Ankündigung • May 20
Forgent plc (AIM:FORG) completed the acquisition of 51% stake in Peak Hill Metals Pty Ltd. Forgent plc (AIM:FORG) agreed to acquire 51% stake in Peak Hill Metals Pty Ltd. for $1.7 million on January 29, 2026. The consideration payable for the 51% is $1,180,672 which will be satisfied through $206,060 in cash and $974,611 through the issue of 4,808,080,933 new ordinary shares in the Company at the Placing price. The net proceeds of £1.3 million($1.8 million) Placing will be used to fund the cash consideration for the acquisition of Peak Hills, support evaluation and due diligence activities of other new assets under negotiation, continue to fund the running costs of the gasification business and provide general working capital during current turbulent markets.
The exercise of the option and the issue of the new shares is conditional on approval by shareholders of the renewal of share allotment authorities at an Extraordinary General Meeting of EGM shareholders notice for which will be issued by the Company shortly. The Company intends to enter into a standard industry joint operating agreement with the Peak Hills vendors prior to the EGM. On May 14, 2026, the transaction was approved by the shareholders of Forgent plc.
James Harris and Richard Johnson? of Strand Hanson Limited acted as financial advisor to Forgent plc.
Forgent plc (AIM:FORG) completed the acquisition of 51% stake in Peak Hill Metals Pty Ltd. on May 18, 2026 and the balance of 48% remaining under option to Forgent plc, extended for a further five months as announced on April 14, 2026. Ankündigung • May 19
Forgent plc has completed a Follow-on Equity Offering in the amount of £1.3 million. Forgent plc has completed a Follow-on Equity Offering in the amount of £1.3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 8,666,666,667
Price\Range: £0.00015
Transaction Features: Subsequent Direct Listing Ankündigung • May 16
Forgent plc Announces Litigation Settlement Resolution Forgent plc had entered into a full and final settlement in relation to the litigation, most recently announced on March 12, 2026 thereby successfully resolving a legacy legal dispute. As previously announced, the Company was a joint defendant along with five others, including David Palumbo, a director of the Company, in a legacy claim brought by SCV North Fork LLC, the original tax-credit investor at the North Fork project. Following mediation in San Francisco last month, the parties have now amicably settled their dispute to their mutual satisfaction without any admission of wrongdoing by any party. The case is SCV North Fork, LLC v. Stangl, et al., No. MCV087914 in the Superior Court for the County of Madera, State of California, United States of America. Ankündigung • May 08
Forgent plc Announces Management Changes Forgent plc announced a number of Board changes as part of its ongoing efforts to streamline its cost base and continue the evolution of its governance structure. The Company confirmed the appointment of Gerry Madden to the Board as Finance Director, with immediate effect. Gerry is already the CFO and Company Secretary and brings over 30 years of experience as a director, advisor, CEO and senior finance professional, with a strong track record at board level. His appointment is intended to further strengthen Forgent's leadership team as the Company executes its strategic plans. As previously announced on 14th January 2026, David Palumbo, Non-Executive Chairman, had informed the Board of his intention to transition the Chairmanship to a successor. It has now been agreed that he will step down from the Board on 30 June 2026. Brian Cole, independent Non-Executive Director, will assume the role of independent Non-Executive Chairman on 1stJuly 2026 on an interim basis until a permanent successor is appointed as the Company seeks to strengthen independent director representation on the Board. New Risk • Apr 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (31% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Market cap is less than US$10m (UK£110.0k market cap, or US$148.8k). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Revenue is less than US$5m (€1.4m revenue, or US$1.6m). Ankündigung • Apr 16
Forgent plc (AIM:FORG) agreed to acquire 51% stake in Peak Hill Metals Pty Ltd. for $1.71 million. Forgent plc (AIM:FORG) agreed to acquire 51% stake in Peak Hill Metals Pty Ltd. for $1.71 million on April 14, 2026. The consideration payable for the 51% is US$1,180,672 which will be satisfied through $206,060 in cash and $974,611 through the issue of 4,808,080,933 new ordinary shares in the Company at the Placing price. The net proceeds of £1.3 million($1.8 million) Placing will be used to fund the cash consideration for the acquisition of Peak Hills, support evaluation and due diligence activities of other new assets under negotiation, continue to fund the running costs of the gasification business and provide general working capital during current turbulent markets.
