Hardide PLC Completion of Deferred Subscription (7167E)

TIDMHDD

RNS Number : 7167E

Hardide PLC

13 February 2018

Hardide plc

("Hardide" or "the Company")

Completion of Deferred Subscription

Hardide (AIM: HDD), the provider of advanced surface coating technology, is pleased to announce, further to its announcement on 27 October 2017, that the Company has received advanced assurance from Her Majesty's Revenue & Customs that the Deferred Subscription of GBP0.82m (as more fully described in that announcement) is eligible for EIS relief. Accordingly, the Deferred Subscription will complete following the issue of 48,294,117 new ordinary shares of 0.1 pence each ("Ordinary Shares") at 1.7 pence per Ordinary Share. The proceeds of the Deferred Subscription have been received by the Company.

Application has been made for these new Ordinary Shares to be admitted to trading on AIM and admission is expected to take place on 19 February 2018 ("Admission"). The new Ordinary Shares will rank pari passu with existing Ordinary Shares. Following Admission, the issued share capital of the Company will be 1,686,693,596 Ordinary Shares. The Company does not hold any ordinary shares in treasury. Therefore the total number of ordinary shares and voting rights in the Company is 1,686,693,596.

The above figure 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 change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

ENDS

For further information:

 
 
 Hardide plc                        Tel: [phone] 
  Philip Kirkham, CEO                     353830 
  Jackie Robinson, Communications 
  Manager 
 finnCap Limited                     Tel: +44 (0)20 
  Henrik Persson / James Thompson       7220 0500 
  / Alex Price 
 
 

Notes to Editors:

www.hardide.com

Hardide develops, manufactures and applies advanced technology tungsten-carbide coatings to a wide range of engineering components. Its patented technology is unique in combining, in one material, a mix of toughness and resistance to abrasion, erosion and corrosion; together with the ability to coat accurately interior surfaces and complex geometries. The material is proven to offer dramatic improvements in component life, particularly when applied to components that operate in very aggressive environments. This results in cost savings through reduced downtime and increased operational efficiency. Customers include leading companies operating in oil and gas exploration and production, valve and pump manufacturing, precision engineering and aerospace industries.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCGIGDDBUBBGIX

(END) Dow Jones Newswires

February 13, 2018 04:47 ET (09:47 GMT)