Announcement • Jul 10
Forgent plc, Annual General Meeting, Aug 06, 2026 Forgent plc, Annual General Meeting, Aug 06, 2026. Location: the offices of philip lee llp, connaught house, one burlington road, dublin 4, d04 c5y6, Ireland Announcement • Jul 07
Forgent PLC Completes Phase 1 Drilling Programme At Peak Hills Gold-Copper Project Forgent PLC has successfully completed the Phase 1 drilling programme at the Company's Peak Hills gold-copper project in Western Australia. The Phase 1 programme was designed to test multiple high-priority targets across the Karalundi, Junction and Curleys prospects. The programme has focused on validation of historic exploration results, extension of known mineralisation and evaluation of additional mineralised zones across the broader project area, to advance the Company's understanding of the gold-copper potential at Peak Hills. The programme comprised 40 drill holes for a total of approximately 2,680 metres, with drill depths of up to 100 metres. A combination of aircore ("AC") and reverse circulation ("RC") drilling techniques was utilised, with RC drilling employed where hard ground conditions prevented effective aircore drilling. 1,587 samples, a combination of 3m composite and single metre samples from the drilling programme have been submitted to a Perth-based independent laboratory for assay. The Company will provide a further update once assay results have been received and interpreted. The Peak Hills project is a large-scale gold and copper exploration project covering approximately 163 km² across five granted tenements in Western Australia. Forgent currently holds a 51% interest in the project with the option to increase ownership to 99%. Announcement • Jun 22
Forgent plc Begins Maiden Drilling Programme At Peak Hills Gold-Copper Project Forgent plc announced that the Company's maiden drilling programme is underway at the Peak Hills gold-copper project in Western Australia. The Company expects initial results to be received and reported in early August 2026. The Peak Hills project is a large-scale gold and copper exploration project covering approximately 163 km² across five granted tenements in Western Australia. Forgent currently holds a 51% interest in the project with the option to increase ownership to 99%. Announcement • Jun 19
Forgent plc Mobilises Drill Rig to Peak Hills Gold-Copper Project Forgent plc had announced the mobilisation of the drill rig to the Company's Peak Hills gold-copper project in Western Australia. The initial Phase 1 programme has been designed to test multiple high-priority targets across the Karalundi, Junction and Curleys prospects using low-cost aircore drilling. The programme will focus on validating historic exploration results, extending known mineralisation and identifying additional mineralised zones across the broader project area. The drilling programme of a planned approximate 42 aircore drill holes up to a depth of 100 metres, for c. 2,860 total metres, is expected to start imminently and on schedule, and to take up to 3 weeks to complete. The Company expects initial results to be received and reported early August 2026. The Peak Hills project is a large-scale gold and copper exploration project covering approximately 163 km² across five granted tenements in Western Australia. Forgent currently holds a 51% interest in the project with the option to increase ownership to 99%. New Risk • Jun 16
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€7.0m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-€7.0m). Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 68x increase in shares outstanding). Market cap is less than US$10m (€5.43m market cap, or US$6.30m). Minor Risk Revenue is less than US$5m (€1.0m revenue, or US$1.2m). Reported Earnings • Jun 16
Full year 2025 earnings released: €0.023 loss per share (vs €0.068 loss in FY 2024) Full year 2025 results: €0.023 loss per share (improved from €0.068 loss in FY 2024). Revenue: €1.01m (down 54% from FY 2024). Net loss: €14.2m (loss narrowed 27% from FY 2024). Announcement • Jun 15
Forgent Plc Reports Maiden Field Programme Assay Results At Green Rocks Copper-Gold Project Forgent plc announced the assay results of its maiden field programme at the Green Rocks Copper-Gold project located in the Ashburton Basin, northwest Western Australia. A maiden surface sampling program was completed over the Green Rocks Project area during April 2026, with multi-element assays received for 110 samples. 