Update on Settlement with Logik Developments

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 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 been informed by Logik, with confirmation from legal representatives of the buyer, that legal execution of certain documents relating to the sale of the Land has taken longer than expected, it is now in the final stages of execution with completion expected in the coming weeks.

To accommodate finalising legal execution of documents in connection with the sale of the Land, the completion long stop date of 28 June 2024 has been extended to 12 July 2024 by mutual agreement between buyer and seller. Completion funds are expected to be transferred on or around the completion date.

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 receive £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.