The exercise of the option and the issue of the new shares is conditional on approval by shareholders of the renewal of share allotment authorities at an Extraordinary General Meeting of EGM shareholders notice for which will be issued by the Company shortly. The Company intends to enter into a standard industry joint operating agreement with the Peak Hills vendors prior to the EGM. Ankündigung • Apr 14
Forgent plc has filed a Follow-on Equity Offering in the amount of £1.3 million. Forgent plc has filed a Follow-on Equity Offering in the amount of £1.3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 8,666,666,667
Price\Range: £0.00015
Transaction Features: Subsequent Direct Listing Ankündigung • Mar 19
Forgent plc Mobilises Exploration Team for Maiden Field Programme At Green Rock Copper-Gold Project Forgent plc announced that its exploration team will mobilise to site over the coming weekend to commence the Company's maiden field programme at the Green Rock Copper-Gold Project in Western Australia. The mobilisation follows the Company's recently announced acquisition of a 99% interest in the Green Rock Project, located in the Ashburton Basin in the southern Pilbara region of Western Australia. Historical exploration at Green Rock has identified high-grade copper and gold mineralisation at surface, including reported grades of up to 46.7% copper and 5.31 g/t gold associated with structurally controlled mineralisation across multiple prospects within the project area. The upcoming programme represents the commencement of a systematic field campaign at the project, designed to validate and extend on historical data and define potential drill targets. Programme Objectives · Validate previously reported high-grade copper-gold rock-chip samples · Undertake systematic infill sampling between historical sample locations · Test strike extensions of known mineralised zones · Determine the orientation and structural controls of copper-gold mineralisation · Generate priority targets for potential drilling Planned Activities The exploration team will undertake systematic rock-chip sampling across four priority target areas: Minga Central/West, Green Hat, K16 South and Minga North. The programme includes infill and validation sampling of historical high-grade copper-gold results as well as stream sediment sampling across surrounding drainage systems to identify potential strike extensions and additional mineralised trends. All samples from the programme will be submitted for multi-element laboratory analysis including copper and gold assays. Next Steps Results from the programme will be used to refine the geological model for the Green Rock project and prioritise targets for follow-up drilling. Maiden drilling is currently targeted for August 2026. Further updates will be provided once the field programme is completed. Ankündigung • Feb 25
Eqtec plc Announces High-Grade Copper and Gold Potential Confirms At Green Rock Maiden Field Programme EQTEC PLC announced the completion of a comprehensive review of historical exploration data and geological interpretation, which has defined priority targets and supported the design of an initial field expl oration programme at the Green Rock Copper-Gold Project located in the Ashburton Basin, northwest Western Australia. The Green Rock Project represents EQTEC's first Australian copper-gold asset and provides exposure to high-grade surface mineralisation within a structurally significant mineral field in Western Australia, a Tier 1 mining jurisdiction. A comprehensive review of the historical database and initial map preparation has been undertaken by the Company's geologists to refine targets ahead of a maiden site visit. Geological consultants are expected to mobilise to site in the coming weeks, subject to the end of the summer wet season. High-grade surface copper a nd gold mineralisation identified, associated with major structural features and dyke margins, with reported historical grades of up to 46.7% Cu and 5.31 g/t Au. Maiden site visit planned in the coming weeks to validate and extend known outcropping mineral isation and build on work completed by previous explorers. Geological interpretationates potential for multiple mineralisation styles, with scale potential supported by structural complexity and spatially coincident copper and gold anomalies. Multiple high-grade prospects identified across the licence area; no modern drilling has yet be undertaken. Green Rock Gold-Copper Project Tenure The Project consists of a single granted exploration licence, E08/3725, covering approximately 31.5 km2. The Green Rock Project is located within the Ashburton Mineral Field in the southern Pilbara region of Western Australia. The Project lies a pprox ultimately: 160 km west of Paraburdoo; 170 km west of Tom Price; 35 km southwest of the Paulsens Gold Mine (Black Cat Syndicate Ltd) The proximity to established mining operations demonstrates the region's proven mineral endowment and to infrastructure. Access is via the sealed North Western Coastal Highway to Nanutarra Roadhouse, followed by established dirt roads and station tracks. Topography comprises low hills trending NW-SE with elevation variations of up to 100m. Veation is dominated by spinifex with scattered acacia and eucalypts along drainage lines. Exploration Programme Field activities are scheduled to commence following the seasonal wet period, marking the first modern, systematic exploration programme at the Project. Ankündigung • Jan 29