22 samples reported >5% Cu and 25 samples returned >0.3g/t Au. The results have validated historic sampling and extended the known extent of outcropping mineralisation in multiple directions. Widespread high-grade copper mineralisation has been identified proximal to interpreted faults, dyke margins and structural intersections. Extensive malachite (copper mineral) development was noted at surface with exceptional grades of up to 29.4% Cu and 4.80 g/t Au. Selected significant results from the sampling program include: 29.4 % Cu (GR0084), 13.1 % Cu (GR0012), 26.8 % Cu (GR0079), 11.9 % Cu (GR0119), 27.2 % Cu (GR0085), 10.7 % Cu (GR0010), 23.8 % Cu (GR0080), 10.5 % Cu (GR0026), 20.8 % Cu (GR0040), 4.80g/t Au (GR0023), 16.2 % Cu (GR0116), 1.40g/t Au (GR0026), 15.2 % Cu (GR0041), 1.10g/t Au (GR0040), 14.8 % Cu (GR0011). Multiple undrilled high-grade prospects have been further identified and prioritised. These latest assay results will be used in conjunction with historic results and the interpreted regional structural setting, to inform an updated geological model and maiden drilling programme. The Company will now design a maiden drilling programme and submit a Program of Work (PoW) to the Department of Mines Petroleum and Exploration (DMPE), in conjunction with other approvals that relate to heritage surveys. Further technical updates will be provided following receipt of all required approvals. The Green Rocks Project is located within the Ashburton Mineral Field in the southern Pilbara region of Western Australia. The Project lies approximately: 160 km west of Paraburdoo, 170 km west of Tom Price, ~35 km southwest of the Paulsens Gold Mine (Black Cat Syndicate Ltd.). 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. Vegetation is dominated by spinifex with scattered acacia and eucalypts along drainage lines. Mr. Mead is a consultant to the Company. Mr. Mead has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the `Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Announcement • Jun 05
Forgent plc Schedules Commencement of Peak Hills Gold-Copper Drill Programme in Western Australia Forgent plc provided an operational update on its Peak Hills gold-copper drill programme in Western Australia following the recent approval of the Programme of Work. Final Phase 1 drill programme planning was substantially complete. Aircore drilling campaign is scheduled to commence the week commencing 21 June 2026, with operations expected to run for approximately three weeks. Total planned programme has increased to approximately 42 drill holes to a maximum depth of 100 metres, covering 2,860 metres of drilling. Seven high-priority target areas have been selected across the Karalundi, Junction and Curley's prospects. Programme is designed to validate historic gold and copper mineralisation and test the potential extensions in multiple directions, advancing understanding of these promising prospects. Initial results are expected to be received and reported early August 2026. Peak Hills represents the first active drilling campaign undertaken by Forgent as part of its Australian critical and precious metals strategy. Following receipt of PoW approval, the Company has completed detailed drill planning and target prioritisation. The final programme comprises approximately 42 aircore drill holes for approximately 2,860 metres of drilling across seven priority target areas identified through the review and reinterpretation of historic exploration data. The programme has been designed to verify anomalous historic gold and copper results, improve geological understanding and test potential extensions to mineralisation in multiple directions. The selected targets include two target areas at Karalundi, four at Junction and one at Curley's. Drilling is expected to commence on or around 21 June 2026 and continue for approximately three weeks, subject to operational and weather conditions. Samples will be submitted for laboratory analysis on completion of drilling, with assay results expected during early August 2026. The Peak Hills project is a large-scale gold and copper exploration project covering approximately 163 km² across five granted tenements in Western Australia. Forgent currently holds a 51% interest in the project with the option to increase ownership to 99%. Announcement • 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. Announcement • 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 Announcement • 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. Announcement • 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. Board Change • Apr 25
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. 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 (47% 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 (€126.1k 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). Announcement • Apr 15
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. Announcement • 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 Announcement • 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. Announcement • 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. Announcement • 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 • Nov 03
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. Announcement • 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 Reported Earnings • Jul 03
