Haydale Graphene Industries PLC Issue of Shares (0988B)

TIDMHAYD

RNS Number : 0988B

Haydale Graphene Industries PLC

31 March 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  31 March 2017 
 

Haydale Graphene Industries plc

('Haydale' or the 'Company')

Issue of Shares

Haydale (AIM:HAYD), the global nanomaterials group, announces that it has received a further approximate GBP1.5 million from Everpower, being part of the third tranche of the aggregate GBP3.26 million strategic investment pursuant to the Subscription Agreement with Everpower announced on 3 February 2017. Haydale has now received a total of GBP1.82 million from Everpower pursuant to the Subscription Agreement. Accordingly, application has been made for 878,553 ordinary shares of 0.2 pence each in the Company ("Ordinary Shares") ("Tranche 3 Shares") to be admitted to trading on AIM, with admission expected to occur on or around 3 April 2017 ("Admission"). Following Admission, Everpower's interest in Haydale will be 1,070,281 Ordinary Shares, representing approximately 5.7 per cent. of the Company.

The issue of the balance of the 847,001 Tranche 3 Shares remains subject to the balance of GBP1.44 million being received by Haydale. The Board remains confident the outstanding monies will be received, not least because of recent meetings between senior management of both companies, but also pursuant to the terms of the Subscription Agreement, Everpower has requested and Haydale has agreed to extend the Long Stop Date to 30 April 2017. As a result, Everpower is required to subscribe for a further 191,728 new Ordinary Shares at the Subscription Price ("Extension Shares"). Issue of the Extension Shares remains subject to receipt of approx. GBP326,000. Unless otherwise stated, defined terms are set out in the Subscription Agreement announcement issued on 3 February 2017.

The 878,553 new Ordinary Shares will be credited as fully paid and will rank pari passu with the Company's existing Ordinary Shares. Following Admission, the total number of voting rights in the Company will be 18,711,212 Ordinary Shares and shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

- Ends -

For further information:

 
Haydale Graphene Industries plc 
Ray Gibbs, Chief Executive Officer              Tel: [phone] 
Matt Wood, Finance Director                               www.haydale.com 
Trevor Phillips, Head of Communications 
 
Cairn Financial Advisers LLP 
 (Nominated Adviser) 
Tony Rawlinson / Emma Earl                      Tel: [phone] 
 
Cantor Fitzgerald Europe (Broker) 
David Foreman / Will Goode (Corporate           Tel: [phone] 
 Finance) 
David Banks / Mark Westcott (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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March 31, 2017 02:01 ET (06:01 GMT)