StockMarketWire.com - Gasification technology group Eqtec said it had agreed to sell its Pluckanes wind farm in Ireland to BVP 2019 Finance Company for €1.1m.

The maximum net cash consideration for the sale was €384k, it added.

Of the gross sum, €779k had been transferred in the settlement of a debt owed by the company to an Irish bank.

An inter-company debt of €157k had also been repaid to the buyer, while €170k of the net consideration was being deferred and held in escrow subject to conditions.

'The disposal of Pluckanes is in accordance with the group's decision to focus solely on being the technology partner with proven proprietary patented technology for waste-to-value applications,' Eqtec said.

'The net proceeds of the disposal will be used for general working capital requirements of the company.'


At 1:12pm: [LON:EQT] Eqtec Plc Ord Eur0.001 share price was +0.06p at 0.57p



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