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). Announcement • 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. Announcement • 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 (96% 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 (€3.07m market cap, or US$3.49m). 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). Announcement • 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 Shares are highly illiquid. 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 (€3.11m market cap, or US$3.25m). Minor Risk Revenue is less than US$5m (€3.9m revenue, or US$4.0m). Reported Earnings • Sep 27
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 4.6% growth forecast for the Machinery industry in Germany. Announcement • 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. Announcement • 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. Announcement • 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. Announcement • 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. Announcement • 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 Announcement • 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 • Jun 30
Full year 2023 earnings released: €0.21 loss per share (vs €0.12 loss in FY 2022) 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 is forecast to grow 51% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. 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 Share price has been highly volatile over the past 3 months (29% average weekly change). Shareholders have been substantially diluted in the past year (78% increase in shares outstanding). Market cap is less than US$10m (€3.72m market cap, or US$3.97m). 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). Announcement • 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. Announcement • 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. Announcement • 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). Shares are highly illiquid. Shareholders have been substantially diluted in the past year (111% increase in shares outstanding). Market cap is less than US$10m (€5.23m market cap, or US$5.73m). Board Change • Dec 20
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. Announcement • 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. 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 released: €0.001 loss per share (vs €0.001 loss in FY 2021) 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 is forecast to grow 29% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 21% per year. Announcement • Nov 22
EQTEC plc Provides Project Update EQTEC plc provided an update on the EQTEC Italia Market Development Centre in Gallina, near Castiglione d'Orcia, Tuscany, Italy ("ItaliaMDC") and in particular, on improvements to the plant (the "Plant") in support of a sustainable business model, funded by its existing investors (the "Investors"), as set out in the Company's announcement on 21 June 2021. The project to recommission the Plant (the "Project") remains on track, with the commercial operations date ("COD") scheduled for December 2022, subject to the availability of service providers to complete work on ancillary equipment. Earlier this year, the Company employed an operations manager and operations specialists to run the Plant and has had EQTEC operations & maintenance ("O&M") specialists on site since October, to train and support the ramp up of the local team. The Company expects to take delivery of the last, critical, ancillary equipment this week, with mechanical and electrical completion of the Plant anticipated by the end of November 2022. The Project has overcome a number of unexpected delays with on-time delivery of key components and availability of service providers to support commissioning of specific pieces of ancillary equipment. The Company intends to continue communicating its progress with Italia MDC in coming weeks, in the run-up to full operation of its first Market Development Centre ("MDC"). The Company is also currently pursuing construction and commissioning of additional MDCs in Croatia, France and the UK. 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. Announcement • Nov 01
EQTEC plc Announces R&D Facility Successfully Upgraded for Hydrogen and RNG Testing EQTEC plc announced the successful completion of steam-oxygen gasification tests that confirm the suitability of EQTEC's synthesis gas ("syngas") technology for advanced biofuels production. The tests were undertaken at EQTEC's technology innovation facility in France, in partnership with the Energy from Biomass and Wastes ("ERBE") team, part of the Laboratoire d'Etudes et de Recherche sur le Matériau Bois ("LERMAB") at Université de Lorraine ("UL") in Epinal, France. Two series of tests were conducted in the first half of October 2022: one using established air-blown gasification configuration with refuse-derived fuel ("RDF"), based on equipment and an approach previously applied by EQTEC at LERMAB; the other test applying steam-oxygen capability made possible by equipment upgrades by EQTEC at the facility. Air-blown gasification supports electrical power and thermal energy applications, where the mix of hydrogen, methane and carbon dioxide in the syngas is less critical for the offtake application. Steam-oxygen