EQTEC plc has completed a Follow-on Equity Offering in the amount of £1.3 million. EQTEC plc has completed a Follow-on Equity Offering in the amount of £1.3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,714,285,714
Price\Range: £0.00035
Transaction Features: Subsequent Direct Listing Board Change • Oct 29
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Interim Senior Independent Non-Executive Director Brian Cole was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 05
First half 2025 earnings released: €0.004 loss per share (vs €0.016 loss in 1H 2024) First half 2025 results: €0.004 loss per share (improved from €0.016 loss in 1H 2024). Revenue: €636.0k (down 56% from 1H 2024). Net loss: €2.07m (loss narrowed 35% from 1H 2024). New Risk • Oct 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 66% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€4.9m free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Market cap is less than US$10m (UK£2.44m market cap, or US$3.30m). Minor Risk Revenue is less than US$5m (€1.4m revenue, or US$1.6m). Ankündigung • Aug 29
EQTEC plc, Annual General Meeting, Sep 25, 2025 EQTEC plc, Annual General Meeting, Sep 25, 2025. Location: the offices of philip lee llp, connaught house, one burlington road, dublin 4 d04 c5y6 Ireland Ankündigung • Jul 03
EQTEC plc Auditor Raises 'Going Concern' Doubt EQTEC plc filed its Annual on Jul 01, 2025 for the period ending Dec 31, 2024. In this report its auditor, Grant Thornton, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Reported Earnings • Jul 02
Full year 2024 earnings released: €0.068 loss per share (vs €0.21 loss in FY 2023) Full year 2024 results: €0.068 loss per share (improved from €0.21 loss in FY 2023). Revenue: €2.20m (down 14% from FY 2023). Net loss: €19.4m (loss narrowed 18% from FY 2023). Ankündigung • Apr 17
EQTEC plc has completed a Follow-on Equity Offering in the amount of £1.5 million. EQTEC plc has completed a Follow-on Equity Offering in the amount of £1.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 176,470,588
Price\Range: £0.0085
Security Features: Attached Warrants
Transaction Features: Subsequent Direct Listing New Risk • Apr 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 38% per year over the past 5 years. Shareholders have been substantially diluted in the past year (103% increase in shares outstanding). Market cap is less than US$10m (UK£2.67m market cap, or US$3.48m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Revenue is less than US$5m (€3.9m revenue, or US$4.4m). Ankündigung • Apr 10
EQTEC plc has filed a Follow-on Equity Offering in the amount of £1.5 million. EQTEC plc has filed a Follow-on Equity Offering in the amount of £1.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 176,470,588
Price\Range: £0.0085
Security Features: Attached Warrants
Transaction Features: Subsequent Direct Listing New Risk • Feb 24
New major risk - Revenue and earnings growth Earnings have declined by 38% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 38% per year over the past 5 years. Shareholders have been substantially diluted in the past year (103% increase in shares outstanding). Market cap is less than US$10m (UK£2.22m market cap, or US$2.81m). Minor Risk Revenue is less than US$5m (€3.9m revenue, or US$4.0m). New Risk • Dec 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Shareholders have been substantially diluted in the past year (103% increase in shares outstanding). Market cap is less than US$10m (UK£1.95m market cap, or US$2.44m). Minor Risk Revenue is less than US$5m (€3.9m revenue, or US$4.0m). Reported Earnings • Sep 26
First half 2024 earnings released: €0.016 loss per share (vs €0.023 loss in 1H 2023) First half 2024 results: €0.016 loss per share. Revenue: €1.45m (up €1.30m from 1H 2023). Net loss: €3.19m (loss widened 32% from 1H 2023). Revenue is forecast to grow 55% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in the United Kingdom. Ankündigung • Sep 18
