Update on Settlement Agreement with Logik

EQTEC plc (AIM: EQT), a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation is pleased to update on positive progress on the settlement agreement that it has reached with Logik Developments Limited and its wholly-owned subsidiary Logik WTE Limited (collectively, "Logik"). As announced by the Company on 03 April 2024, the timing of the payment of the settlement sum is subject to and conditional on the sale of a site at Weighbridge Road in Deeside Industrial Park (the "Land"), with payment expected following completion of a sale.

The Company has received written confirmation from Logik that exchange for the sale of the Land to a proposed purchaser, who is funded by a global investment company, has taken place. Completion of the purchase of the Land and receipt of funds by EQTEC remains conditional only upon the the final legal execution of certain documents pertaining to the project.

The long stop date for completion has been set for 28 June 2024, with completion expected by the end of May 2024.

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 receivce £2,000,000 under the settlement agreement.

A further update will be provided in due course.

Further information on the Company can be found at www.eqtec.com.