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Eqtec PLC - Cork, Ireland-based gasification company focused on turning waste into sustainable energy - Signs news unsecured loan facility of up to £10 million provided by Riverfort Global Opportunities PCC Ltd and YA II PN Ltd. Initial advance of £5 million is to be paid, with any further advances to be agreed between all parties.
Fixed interest coupon will be calculated as 7.5% of value of each advance of the loan facility.
Proceeds from the facility will go towards funding further growth and development activities in key markets.
Current stock price: 1.03 pence, down 6.4%
12-month change: down 46%
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