Hydrogen Future Industries Plc Issue of Equity and Warrants
October 05 2023 - 8:08AM
UK Regulatory
TIDMHFI
5 October 2023
Hydrogen Future Industries plc
("HFI" or the "Company")
Issue of Equity and Warrants
Hydrogen Future Industries plc (https://hydrogenfutureindustries.com/) (AQSE:
HFI), a developer of a proprietary wind-based green hydrogen production system
featuring an advanced aerodynamic wind turbine and a high-performance
electrolyser, announces the issue of 1,750,000 new ordinary shares at a price of
10 pence per new ordinary share ("Deferred Consideration Shares") and warrants
over 875,000 new ordinary shares with an exercise price of 12 pence per new
ordinary share (which can be exercised immediately and will expire three years
from the date of issue) as the second tranche of consideration payable to the
vendors of various patents acquired by the Company as announced on 5 October
2022.
The Deferred Consideration Shares are subject to a 12-month lock-in agreement
from the date of issue.
Daniel Maling, Executive Director of HFI, commented:
"We at HFI are pleased to have completed the deferred component of the IP
acquisition at an effective share price of 10 pence. The suite of international
patents are derived from over 12 years of valuable research by Tim Blake
including the key aspects of our novel green hydrogen production system.
"The wind turbine component, which had previously demonstrated increased energy
generation of over 300% in wind tunnel testing, is now delivering similar
performance data in Montana where we have installed a 1 metre prototype.
"Tim and the team have been busy adjusting our wind turbine hardware in varying
weather conditions in Montana; whilst Dr Nicholas Blake is advancing our
development of the Anion Exchange Water Membrane electrolyser, which is free
from costly platinum group metal catalysts, in California. With both the turbine
and electrolyser testing proving positive, and our IP secured, we are focusing
on accelerating our partnering discussions and commercialisation pathways."
Admission
Application has been made for the 1,750,000 Deferred Consideration Shares to be
admitted to trading on the Aquis Stock Exchange Growth Market ("Admission").
Admission is expected to occur on or around 11 October 2023.
Total Voting Rights
Following Admission, the Company's issued share capital will comprise 49,500,000
ordinary shares, with each share carrying the right to one vote. Therefore, the
total number of voting rights in the Company will be 49,500,000. This figure may
be used by shareholders as the denominator for calculations by which they will
determine if they are required to notify their interest in the Company, or a
change to their interest in the Company, under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.
Enquiries:
Hydrogen Future Industries plc
Daniel Maling, Executive Director +44 (0)20 3475 6834
Vigo Consulting (Investor Relations)
Ben Simons +44 (0) 20 7390 0230
Peter Jacob
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Ludovico Lazzaretti +44 (0) 20 72130 880
Liam Murray
Peterhouse Capital Limited (Broker)
Duncan Vasey +44 (0) 20 7469 0930
Inside Information
This announcement contains inside information for the purposes of the UK Market
Abuse Regulation and the Directors of the Company accept responsibility for the
contents of this announcement.
About Hydrogen Future Industries
Hydrogen Future Industries was established to invest in projects and companies
focused on the Hydrogen Economy. We are developing a proprietary wind-based
hydrogen production system, featuring an advanced aerodynamic wind turbine and a
high-performance electrolyser. Through this technology, we aim to significantly
reduce the cost of hydrogen production from renewable sources and provide on
-demand energy storage in the form of hydrogen at a fraction of the cost of
lithium-ion battery storage. Click here (https://hydrogenfutureindustries.com/wp
-content/uploads/2022/07/HFI-Flyer-for-Website.pdf) for more information about
Hydrogen Future Industries.
Visit our website: www.hydrogenfutureindustries.com
Follow us on social media:
LinkedIn: @Hydrogen Future Industries (https://www.linkedin.com/company/hydrogen
-future-industries)
Twitter: @HydrogenFI (https://twitter.com/HydrogenFI)
Caution Regarding Forward Looking Statements
Certain statements made in this announcement are forward-looking statements.
These forward-looking statements are not historical facts but rather are based
on the Company's current expectations, estimates, and projections about its
industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,'
'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions
are intended to identify forward-looking statements. These statements are not a
guarantee of future performance and are subject to known and unknown risks,
uncertainties, and other factors, some of which are beyond the Company's
control, are difficult to predict, and could cause actual results to differ
materially from those expressed or forecasted in the forward-looking statements.
The Company cautions security holders and prospective security holders not to
place undue reliance on these forward-looking statements, which reflect the view
of the Company only as of the date of this announcement. The forward-looking
statements made in this announcement relate only to events as of the date on
which the statements are made. The Company will not undertake any obligation to
release publicly any revisions or updates to these forward-looking statements to
reflect events, circumstances, or unanticipated events occurring after the date
of this announcement except as required by law or by any appropriate regulatory
authority.
This information was brought to you by Cision http://news.cision.com
END
(END) Dow Jones Newswires
October 05, 2023 09:08 ET (13:08 GMT)
Hydrogen Future Industries (AQSE:HFI)
Historical Stock Chart
From Apr 2024 to May 2024
Hydrogen Future Industries (AQSE:HFI)
Historical Stock Chart
From May 2023 to May 2024
