EQTEC PLC has announced a proposed financial restructuring to enable the company to transition to revenue-led growth and execute its business strategy. The restructuring includes refinancing or repayment of existing debt facilities with various lenders, supported by a reduction in operational expenditure. The company will redeem existing debt facilities with Altair Group Investment Limited, refinance outstanding debt with YA II PN Ltd and Riverfort Global Opportunities PCC Limited, and settle an amount due to Pitcole Limited. The company is also taking steps to reduce operating costs and recover accounts receivable. The Refinance Investors will provide up to £3 million in new financing for the company, with an initial advance of £950,000. The Altair Facility will be redeemed through the issue of EQTEC shares, and EQTEC Holdings will purchase Pitcole's participation in Italia MDC. The YA-RF Facility will be cancelled and replaced with a new £10 million secured loan facility. The company has provided an update on the Gardanne project, stating that pre-FEED work worth €186,000 will commence immediately, followed by FEED work estimated to be worth €900,000. The company anticipates that FEED work will start after completion of the pre-FEED, subject to obtaining the requisite funding.