MetalNRG plc, (LON:MNRG), the natural resources and energy investment company, is pleased to announce that is has entered a share exchange agreement with EQTEC Plc (AIM: EQT) (“EQTEC”), with whom MNRG has an existing Business Development Partnership Agreement.
MNRG has subscribed for 23,600,000 EQTEC Shares at yesterday’s market closing price and EQTEC has subscribed for 100,000,000 MNRG Shares also at yesterday’s closing price, the transaction is valued at £295,000.
MNRG has made applications to:
(a) the FCA for Admission of the MNRG Shares to the standard segment of the Official List; and
(b) the London Stock Exchange plc for Admission of the MNRG Shares to trading on the main market for listed securities.
Admission is expected to take place at 8.00am on 21st December 2021.
Total Voting Rights
In conformity with DTR 5.6.1, the Company notifies that, as at the date of this announcement, it has a single class of shares in issue being ordinary shares and that, following the issue of the 100,000,000 new MNRG Shares described above, the total number of ordinary shares in issue will be 1,135,219,460. There are no ordinary shares held in treasury. Each ordinary share entitles the holder to a single vote at general meetings of the Company.
The figure of 1,135,219,460 ordinary shares may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
Rolf Gerritsen commented, “I am delighted with this further commitment with EQTEC and look forward to working together over the coming years. This expanded arrangement strengthens the ties between the Parties, as MetalNRG continues to invest, develop and deliver sustainable, shovel-ready green energy projects, with a specific focus on biomass and waste-to-energy projects in the UK and Europe, to reduce CO2 emissions and contribute the achievement of 2050 Net Zero goals, whilst working with EQTEC as a leading technology and innovation partner. ”
The release of this information was arranged by Rolf Gerritsen, Chief Executive Officer.
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