Eqtec settlement with Logik moves closer to completing
Eqtec (CDI)
0.47p
16:55 20/12/24
Waste-to-value technology specialist Eqtec updated the market on its settlement agreement with Logik Developments and its subsidiary Logik WTE on Wednesday.
Construction & Materials
11,998.68
17:14 20/12/24
FTSE AIM All-Share
710.60
17:04 20/12/24
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.