gasification supports hydrogen, renewable natural gas ("RNG") and other advanced biofuel applications, where optimisation of the hydrogen, methane and carbon dioxide mix is critical for efficiency and productivity of the offtake. The upgrade to the LERMAB facility and both tests were implemented as part of EQTEC's technology innovation programme, as indicated in the Company's 2021 annual results and H1 2022 interim results. An independent report with detailed and definitive conclusions from the test results is expected to be issued by UL before the end of 2022. The Company expects the upgrade for steam-oxygen gasification to continue attracting the attention of strategic and technology partners with interest in conducting trials of new energy infrastructure for hydrogen, RNG and other advanced biofuels, based on EQTEC technology. Such tests are already scheduled for the first half of 2023. One of the greatest challenges for steam-oxygen gasification is efficient distribution of oxygen across the fluidised bed in the gasification reactor. Historically, most trials of this approach, by a range of research institutes and companies, have failed to achieve this, resulting in lower feedstock conversion efficiency, a lower quality syngas and thus a lower production and/or efficiency of hydrogen, methane or other offtake. The tests by EQTEC with ERBE in October 2022 represented the integrated team's first attempt with steam-oxygen gasification at the LERMAB facility, based on the new upgrades. The test was very successful, with strong stability in fluidisation and gasification temperature, which together indicate highly efficient oxygen distribution and feedstock conversion. Critically, syngas analysis indicated a clear increase in hydrogen concentration relative to that for air-blown gasification. The capability of EQTEC's advanced gasification technology to increase hydrogen production in this way indicates it is able to manipulate the thermochemical conversion process so as to maximise specific components of the syngas for greater production of advanced biofuels and chemicals. These tests, analyses and data generated will support refinements to EQTEC's proprietary process design, computational modelling and control systems in the interest of supporting a range of offtake application. The successful tests of EQTEC's air-blown gasification process technology follow similar, successful tests with RDF completed by the Company and ERBE in 2021, as well as successful tests with contaminated plastics completed in December 2021. The specific RDF used for the tests was provided by a prospective customer of EQTEC technology. Throughout the entirety of the air-blown gasification testing period, EQTEC technology provided consistently strong conversion results. The tests achieved their two primary goals of establishing and maintaining efficient gasification and smoothing the RDF feeding-in system. The analyses and results they produced provide further validation of EQTEC's proprietary, kinetic computational model and support continuous improvement of EQTEC's patented and proprietary process designs. Announcement • Oct 04
EQTEC plc to Report Q3, 2022 Results on Oct 18, 2022 EQTEC plc announced that they will report Q3, 2022 results at 7:30 AM, Central European Standard Time on Oct 18, 2022 Reported Earnings • Oct 01
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 4.8% growth forecast for the Machinery industry in Germany. 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 24% per year, which means it is significantly lagging earnings growth. Announcement • Sep 29
EQTEC plc to Report First Half, 2022 Results on Sep 29, 2022 EQTEC plc announced that they will report first half, 2022 results on Sep 29, 2022 Announcement • Jul 01
EQTEC plc to Report First Half, 2022 Results on Jul 14, 2022 EQTEC plc announced that they will report first half, 2022 results on Jul 14, 2022 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 9.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. 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. Announcement • Mar 31
EQTEC plc announced that it expects to receive £10 million in funding from Riverfort Global Opportunities Pcc Ltd, Yorkville Advisors Global LP EQTEC plc announced that it has entered into loan agreement that it will receive unsecured loan facility for gross proceeds of up to £10 million on March 29, 2022. The transaction will include participation from Riverfort Global Opportunities Pcc Ltd and YA II PN, Ltd., a fund managed by Yorkville Advisors Global LP. The company will receive funding in tranches. Each instalment of the Loan Facility will have a maturity date of 12 months from the date of advance with repayments of principal made on a monthly basis, as set out in a closing statement to be agreed at the time of each advance. The Loan Facility will accrue a fixed interest coupon equivalent to 7.5% of the Initial Advance and of any further advance, payable on a quarterly basis. The Loan Agreement has a commitment period of 18 months.
