22 February 2024
Hydrogen Future Industries
PLC
("HFI" or the
"Company")
Additional Subscription, Issue of
Warrants,
Director Shareholding and Related Party
Transaction
Hydrogen Future Industries
PLC (AQSE: HFI), a developer of a proprietary
wind-based green hydrogen production system featuring an advanced
aerodynamic wind turbine and a high-performance electrolyser, that
further to the announcement on 20 February 2024, the Company has
raised an additional £7,500 through the issue of 150,000 new
ordinary shares of 1 pence each ("Ordinary Shares") at a price of 5
pence per new Ordinary Share ("Subscription Price") from Fungai
Ndoro, Non-Executive Director of the Company. The subscription
includes one warrant for every two new Ordinary Shares subscribed
for, exercisable at the Subscription Price for a period of two
years from Admission (as defined below) (the "Warrants"),
(together, the "Subscription").
|
Name
|
Position
|
Amount
|
No. of Ordinary Shares to be
issued
|
No. of Warrants to be
issued
|
Resulting
shareholding following
Admission
|
Resulting % shareholding following
Admission
|
|
Fungai Ndoro
|
Director
|
£7,500
|
150,000
|
75,000
|
400,000
|
0.66%
|
Related Party
Transaction
Fungai Ndoro is considered "Related Party" as defined
under the AQSE Growth Market Access Rulebook. The Subscription
therefore constitutes a Related Party Transaction for the purposes
of Rule 4.6 of the AQSE Growth Market Access Rulebook.
Neil Ritson and Daniel Maling, the Directors of
the Company independent of the Subscription, confirm that, having
exercised reasonable care, skill and diligence, the related party
transaction is fair and reasonable insofar as the shareholders of
HFI are concerned.
Admission
Application has been made for
the 150,000 Ordinary Shares to be admitted to trading on the Aquis Stock
Exchange Growth Market ("Admission"). Admission is expected to
occur at 8:00 a.m. on or around 28
February 2024.
Total Voting Rights
Following Admission, the Company's
issued share capital will comprise 60,550,000 ordinary shares, with
each share carrying the right to one vote. Therefore, the total
number of voting rights in the Company will be 60,550,000. 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
Liam Murray
|
+44 (0)20 7213 0880
|
|
|
|
|
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, incorporating hydrogen compression and
storage. 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 for more information about
Hydrogen Future Industries.
Visit our website:
www.hydrogenfutureindustries.com
Follow us on social
media:
LinkedIn: @Hydrogen
Future Industries
Twitter: @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.
|
Notification of a Transaction pursuant to Article 19(1) of
Regulation (EU) No. 596/2014
|
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
Name
|
Fungai Ndoro
|
|
Reason for notification
|
|
|
Position/Status
|
Director
|
|
Initial notification/
Amendment
|
Initial notification
|
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
Name
|
Hydrogen Future Industries
PLC
|
|
LEI
|
213800U3MWUSU24ARW11
|
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
|
Description of the financial
instrument, type of instrument
Identification Code
|
Ordinary shares
|
|
Nature of the transaction
|
Purchase of Ordinary Shares as part
of the Subscription
|
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
5p
|
150,000
|
|
|
|
|
Aggregated information
- Aggregated Volume
- Price
|
N/A
|
|
Date of the transaction
|
22 February 2024
|
|
Place of the transaction
|
AQSE, London
|
|
|
|
|
|
|
|
| |
|
Notification of a Transaction pursuant to Article 19(1) of
Regulation (EU) No. 596/2014
|
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
Name
|
Fungai Ndoro
|
|
Reason for notification
|
|
|
Position/Status
|
Director
|
|
Initial notification/
Amendment
|
Initial notification
|
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
Name
|
Hydrogen Future Industries
PLC
|
|
LEI
|
213800U3MWUSU24ARW11
|
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
|
Description of the financial
instrument, type of instrument
Identification Code
|
Warrants over ordinary
shares
|
|
Nature of the transaction
|
Warrants received as part of the
Subscription, exercisable for a period of two years from
Admission
|
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
5p
|
75,000
|
|
|
|
|
Aggregated information
- Aggregated Volume
- Price
|
N/A
|
|
Date of the transaction
|
22 February 2024
|
|
Place of the transaction
|
AQSE, London
|
|
|
|
|
|
|
|
| |