TIDMHAYD
RNS Number : 8856R
Haydale Graphene Industries PLC
15 December 2016
The information contained within this announcement is deemed by
the Group to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
For immediate release 15 December 2016
Haydale Graphene Industries plc
('Haydale' or the 'Group')
AGM Statement
Directorate Change
Haydale (AIM:HAYD), the global nanomaterials group, will hold
its Annual General Meeting ('AGM') at 2.00 p.m. today at the
offices of Fieldfisher LLP, 9th Floor, Riverbank House, 2 Swan
Lane, London, EC4R 3TT. At the AGM the Chief Executive of Haydale,
Ray Gibbs, will make the following statement:
"Haydale continues to make good progress in what has been a
transformational year for the Group, and I am pleased to provide
the following update on our operations today:
Integration of Acquisitions
"The integration of Advanced Composites Materials ('ACM') into
the Group following its acquisition in mid-October 2016 has
proceeded as planned. ACM's revenue for the period under our
ownership from 13 October 2016 to the end of December is expected
to be approximately US$1.0 million and the business is on track to
achieve its budgeted sales for current financial year. The process
of introducing ACM's silicon carbide fibres and whiskers to our
customer base has already commenced, initially in South Korea, for
a cookware customer who is currently evaluating an entirely new
product range incorporating a novel "hybrid" graphene and silicon
carbide coating. Other new customer opportunities for introducing
ACM's nano-products are also advancing well, especially in
enhancing abrasion and erosion resistance of traditional composite
resins.
"Good progress has also been made with the acquisition of
Innophene, which is based in Thailand's largest Science Park near
Bangkok. We expect our laboratories to be operational,
incorporating a new HT60 functionalisation reactor, by March 2017.
Furthermore, we are pleased to have been recently awarded a small
funded project with the Malaysian Government on elastomers.
Products Update
"The recent joint announcement of our legally binding agreement
with Huntsman Advanced Materials ('Huntsman'), a subsidiary of
NYSE-listed The Huntsman Corporation, has cemented our technical
relationship in introducing graphene infused Araldite(R) epoxy
resin to targeted customers. The customer sampling process is now
expected to last 6-12 months, slightly longer than we had
originally anticipated and, if successful, would mean that
commercial revenues from this exciting agreement would likely
commence in the next financial year. We believe that the market
size for these products is truly global and generating significant
future revenues remains the key objective for both parties to the
agreement. A major factor in Huntsman's desire to commercialise
their epoxy resin is our ability to enhance their thermal
conductivity without affecting the processibility of the resin,
which is a difficult yet crucial requirement. We will continue to
invest in and develop further this important relationship with
Huntsman.
"We also continue to work closely with Flowtite Technology, a
world leading glass reinforced plastic ("GRP") pipe manufacturer,
to incorporate graphene into their next generation large diameter
water and sewerage GRP pipes. This project is on schedule and we
are set to conduct the first production trial in Q1 2017. If
successful, we understand that Flowtite Technology intends to
launch this new innovative product in the second half of next
year.
"Following the successful launch of our graphene enhanced 3D
printing PLA in September this year, we have started shipping reels
for sale by distributors in the UK, Europe and New Zealand. We will
update the market on product sales as we progress with widening
distribution, including through our overseas subsidiaries, and in
new territories such as China.
"Haydale is now working with some 'best in class' businesses
around the world, putting in place the foundations for the Group to
move to the next stage of our development in moving to a commercial
sales organisation. We believe that Haydale is gaining the
necessary credibility and standing in the market to make
significant advancements in the commercialisation of not only
Graphene but other product enhancing nanomaterials and we look at
the future with optimism."
Chairman Update
We announced in September that John Knowles is to retire and
step down as the Group's non-executive Chairman.
We have identified a suitable individual whom the Board believe
would provide a valuable contribution to the stewardship of Haydale
over the coming years. We and our advisers are currently
undertaking the necessary checks but are optimistic of making an
announcement in the New Year.
Directorate Change
Following the conclusion of today's AGM, Tony Belisario, a
non-executive Director of Haydale will resign from his position on
the Board with immediate effect to focus on other business
opportunities.
Ray Gibbs, said: "On behalf of the Haydale Board, I would to
thank Tony for his commitment and wise counsel since the Group was
established. He leaves with our very best wishes for the
future."
- Ends -
For further information:
Haydale Graphene Industries
plc
Ray Gibbs, Chief Executive Tel: +44 (0) 1269 842
Officer 946
Matt Wood, Finance Director www.haydale.com
Trevor Phillips, Head
of Communications
Cairn Financial Advisers LLP (Nominated
Adviser)
Tony Rawlinson / Emma Earl Tel: +44 (0) 20 7213
0880
Cantor Fitzgerald Europe (Broker)
David Foreman / Will Goode (Corporate Finance) Tel: +44 (0) 20 7894
7000
David Banks / Mark Westcott (Sales)
Media enquiries:
Buchanan
Henry Harrison-Topham / Jamie Tel: +44 (0) 20 7466 5000
Hooper
haydale@buchanan.uk.com www.buchanan.uk.com
Notes to Editors
Haydale has developed a patented scalable plasma process to
functionalise graphene and other nanomaterials. This enabling
technology can provide Haydale with a rapid and highly
cost-efficient method of supplying tailored solutions to enhance
applications for both raw material suppliers and product
manufacturers.
Crucially, the Haydale plasma process does not damage the
material being processed. Instead it will clean up any impurities
inherent in the raw material. The technology is a low energy user
and is therefore environmentally friendly. The Haydale process is a
patented enabling technology, allowing the Group to work with a raw
material producer who seeks to add value to the base product and
tailor the outputs to best service the target applications of the
end user.
Haydale has moved from being a R&D focused business towards
becoming a commercial entity and having made some transformational
acquisitions and partnerships in 2016, the Company has a robust
supply chain, with geographic presence not only in European but in
Asian and American markets.
Haydale houses a purpose-built facility for processing and
handling nanomaterials, and is facilitating the application of
nanomaterials in fields such as inks, sensors, energy storage,
composites, paints and coatings.
For more information please visit:
www.haydale.com
Twitter: @haydalegraphene
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFFWFWLFMSEFE
(END) Dow Jones Newswires
December 15, 2016 02:00 ET (07:00 GMT)
Haydale Graphene Industr... (LSE:HAYD)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Haydale Graphene Industr... (LSE:HAYD)
Historical Stock Chart
Von Jul 2023 bis Jul 2024