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 updates on progress on the settlement agreement with Logik Developments Limited and its wholly-owned subsidiary Logik WTE Limited (collectively, "Logik"). As previously announced, 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.

On 1 May 2024 the Company notified that it had received written confirmation from Logik of conditional exchange for the sale of the Land, with a long stop date for completion set for 28 June 2024, subsequently extended to 12 July 2024.

The Company has been informed that dialogue continues between the parties to the transaction and legal execution of final funding documents relating to the sale of the Land is ongoing. While the Company is not a party to the Land sale, it understands from parties familiar with the transaction that completion is still anticipated in the first half of August 2024 and with this in mind a new completion long stop date has not been agreed. 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 indicated 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.