Eqtec settlement with Logik moves closer to completing.
Waste-to-value technology specialist Eqtec updated the market on its settlement agreement with Logik Developments and its subsidiary Logik WTE on Wednesday.
Eqtec (CDI)
14 August 2024 11:10:40
Source: Sharecast
The AIM-traded firm said the settlement was contingent on the sale of a site at Weighbridge Road in Deeside Industrial Park.
It said it had now been informed that the sale agreement had become unconditional, with all conditions met, and a long stop date of 16 August had been set for the transfer of funds.
On successful completion, Eqtec said it expected to receive £2m under the settlement agreement.
Eqtec previously reported that the sale was expected to complete by mid-August, after several extensions.
The company said it would provide further updates following the contractual closing and receipt of the settlement funds.
At 1027 BST, shares in Eqtec were up 11.54% at 1.45p.
Reporting by Josh White for Sharecast.com.
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