Eqtec PLC on Monday said that it has postponed the planned completion of a share subscription.

The Cork, Ireland-based thermochemical conversion technology company said that completion has been postponed due to a delay in receipt of funding by Verde Corp.

‘Verde has notified the company that the funds designated for the subscription form part of a syndicated investment pool linked to another unrelated transaction in the US, that must complete in tandem with the investment into Eqtec,’ the company said.

It added that it has signed a new subscription letter with Verde, for the same total subscription amount, replacing the one signed a month ago.

Eqtec shares fell 6.1% to 2.30 pence each on late Monday morning in London.

Copyright 2024 Alliance News Ltd. All Rights Reserved.