UPDATE ON INITIAL SUBSCRIPTION-EQTEC PLC

UPDATE ON INITIAL SUBSCRIPTION-EQTEC PLC

Update on Initial Subscription

 

Further to its announcement of 13 February 2023, EQTEC plc (AIM: EQT), a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation, notifies that due to a delay in the processing of funds the Company and Verde Corporation have agreed an amendment to the Subscription Letter to allow for the proceeds of the Initial Subscription to be received by the Company on or prior to 28 February 2024 and Admission to be on or around 1 March 2024 (or such later time as the Company may determine, being not later than 5 March 2024). Verde have communicated to the Company that the payment of the £0.5 million Initial Subscription funds, are expected to be transferred to the Company imminently. Consequently, Admission of the Initial Subscription Shares, and the Conversion Shares, will be delayed.

 

A further update announcement will be made in due course.

 

Terms in this announcement have the same meaning as defined in the Company's announcement on the Subscription on 13 February 2023, unless otherwise stated.

 

 

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No596/2014, 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.

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