TIDMEQT
RNS Number : 3974S
EQTEC PLC
13 July 2022
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO, THE UNITED
STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE
UNITED STATES OR THE DISTRICT OF COLUMBIA), CANADA, AUSTRALIA,
JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF EQTEC PLC.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021).
13(th) July 2022
EQTEC plc
(" EQTEC " or the " Company " )
PrimaryBid Offer
-- EQTEC announces a retail offer via PrimaryBid;
-- The Issue Price for the PrimaryBid Shares is 0.5p per retail
share, representing a discount of 23 per cent to the closing price
on 13(th) July 2022;
-- Investors can access the PrimaryBid Offer by visiting
www.primarybid.com and downloading the PrimaryBid mobile app;
-- Both the Placing Shares and PrimaryBid Shares will be sold at the Issue Price;
-- There is a minimum subscription of GBP250 per investor in the PrimaryBid Offer;
-- No commission is charged by PrimaryBid on applications to the PrimaryBid Offer.
PrimaryBid Offer
EQTEC plc ( AIM : EQT ) is pleased to announce, a conditional
offer for subscription via PrimaryBid (the "PrimaryBid Offer") of
up to 600,000,000 new Ordinary Shares of EUR0.001 each in the
Company ("PrimaryBid Shares") at an issue price of 0.5 pence per
new Ordinary Share (the "Issue Price"), being a discount of 23 per
cent to the closing mid-price on 13(th) July 2022. The Company is
also conducting a placing of new Ordinary Shares (the "Placing
Shares") at the Issue Price by way of an accelerated bookbuild
process (the "Placing"). The Company has today further announced a
direct subscription with the Company of new Ordinary Shares (the
"Subscription" and, together with the Placing and the PrimaryBid
Offer, the "Fundraising").
The Fundraising is conditional on the new Ordinary Shares to be
issued pursuant to the Fundraising being admitted to trading on AIM
("Admission"). Admission is expected to be take place at 8.00 a.m.
on 19(th) July 2022 . The PrimaryBid Offer and Subscription will
not be completed without the Placing also being completed.
The Company will use the net proceeds of the Fundraising to:
-- maintain momentum with existing projects critical for
demonstrating EQTEC's capabilities and raising awareness of
them;
-- accelerate growth by pursuing second and/or third projects in existing markets; and
-- build for scale by extending the capability and capacity to
support the pipeline and take on an increasing number of
projects.
Reason for the PrimaryBid Offer
The Company values its retail investor base and is therefore
pleased to provide private and other investors the opportunity to
participate in the PrimaryBid Offer by applying through the
PrimaryBid mobile app available on the Apple App Store and Google
Play. PrimaryBid does not charge investors any commission for these
services.
The PrimaryBid Offer, via the PrimaryBid mobile app, will be
open to individual and institutional investors following the
release of this announcement. The PrimaryBid Offer is expected to
close not later than 9.00 p.m. on 13(th) July 2022. The PrimaryBid
Offer may close early if it is oversubscribed.
The Company reserves the right to scale back any order at its
discretion. The Company and PrimaryBid reserve the right to reject
any application for subscription under the PrimaryBid Offer without
giving any reason for such rejection.
No commission is charged to investors on applications to
participate in the PrimaryBid Offer made through PrimaryBid. It is
vital to note that once an application for PrimaryBid Shares has
been made and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid or the procedure for
applications under the PrimaryBid Offer, visit www.PrimaryBid.com
or email PrimaryBid at enquiries@primarybid.com.
The new Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
EQTEC
David Palumbo / Nauman Babar +353 21 2409 056
enquiries@primarybid.com
PrimaryBid Limited
Charles Spencer / James Deal
Strand Hanson - Nominated & Financial Adviser
James Harris / Richard Johnson +44 20 7409 3494
Alma PR - Financial Media & Investor Relations +44 20 3405 0205
Josh Royston / Sam Modlin EQTEC@almapr.co.uk
Instinctif - General Media Enquiries +44 20 7457 2381
Chris Speight / Tim Field / +44 7887 884794
EQTEC@instinctif.com
Details of the PrimaryBid Offer
The Company highly values its retail investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of retail
shareholders, the Company believes that it is appropriate to
provide retail and other interested investors the opportunity to
participate through the PrimaryBid Offer. The Company is therefore
making the PrimaryBid Offer available exclusively through the
PrimaryBid mobile app.
Allocations under the PrimaryBid Offer will be limited to GBP3
million and, accordingly, the Company is not required to prepare
and has not prepared, a prospectus in respect of the PrimaryBid
Offer as it falls within the exemption set out in section 86(1)(e)
and section 86(4) of the Financial Services and Markets Act 2000.
As such, there is no need for publication of a prospectus pursuant
to the Prospectus Rules, or for approval of the same by the
Financial Conduct Authority. The PrimaryBid Offer is not being made
into any Restricted Jurisdiction or any other jurisdiction where it
would be unlawful to do so.
There is a minimum subscription of GBP250 per investor under the
terms of the PrimaryBid Offer which is open to existing
shareholders and other investors subscribing via the PrimaryBid
mobile app.
For further details please refer to the PrimaryBid website at
www.PrimaryBid.com . The terms and conditions on which the
PrimaryBid Offer is made, including the procedure for application
and payment for new Ordinary Shares, is available to all persons
who register with PrimaryBid.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for new Ordinary Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on www.PrimaryBid.com and
the PrimaryBid mobile app before making a decision to subscribe for
new Ordinary Shares. Investors should take independent advice from
a person experienced in advising on investment in securities such
as the new Ordinary Shares if they are in any doubt.
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MSCEXLFFLDLEBBB
(END) Dow Jones Newswires
July 13, 2022 11:52 ET (15:52 GMT)
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