On the same day, the company received £5 million in its first tranche closing. Announcement • Sep 25
EQTEC plc (AIM:EQT) agreed to acquire 1 megawatt equivalent waste-to-energy gasification project in Livadia, Greece. EQTEC plc (AIM:EQT) agreed to acquire 1 megawatt equivalent waste-to-energy gasification project in Livadia, Greece on September 24, 2021. Announcement • Sep 15
EQTEC plc (AIM:EQT) acquired 1.2 MWe waste-to-energy gasification plant in Karlovac, Croatia for €1.2 million. EQTEC plc (AIM:EQT) acquired 1.2 MWe waste-to-energy gasification plant in Karlovac, Croatia for €1.2 million on September 14, 2021. The transaction was financed via a €1.2 million loan that is intended to be converted into privately placed bonds to meet local corporate requirements. It is estimated that the Plant will generate an unlevered IRR of 12% and annual EBITDA in excess of €0.7 million. James Harris and James Dance of Strand Hanson acted as financial advisor to EQTEC.
EQTEC plc (AIM:EQT) completed the acquisition of 1.2 MWe waste-to-energy gasification plant in Karlovac, Croatia on September 14, 2021. Announcement • Aug 13
EQTEC plc (AIM:EQT) acquired Waste-to-energy plant in Belisce, Croatia. EQTEC plc (AIM:EQT) acquired Waste-to-energy plant in Belisce, Croatia on August 11, 2021. Acquisition has been funded through a €0.55 million loan and a €1.7 million 10-year third-party loan, which it expects to convert into privately placed bonds to meet local corporate requirements.
EQTEC plc (AIM:EQT) completed the acquisition of Waste-to-energy plant in Belisce, Croatia on August 11, 2021. Announcement • May 29
EQTEC plc has completed a Follow-on Equity Offering in the amount of £16 million. EQTEC plc has completed a Follow-on Equity Offering in the amount of £16 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,066,666,656
Price\Range: £0.015
Transaction Features: Regulation S; Subsequent Direct Listing Announcement • May 19
EQTEC plc (AIM:EQT) acquired 1MWe waste-to-energy plant in Italy. EQTEC plc (AIM:EQT) acquired 1MWe waste-to-energy plant in Italy on May 17, 2021. The Plant is due to be fully recommissioned and operational by Q2 2022.
EQTEC plc (AIM:EQT) completed the acquisition of 1MWe waste-to-energy plant in Italy on May 17, 2021. Reported Earnings • Apr 21
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). Announcement • Mar 12
EQTEC plc Announces Collaboration Framework Agreement with Toyota Motor Manufacturing UK EQTEC plc announced that it has signed a Collaboration Framework Agreement (the "Agreement") with Toyota Motor Manufacturing (UK) Limited. The Agreement will be in place through EQTEC's wholly owned subsidiary, Logik WTE Limited (the "Project SPV"), the existing project SPV for the Deeside Refuse Derived Fuel project (the "DeesideRDF Project") in Flintshire, Wales. The Company is currently progressing a portfolio of advanced, waste-to-energy plant development projects across the UK, of which the Deeside RDF Project is one. Toyota and EQTEC will work together towards the possibility of establishing a supply of power and gas to the Toyota engine manufacturing site through the construction and commissioning of the Deeside RDF Project that is adjacent to the Toyota site. It is expected that the Deeside RDF Project will transform municipal, commercial and industrial waste. It will produce green bio-methane gas from the organic proportion of the waste with anaerobic digestion technology and convert the RDF portion of the waste, which would typically be destined for landfill or incineration, to generate green electricity, using EQTEC's Advanced Gasification technology and solutions. Pursuant to the Agreement, the Parties will also identify the waste viability of reducing Toyota's non-recyclable waste and potentially converting some or all of the waste into energy, through the dual, waste-to-energy approach, to be developed at the Deeside RDF Project. The Deeside RDF Project seeks to provide the local community, Toyota and other potential users with a decentralised energy source. It is intended that EQTEC will act as the land developer and technology provider for the plant. Recent Insider Transactions • Feb 11
Finance Director recently sold €542k worth of stock On the 3rd of February, Michael Madden sold around 25m shares on-market at roughly €0.022 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. Announcement • Jan 09