EQTEC plc Announces Board Changes EQTEC plc announced the appointment of Brian Cole to the Board of Directors of EQTEC (the "Board") as independent Non-executive Director (NED), effective from 23 September 2024. With a background in marketing, business development and quality management in engineering companies, Mr. Cole brings a versatile skill set to the Group. As a seasoned company director with an extensive career in the energy sector, his expertise covers every stage of energy project development, from pre-feasibility to commissioning, for both renewable and conventional generation and infrastructure. With a strong educational background in industrial engineering and a master's degree in business administration (MBA) from University College Dublin, Mr. Cole is well qualified in the techno-economic assessment and commercialisation of leading-edge technologies. As an advisor, Mr. Cole actively collaborates with various investors in solar, wind, biomass, wave, gasification, concentrated anaerobic digestion, combined heat and power (CHP) and conventional power plant and infrastructure ventures. His experience extends across Ireland, the UK, France, Germany, Spain, Portugal, Greece and Croatia. He was directly engaged in securing €530 million of EU funding for the 700 MW HVDC Celtic interconnector between Ireland and France. He crafted the five-year plan for Ireland's largest utility for strategic investment in renewable and conventional generation and infrastructure. Furthermore, as leader of the Strategic Consultancy Group, he managed and directed a team of experts carrying out techno-economic assessments of innovative power technologies and project opportunities, evaluating their potential for investment, scalability, and suitability for development and commercialisation. Following Mr. Cole's appointment and Chief Operating Officer (COO), Jeffrey Vander Linden stepping down on 29 September 2024, the Board will comprise five directors, including three independent non-executive directors. Ankündigung • Aug 14
EQTEC plc Updates on Settlement Agreement with Logik Developments Limited and Logik WTE Limited EQTEC plc updated on progress on the settlement agreement with Logik Developments Limited and its wholly-owned subsidiary Logik WTE Limited. As previously announced, the timing of the payment of the settlement sum is subject to and conditional on the sale (the "Sale") of a site at Weighbridge Road in Deeside Industrial Park (the "Land"), with payment expected following completion of a sale. On 1 May 2024 the Company notified that it had received written confirmation from Logik of conditional exchange for the sale of the Land, with a long stop date for completion set for 28 June 2024, subsequently extended to 12 July 2024. On 29 July 2024 the Company announced that it had been informed that dialogue continued between the parties to the transaction and legal execution of final funding documents relating to the sale of the Land was ongoing and that completion was still anticipated in the first half of August 2024 and with this in mind a new completion long stop date was not then agreed. The Company has now been notified by the buyer that the Sale parties have executed an amendment to the existing agreement such that the exchange for the sale of the Land is now unconditional with no further conditions to be met and have set a long stop date of 16 August 2024 for completion funds transfers to be initiated following contractual closing. On the basis completion does occur in accordance with the indicated timetable, the Company would be due to receive £2,000,000 under the settlement agreement. A further update will be provided following contractual closing and receipt by the Company of the settlement funds. Ankündigung • Aug 10
EQTEC plc Announces Resignation of Jeffrey Vander Linden as Group Chief Operating Officer EQTEC plc announced transition of the Group Chief Operating Officer role (the "Role"). Jeffrey Vander Linden, currently in the Role, will resign and step down from the Board in due course, to support transition of the Role to a Spain-based engineering management professional. The Company intends to complete transition of the Role by the end of September 2024, although Mr. Vander Linden may be asked to remain available beyond that date. Discussions with a prospective appointee to the Role are at an advanced stage and a further announcement will be made in due course. Ankündigung • Jul 15
