EQTEC PLC has confirmed the receipt of £350,000 in relation to the Placing, resulting in the issuance of 25,000,000 new Shares to the relevant subscribers. Additionally, 2,435,499 new Shares are being issued in settlement of brokerage fees in relation to the Placing to Fortified Securities, the Company's broker arranging the Placing. The new Shares will rank pari passu in all respects with the Company's existing Shares. Application is being made to the London Stock Exchange for admission of the Initial Placing Shares and Fee Shares, and it is expected that dealings in the new Shares on AIM will commence at 8.00 a.m. on or around 6 June 2024.
Following Admission, there will be 221,723,420 Shares in issue, with the Company holding no Shares in Treasury. The balance of 35,887,490 Placing Shares are to be settled on or around 10 June 2024, with an announcement being released at the appropriate time. EQTEC's technology integration capabilities enable the Group to lead collaborative ecosystems of qualified partners and to build sustainable waste reduction and green energy infrastructure around the world.
EQTEC is one of only a few technology providers directly addressing the challenge of replacing fossil fuels for reliable, baseload energy. The London Stock Exchange has awarded EQTEC the Green Economy Mark, recognizing listed companies with 50% or more of revenues from environmental/green solutions. EQTEC's proven, proprietary and patented technology is at the center of clean energy projects, sourcing local waste, championing local businesses, creating local jobs, and supporting the transition to localised, decentralised, and resilient energy systems.