Haydale Graphene Industries PLC Subscription to raise £450,000 (5603U)
25 November 2019 - 1:30PM
UK Regulatory
TIDMHAYD
RNS Number : 5603U
Haydale Graphene Industries PLC
25 November 2019
For immediate release 25 November 2019
Haydale Graphene Industries plc
('Haydale' or the 'Company')
Subscription to raise GBP450,000
Haydale (AIM:HAYD), the global advanced materials group, is
pleased to announce a subscription for new ordinary shares of
GBP0.02 each to raise GBP450,000 before expenses (the
"Subscription"). The Subscription funds will be used for general
working capital purposes. The Company had approximately GBP2.47
million of cash as at 31 October 2019.
Details of the Subscription, Issue of Equity and Total Voting
Rights
Pursuant to the Subscription, the Company will issue 22,500,000
new ordinary shares of GBP0.02 each (the "Subscription Shares") to
raise GBP450,000 (before expenses) at a price of 2.0 pence per new
ordinary share, representing a premium of 25 per cent. to the
closing mid-market price of the Company's shares on 22 November
2019. The Subscription Shares represent approximately 6.6 per cent.
of the Company's enlarged share capital.
Application will be made to the London Stock Exchange for the
Subscription Shares to be admitted to trading on AIM on or around
29 November 2019 ("Admission"). The Subscription Shares will rank
pari passu with the Company's existing ordinary shares of GBP0.02
each.
Following Admission, and in accordance with the Financial
Conduct Authority's Disclosure ("FCA") and Transparency Rules, the
Company hereby announces that it will have 340,223,848 ordinary
shares in issue, each share carrying the right to one vote. The
Company does not hold any ordinary shares in treasury.
Following Admission, the above figure of 340,223,848 ordinary
shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest, in the share capital of the Company under the FCA and
Transparency Rules.
David Banks, Non-executive Chairman of Haydale, commented: "We
are pleased to have received such strong support from two of our
existing shareholders who truly believe in the progress Haydale is
making on its commercialisation journey. The additional funds from
the Subscription enable our Executive Team to move forward with
additional confidence."
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations ("MAR") (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
- Ends -
For further information:
Haydale Graphene Industries plc
Keith Broadbent, CEO Tel: +44 (0) 1269 842 946
Gemma Smith, Global Head of Marketing www.haydale.com
Arden Partners plc (Nominated Adviser
& Broker)
Ruari McGirr / Paul Shackleton / Tel: +44 (0) 20 7614 5900
Ben Cryer
Notes to Editors
Haydale is a global technologies and materials group that
facilitates the integration of graphene and other nanomaterials
into the next generation of commercial technologies and industrial
materials. With expertise in graphene, silicon carbide and other
nanomaterials, Haydale is able to deliver improvements in
electrical, thermal and mechanical properties, as well as
toughness. Haydale has granted patents for its technologies in
Europe, USA and China and operates from 6 sites in the UK, USA and
the Far East.
For more information please visit:www.haydale.com
Twitter: @haydalegraphene
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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