EQTEC plc Announces Update on Settlement Agreement with Logik Developments Limited and Its Wholly-Owned Subsidiary Logik WTE Limited EQTEC plc updated on positive progress on the settlement agreement with Logik Developments Limited and its wholly-owned subsidiary Logik WTE Limited (collectively, "Logik"). As announced by the Company on 3 April 2024 and 28 June 2024, the timing of the payment of the settlement sum is subject to and conditional on the sale of a site atWeighbridge Road in Deeside Industrial Park (the "Land"), with payment expected following completion of a sale. The Company has been informed by Logik and the buyer (the "Parties"), that legal execution of final funding documents relating to the sale of the Land is ongoing yet requiring some additional time to complete. To accommodate finalising legal execution of the funding documents in connection with the sale of the Land, the Parties are in discussion to extend the completion long stop date of 12 July 2024. A new long stop date is expected to be agreed in the coming days and anticipated to be in the first half of August 2024. Completion funds are expected to be transferred on or around the completion date. While there are still certain conditions to be satisfied for completion, on the basis completion does occur in accordance with the anticipated timetable, the Company would be due to receive £2,000,000 under the settlement agreement. A further update will be provided in due course, including once a new long stop date has been agreed. Ankündigung • Jul 11
EQTEC plc, Annual General Meeting, Aug 06, 2024 EQTEC plc, Annual General Meeting, Aug 06, 2024. Location: the offices of philip lee llp, connaught house, one burlington road, dublin 4, d04 c5y6, Ireland Ankündigung • Jul 05
EQTEC plc to Report First Half, 2024 Results on Jul 18, 2024 EQTEC plc announced that they will report first half, 2024 results on Jul 18, 2024 Reported Earnings • Jul 01
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: €0.21 loss per share (further deteriorated from €0.12 loss in FY 2022). Revenue: €2.55m (down 68% from FY 2022). Net loss: €23.8m (loss widened 126% from FY 2022). Revenue exceeded analyst estimates by 26%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 51% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in the United Kingdom. New Risk • Apr 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (78% increase in shares outstanding). Market cap is less than US$10m (UK£3.18m market cap, or US$3.98m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Currently unprofitable and not forecast to become profitable over next 3 years (€597k net loss in 3 years). Ankündigung • Apr 05
EQTEC plc, EQTEC UK Services Limited and Deeside WTV Limited and Reach Settlement Agreement with Logik Developments Limited and Logik WTE Limited Further to the announcement of 20 September 2023, the EQTEC plc announced that it has reached a settlement agreement with Logik Developments Limited and its wholly-owned subsidiary Logik WTE Limited. On 03 April 2024, the Company and Logik entered into a settlement agreement relating to the Claim previously announced and detailed on 20 September 2023. Pursuant to the Settlement Agreement, the Company and its wholly-owned subsidiaries EQTEC UK Services Limited and Deeside WTV Limited and Logik have agreed to the full and final settlement of certain claims between them. In connection with this settlement, subject to and conditional on the sale of a site at Weighbridge Road in Deeside Industrial Park completing on or before 30 April 2024, Logik will pay the Company a settlement sum of £1.7 million within the next business day following the date of completion. If the sale of the Land completes between 1 May 2024 and 30 November 2024 Logik will pay the Company a settlement sum of £2 million within the next business day following the date of completion. If a sale of the Land does not complete by 1 December 2024, Logik will be liable to pay to the Company £2,000,000 not conditional upon any sale of the Land. Under the terms of the Settlement Agreement, EQTEC will also receive interest at 4% above the Bank of England Base Rate on any part of the settlement sum that is not paid in accordance with the terms of the Settlement Agreement. The Company has received confirmation from Logik that the Land is currently in the process of being sold and that the proposed purchaser is funded by a global investment company. Further, the Company has been informed that all elements of the transaction have now been agreed and the funder is seeking final sign-off and confirmation at its internal committee meeting in the coming days. Logik expects that the sale of the Land can complete shortly thereafter and possibly before 30 April 2024. The Company will make a further announcement as and when the intended completion date is confirmed by Logik. Ankündigung • Mar 19
EQTEC plc, Annual General Meeting, May 27, 2024 EQTEC plc, Annual General Meeting, May 27, 2024, at 14:00 Central European Standard Time. Major Estimate Revision • Feb 16
Consensus EPS estimates fall by 1,156% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -€0.0054 to -€0.0678 per share. Revenue forecast of €2.23m unchanged since last update. Machinery industry in the United Kingdom expected to see average net income growth of 3.4% next year. Consensus price target of UK£1.65 unchanged from last update. Share price rose 8.5% to UK£0.025 over the past week. New Risk • Feb 14
