Business
Loan Facility drawdown
Loan Facility drawdown.
About this update from Forgent Plc
[{"type":"text","content":"\n \nRNS Number : 9227A EQTEC PLC 03 June 2019 \n\n3 June 2019\n \nEQTEC plc\n(\"EQTEC\" or the \"Company\")\n \nLoan Facility drawdown\n \nEQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, today announces a £0.2 million drawdown under the £3.5 million loan facility with Altair Group Investment Limited (\"the Loan Facility\"). Further details on the Loan Facility were announced on 22 January 2019. A balance of £0.679 million remains available to be drawn down under the Loan Facility.\n \nThis drawdown will allow the Company to focus its resources on achieving contract execution and these funds will be used for working capital purposes in line with this objective.\n \nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.\n \nEnquiries\n \n\n\n\nEQTEC plc\n\n\n+353 (0)21 2409 056\n\n\n\n\nIan Price - Chief Executive Officer \nGerry Madden - Finance Director\n\n\n\n\n\n\n\n \nStrand Hanson - Nomad, Financial Adviser & Broker\n\n\n \n+44 (0) 207 409 3494\n\n\n\n\nJames Harris/Richard Tulloch/Jack Botros\n \n\n\n\n\n\n\n\nIFC Advisory - Financial PR & IR\n\n\n+44 (0) 203 934 6630\n\n\n\n\nTim Metcalfe / Miles Nolan / Zach Cohen\n\n\n\n\n\n\n \nNotes to Editors\n \nAbout EQTEC plc\n \nEQTEC's business model involves sourcing and providing assistance in developing waste elimination projects to which it will ultimately sell its EQTEC Gasifier Technology (\"EGT\") and O&M services. EGT enables project developers to construct waste elimination plants and recover electrical and thermal energy from the waste streams.\n \nEQTEC sources projects that have a local supply of waste in need of elimination and conversion. It builds relationships and brings together the developers, the waste owners, the building contractors and funders. It then supplies the energy recovery technology and provides engineering services to the projects. Furthermore, EQTEC will provide O&M services to the operating projects generating recurring revenues over the life of the projects. \n \nThe Company is quoted on AIM and trades as EQT. Further information on the Company can be found at www.eqtecplc.com.\n\nThis information is provided by RNS, the news service of the...