EQTEC PLC has announced that it will be holding an Extraordinary General Meeting (EGM) to seek approval for a proposed capital reorganisation and share consolidation. The EGM will take place on 18 December 2023 at the offices of Philip Lee LLP in Dublin, Ireland. The purpose of the capital reorganisation is to achieve a higher market price for the company's shares and improve their marketability. The board believes that this is in the best interests of the shareholders and unanimously recommends that they vote in favor of the resolutions at the EGM. Failure to approve the resolutions may result in an event of default under certain facilities included in the refinancing announced on 20 November 2023. The company's business strategy involves moving out of project development and into technology licensing and innovation. The capital reorganisation is part of a proposed financial restructuring to enable the company to transition to revenue-led growth and execute its business strategy. Shareholder approval is being sought for a reorganisation of the company's share capital, including subdivision, consolidation, and redesignation of existing ordinary shares. The proportionate interest of shareholders in the issued ordinary shares will remain unchanged as a result of the capital reorganisation. The board believes that the capital reorganisation will improve the marketability of the shares and reduce volatility in the company's share price.