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €11m Forecast net loss in 3 years: €597k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (27% average weekly change). Shareholders have been substantially diluted in the past year (111% increase in shares outstanding). Market cap is less than US$10m (UK£4.81m market cap, or US$6.04m). Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (€597k net loss in 3 years). Ankündigung • Feb 13
EQTEC plc has completed a Follow-on Equity Offering in the amount of £0.5 million. EQTEC plc has completed a Follow-on Equity Offering in the amount of £0.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 21,276,596
Price\Range: £0.0235
Transaction Features: Subsequent Direct Listing New Risk • Jan 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 111% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€8.5m free cash flow). Shareholders have been substantially diluted in the past year (111% increase in shares outstanding). Market cap is less than US$10m (UK£4.54m market cap, or US$5.73m). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Major Estimate Revision • Dec 22
Consensus EPS estimates upgraded to €0.0054 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -€0.09 to -€0.0054 per share. Revenue forecast unchanged from €2.23m at last update. Machinery industry in the United Kingdom expected to see average net income growth of 1.7% next year. Consensus price target of UK£1.67 unchanged from last update. Share price rose 11% to UK£0.03 over the past week. Board Change • Dec 21
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Tom Quigley was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Ankündigung • Sep 21
EQTEC plc Announces Discontinuation of Billingham Project EQTEC plc announced its intention to cease activity on its Billingham project at Haverton Hill, Teesside, UK (the Project). The decision comes amidst increasingly challenging market conditions in the UK and following recent setbacks with the Project that make it unfeasible for the Company to prioritise against its broader strategic opportunities. The Project was one of the Company's most ambitious to date, aiming to create a refuse-derived fuel (RDF)-to-combined heat and power (CHP) facility that would transform 200,000 tonnes per year of RDF into up to 25MW of electricity for export to the national grid, with the potential for creating up to 34MW of thermal energy (the Plant). The Company had secured all relevant permits and permissions to build the Plant, agreed favourable heads of terms for over 250% of its required volume of feedstock and was pursuing discussions with neighbouring companies about provision of private wire offtake. Finalising private wire offtake terms was as an essential final step in making the Project attractive for investors seeking larger-scale investment opportunities, and EQTEC had been in discussion with candidate offtakers toward formal agreements. However, those candidate offtakers' recent announcements of their intentions to close their own Teesside operations created a significant setback for the Company in its efforts to finalise the investment case for the Project. Notably, nearby industrial companies announcing closures of Teesside operations cited increasing costs of doing business in the UK and the consequent challenges of remaining competitive as the rationale for their decisions. The Company has experienced similar challenges and is not in a position to fund further, expensive work on development of the Project. At the same time, and due to unprecedented demand for grid connectivity near the Haverton Hill site, Northern Powergrid Holdings Company (NPg) has informed the Company that it has terminated its grid connection contract with Billingham EFW Limited (Billingham EFW), which owns the land on which the Plant was to be built. Given that the Project is overdue on its milestone to commence construction, NPg informed the Company that it was under political pressure to cancel the contract given strong demand for connections from new energy projects and aggressive development around the specific grid connection point relevant to the Project. The Project's option to lease the land owned by Billingham EFW, a wholly owned subsidiary of Scott Bros. Limited (Scott Bros), is contingent upon retention of the grid connection and thus also at risk given the NPg contract termination. The Company remains in discussion with Scott Bros about options for recovering as much as possible from the investments made in the land and Project. The Company has to date invested c. £4 million in the Project. In line with accounting standards (IAS 36 - impairment of assets), the Company believes that a significant portion of its previous investment into development of the Project, less any amounts recovered as referred to above, will be impaired. This accounting treatment will be evident in the Fiscal Year 2023 audited financial statements, resulting in a reduction in assets and recognition of an impairment expense of the same amount. New Risk • Sep 21