EQTEC plc Announces Partnership with Nobilis Pro Energy of Greece EQTEC plc announced that, together with its German EPC partner ewerGy GmbH, the Company has signed a Memorandum of Understanding with Nobilis Pro Energy S.A. As an established supporter of the waste-to-energy proposition, Nobilis has for many years researched options for waste treatment at olive mills and wineries and has received a licence and key permissions for a 0.9MWe gasification plant in Almyros, Greece. The MoU provides for the collaborative development of Nobilis's existing pipeline of opportunities in Thessalia and Central Greece and for the proposed delivery of these and further advanced gasification projects, starting with the Almyros Plant. The collaboration will be underpinned by a joint venture between EQTEC and ewerGy. The MoU, which will be formalised contractually, envisages that project SPVs will be established for each project opportunity taken forward by the parties, with the JV being the majority shareholder of each SPV and Nobilis as the minority shareholder. Each project will be subject to, inter alia, definitive agreements, funding and the granting of relevant permissions. The MoU sets out that Nobilis will be expected to provide the project pipeline, whilst the JV will be expected to source and provide project funding and project delivery capabilities (EQTEC will provide the design and core gasification technology and ewerGy will provide EPC services). Announcement • Dec 01
EQTEC plc Appoints Jeffrey Vander Linden as Chief Operating Officer EQTEC plc announced that, with immediate effect, Jeffrey Vander Linden has been appointed to the company’s board of directors in the role of Strategy & Operations Director and Chief Operating Officer. The newly defined role will focus on establishing project execution and business management disciplines, growing the company's partner ecosystem and strengthening the company's operational platform to scale its business through 2021 and beyond. Jeff has been working with the company since July 2020 in a consulting capacity, most recently as interim COO. Announcement • Nov 20
EQT Continues to Accelerate Portfolio Companies ESG Performance EQT announced the launch of a new ESG-linked Subscription Credit Facility (the "SCF" or "bridge facility") to the Infrastructure business line. The bridge facility, which is currently at EUR 2.7 billion with an upper limit of around EUR 5 billion, is backed by a syndicate of global financial institutions, including BNP Paribas and SEB acting as Sustainability Coordinators and BNP Paribas as Agent and Sustainability Agent. This new bridge facility follows company's launch of an ESG-linked SCF in its Private Equity business line in June 2020, which had the same upper size limit and represented the largest ever ESG-linked bridge facility in the global fund financing markets. The SCF will be coupled with an innovative pricing model designed to inspire and incentivize portfolio companies to improve their performance in the areas of gender equality on the board of directors and renewable energy transition, supported by a fundamental sustainability governance platform. The pricing mechanisms are directly linked to company's societal ambitions around diversity and climate as well as company's proven governance model and strong commitment to transparency and accountability. The aggregated results from the portfolio companies' ESG efforts will be compared with pre-set KPI targets and eventually impact the ESG-bridge facility's interest rate. In other words, the more ESG progress the portfolio companies demonstrate, the better the financing terms the fund will receive. At the same time, as targets are fulfilled, the societal impact will be substantial, effectively improving female board representation to 40% and the use of renewable electricity to 85% across the portfolio companies. 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. Announcement • Jul 24
EQTEC plc (AIM:EQT) signed an exclusivity agreement to acquire the Deeside Refuse Derived Fuel Project from Logik Developments Limited for £10 million. EQTEC plc (AIM:EQT) signed an exclusivity agreement to acquire the Deeside Refuse Derived Fuel Project from Logik Developments Limited for £10 million on July 23, 2020. The transaction is subject to definitive agreements, further due diligence and funding. James Harris, James Dance and Jack Botros of Strand Hanson acted as financial advisor to EQTEC in the transaction. Announcement • Jul 10
EQTEC plc has completed a Follow-on Equity Offering in the amount of £9 million. EQTEC plc has completed a Follow-on Equity Offering in the amount of £9 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,000,000,000
Price\Range: £0.0045
Transaction Features: Subsequent Direct Listing Announcement • Jun 18
EQTEC plc Auditor Raises 'Going Concern' Doubt EQTEC plc filed its Annual on Jun 15, 2020 for the period ending Dec 31, 2019. In this report its auditor, Grant Thornton, gave an unqualified opinion expressing doubt that the company can continue as a going concern. 
