Haydale Graphene Industries PLC Acquisition of HTI Minority Interest (0542F)

TIDMHAYD

RNS Number : 0542F

Haydale Graphene Industries PLC

15 May 2017

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 May 2017 
 

Haydale Graphene Industries plc

('Haydale', the 'Company' or the 'Group')

Acquisition of Minority Interest of Haydale US Subsidiary Completed

Haydale (AIM:HAYD), the global nanomaterials group, is pleased to announce that the Group has completed the acquisition of the minority equity interest not previously owned by it, in the Group's US subsidiary, Haydale Technologies Inc. ('HTI'), from InVentures Group, Inc. for a cash sum of US$513,500 ('Consideration'). The Consideration has been settled from the Group's existing cash resources.

The Consideration for the remaining 13.5% interest in HTI was determined by an independent valuation conducted on HTI, which included the nanomaterials business, Advanced Composite Materials, acquired by Haydale in October 2016. Following this purchase of HTI ordinary shares, Haydale now owns the entire issued share capital of HTI.

Ray Gibbs, CEO of Haydale, said:

"We are pleased to have obtained 100% ownership of our US operations. HTI is already making a meaningful contribution to the Group's performance and we believe there is significant further sales potential for our high quality silicon carbide fibres and whiskers. As a result of leveraging Haydale's global reach, opportunities are being opened up in new markets for existing applications of HTI's advanced materials. In addition, we are developing new applications in areas including 3D printing of metal matrix composite parts as well combining our silicon carbide fibres with functionalised graphene for high performance coatings. "

- Ends -

For further information:

 
Haydale Graphene Industries plc 
Ray Gibbs, Chief Executive Officer              Tel: [phone] 
                                                                  946 
Matt Wood, Finance Director                           www.haydale.com 
Trevor Phillips, Head of Communications 
 
Cairn Financial Advisers LLP (Nominated 
 Adviser) 
Tony Rawlinson / Emma Earl                       Tel: [phone] 
                                                                 0880 
 
Cantor Fitzgerald Europe (Broker) 
David Foreman / Will Goode (Corporate Finance)   Tel: [phone] 
                                                                 7000 
David Banks / Mark Westcott / Alex Pollen 
 (Sales) 
 

Media enquiries:

 
Buchanan 
Henry Harrison-Topham / Jamie  Tel: [phone] 
 Hooper 
[e-mail]              www.buchanan.uk.com 
 

Notes to Editors

Haydale is a global technologies and materials group that facilitates the integration of 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 four facilities 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 company news service from the London Stock Exchange

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May 15, 2017 02:00 ET (06:00 GMT)