Hydrogen Future Industries PLC Additional Subscription

RNS Number : 1625E

Hydrogen Future Industries PLC

22 February 2024

 

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	[phone]
Vigo Consulting (Investor Relations)
Ben Simons	[phone]
Peter Jacob
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Ludovico Lazzaretti Liam Murray	[phone]
Peterhouse Capital Limited (Broker)
Duncan Vasey	[phone]

 

 

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

 

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END

 

 

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