EQTEC PLC

Related Party Transaction • Mar 31, 2020

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RNS Number : 2636I

EQTEC PLC

31 March 2020

31 March 2020

EQTEC plc

("EQTEC", the "Company" or the "Group")

Creation of New Employee Incentive Warrant Pool

EQTEC plc (AIM: EQT), the technology solution company for advanced gasification in waste to energy projects,

announces that it has established an Employee Incentive Warrant Pool ("EIWP") for all employees.

The Board of Directors of the Company has approved the creation of an EIWP warrant instrument that allows for the issue of 590,906,437 warrants ("Warrants") over new ordinary shares of €0.001 each in the Company ("Ordinary Shares") to employees. The Warrants represent approximately 15% of the current issued Ordinary Share capital of the Company and will be used to incentivise performance and align the interests of employees with those of shareholders. The exercise price of the Warrants granted under the EIWP will be 0.25p per Ordinary Share, representing a premium of 43% to the last middle market closing price. The EIWP Warrant Instrument is dated today and each Warrant is exercisable for a period of 36 months from the date of the instrument.

Included in the total is the issue of the following Warrants to the Directors of the Company:

Director	Number of Warrants being issued
David Palumbo	196,968,812
Yoel Aleman	98,484,406
Gerry Madden	157,575,049
Thomas Quigley	19,696,881

The remaining 118,181,289 Warrants will be issued to various staff members.

Related party transaction

As Directors of the Company, David Palumbo, Yoel Aleman, Gerry Madden and Thomas Quigley are considered related parties under the AIM Rules for Companies ("AIM Rules").  As a result, issue of Warrants to them constitutes a related party transaction pursuant to Rule 13 of the AIM Rules.  Ian Pearson, being the sole Director independent of the transaction considers, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, that the terms of the issue of the Warrants to the Directors are fair and reasonable in so far as the Company's shareholders are concerned. 

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

Enquiries

EQTEC plc	+353 21 2409 056
David Palumbo / Gerry Madden
Strand Hanson - Nomad & Financial Adviser	+44 20 7409 3494
James Harris / James Dance / Jack Botros
SI Capital Limited - Broker	+44 1483 413 500
Nick Emerson / Jon Levinson
IFC Advisory - Financial PR & IR	+44 20 3934 6630
Tim Metcalfe / Graham Herring / Zach Cohen

Notes to Editors

About EQTEC plc

EQTEC is the technological solution partner for converting waste to clean energy.

EQTEC mission is to provides sustainable technological solutions to address two of the world's greatest challenges: managing rising levels of waste and meeting the growing demand for clean energy.

EQTEC's business model involves sourcing and providing assistance in developing waste elimination projects which will convert waste into clean energy, to which it will ultimately sell its EQTEC Advanced Gasification Technology and O&M services. EQTEC Advanced Gasification Technology enables project developers to construct waste elimination plants and recover electrical and thermal energy from the waste streams.

EQTEC sources projects that have a local supply of waste in need of elimination and conversion.  It builds relationships and brings together the developers, the waste owners, the building contractors and funders.  It then supplies the energy recovery technology and provides engineering services to the projects.

EQTEC also seeks to provide O&M services to established operating co-generation plants generating recurring revenues over the life of the projects.

The Company is quoted on AIM, bears the Green Economy Mark awarded by the London Stock Exchange and trades as EQT.  Further information on the Company can be found at www.eqtecplc.com.

PDMR Notification Form:

The notification below is made in accordance with the requirements of the Market Abuse Regulation:

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

1.    David Palumbo

2.    Yoel Aleman

3.    Gerry Madden

4.    Thomas Quigley

2.

Reason for the Notification

a)

Position/status

1.    CEO

2.    CTO

3.    FD

4.    NED

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

EQTEC plc

b)

LEI

63540085VSYVDEINJO04

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary Shares of EUR0.001 each

Identification code

IE00BH3XCL94

b)

Nature of the Transaction

Issue of warrants

c)

Price(s) and volume(s)

Price(s)	Volume(s)
0.25 pence	1. 196,968,812 2. 98,484,406 3. 157,575,049 4. 19,696,881

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

31 March 2020

f)

Place of the transaction

AIM (LSE)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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