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€10m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€10m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Shareholders have been diluted in the past year (28% increase in shares outstanding). Market cap is less than US$100m (UK£14.3m market cap, or US$17.6m). Major Estimate Revision • Aug 01
Consensus revenue estimates fall by 24% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €16.6m to €12.6m. Forecast losses increased from €0.00 to -€0.0002 per share. Machinery industry in the United Kingdom expected to see average net income growth of 2.5% next year. Consensus price target of UK£0.02 unchanged from last update. Share price was steady at UK£0.0016 over the past week. Major Estimate Revision • Jul 13
Consensus revenue estimates decrease by 36% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €25.9m to €16.6m. EPS estimate unchanged from €0 per share at last update. Machinery industry in the United Kingdom expected to see average net income growth of 2.7% next year. Consensus price target broadly unchanged at UK£0.02. Share price was steady at UK£0.0017 over the past week. Breakeven Date Change • May 09
Forecast breakeven date pushed back to 2024 The 4 analysts covering EQTEC previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 96% to 2023. The company is expected to make a profit of €4.30m in 2024. Average annual earnings growth of 74% is required to achieve expected profit on schedule. Reported Earnings • May 07
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: €0.001 loss per share (in line with FY 2021). Revenue: €7.97m (down 13% from FY 2021). Net loss: €10.5m (loss widened 124% from FY 2021). Revenue exceeded analyst estimates by 37%. Earnings per share (EPS) missed analyst estimates by 67%. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 06
Consensus revenue estimates decrease by 19% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €25.6m to €20.8m. EPS estimate unchanged from €0.00028 per share at last update. Machinery industry in the United Kingdom expected to see average net income growth of 4.6% next year. Consensus price target of UK£0.026 unchanged from last update. Share price fell 6.3% to UK£0.0019 over the past week. Breakeven Date Change • Apr 27
Forecast breakeven date moved forward to 2023 The 4 analysts covering EQTEC previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of €69.0k in 2023. Average annual earnings growth of 94% is required to achieve expected profit on schedule. Major Estimate Revision • Mar 22
Consensus EPS estimates upgraded to €0.0006 loss The consensus outlook for fiscal year 2022 has been updated. 2022 losses forecast to reduce from -€0.06 to -€0.0006 per share. Revenue forecast unchanged from €5.81m at last update. Machinery industry in the United Kingdom expected to see average net income growth of 2.7% next year. Consensus price target of UK£0.026 unchanged from last update. Share price fell 31% to UK£0.0021 over the past week. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Director Tom Quigley was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 02
First half 2022 earnings released: EPS: €0 (vs €0.001 loss in 1H 2021) First half 2022 results: EPS: €0 (improved from €0.001 loss in 1H 2021). Revenue: €2.98m (up €2.50m from 1H 2021). Net loss: €2.28m (loss narrowed 44% from 1H 2021). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 27
Full year 2021 earnings released: €0.001 loss per share (vs €0.001 loss in FY 2020) Full year 2021 results: €0.001 loss per share (vs €0.001 loss in FY 2020). Revenue: €9.17m (up 310% from FY 2020). Net loss: €4.70m (loss narrowed 19% from FY 2020). Over the next year, revenue is forecast to grow 212%, compared to a 9.5% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Director Tom Quigley was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 20
Full year 2020 earnings released: €0.001 loss per share (vs €0.001 loss in FY 2019) The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: €2.23m (up 33% from FY 2019). Net loss: €5.83m (loss widened 54% from FY 2019). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 74% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Feb 11
Finance Director recently sold UK£477k worth of stock On the 3rd of February, Michael Madden sold around 25m shares on-market at roughly UK£0.019 per share. This was the largest sale by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Reported Earnings • Sep 29
First half earnings released Over the last 12 months the company has reported total losses of €3.54m, with losses narrowing by 51% from the prior year. 