Business
Placing, Debt Restructure and Acquisition
EQTEC PLC is undertaking a significant corporate restructuring, including a £1.3 million equity fundraise at 0.035 pence per share, a debt restructuring of approximately £5.79 million, and the acquisition of the Green Rock copper-gold project in Western Australia for US$150,135, alongside an option for the Peak Hill gold-copper exploration portfolio. These proposals, contingent on shareholder approval at the EGM on February 12, 2026, aim to eliminate near-term refinancing risk and introduce new value catalysts, with the potential for formal insolvency proceedings if resolutions are not passed. The company also plans to settle creditors through the issuance of approximately 535,520,000 new ordinary shares. Disclaimer*
About this update from Forgent Plc
[{"type":"text","content":"\n\n \nThis announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014, as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended, and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.\n \n29 January 2026\nEQTEC PLC\n(\"EQTEC\" or the \"Company\")\nEquity Fundraising\nDebt Restructuring\nAcquisition and Option under Expanded Strategy\n \n \nEQTEC PLC (AIM:EQT), the technology-led energy transition company, announces a comprehensive corporate reset comprising a proposed equity fundraise, a restructuring of certain of its existing debt facilities, the acquisition of a copper-gold exploration asset and the acquisition of an option over a second exploration project in line with its expanded strategy, the proposed settlement of certain creditors through the issuance of shares, and the award of management incentives (together, the \"Proposals\"). The Proposals include the 99% acquisition of the Green Rock Gold-Copper Project located in the Ashburton Basin in the northwest region of Western Australia which is six-months to drill-ready and the exclusive option to acquire 99% of the Peak Hill gold and copper exploration portfolio of projects located in the midwest region of Western Australia. The Proposals are conditional, inter alia, on the approval by shareholders of the increase in authorised share capital and the renewal of share allotment authorities (\"the Resolutions\") at the upcoming Extraordinary General Meeting (\"EGM\") announced on 21 January 2026, to be held on 12 February 2026.\n \nHighlights\n· Corporate re-launch with proposed equity raise and comprehensive balance sheet reset, eliminating near term refinancing and funding risk\n· Continued commitment to core waste to value gasification technology platform with significant medium term commercial opportunity\n· Introduction of copper and gold exploration assets with the potential to deliver near term value catalysts, including drilling within six months\n \n \nJames Parsons, CEO of EQTEC, commented:\n\"Copper and gold prices have recently reached record or near-record levels, reflecting exceptionally str...