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 with Logik Developments Limited and its wholly-owned subsidiary Logik WTE Limited (collectively, "Logik"). As announced by the Company on 3 April 2024 and 28 June 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 and the buyer (the "Parties"), that legal execution of final funding documents relating to the sale of the Land is ongoing yet requiring some additional time to complete.

To accommodate finalising legal execution of the funding documents in connection with the sale of the Land, the Parties are in discussion to extend the completion long stop date of 12 July 2024. A new long stop date is expected to be agreed in the coming days and anticipated to be in the first half of August 2024. 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, including once a new long stop date has been agreed.

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