Haydale Graphene Industries PLC Grant of Warrants (0742I)

TIDMHAYD

RNS Number : 0742I

Haydale Graphene Industries PLC

30 November 2022

 
  For immediate release    30 November 2022 
 

Haydale Graphene Industries plc

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

Grant of Warrants

Haydale (AIM: HAYD), the global advanced materials group , is pleased to announce that the Company has granted Warrants ("November 2022 Warrants") to a provider of business development services to the Company in China, over an aggregate of 1,000,000 ordinary shares of 2p each in the capital of the Company ("Ordinary Shares") (the "Grant"). The Grant has been made pursuant to the Rules of the Warrant Deed 2020, as announced by the Company on 9 July 2020.

The November 2022 Warrants have an exercise price of 2.25 p per Ordinary Share (being a 9.8 % premium to the closing mid-market price of the Company's Ordinary Shares on 29 November 2022, the day of the approval of the November 2022 Warrants) and can only be exercised between the third and tenth anniversary of the Grant. The proportion of the award that is capable of vesting is dependent on certain performance criteria, directly linked to the performance of the Company's share price over the period to 30 September 2026 as follows:

 
  % of November 2022 
   Warrants subject        Performance Condition 
   to the Performance 
   Condition 
                         For a period of 15 consecutive dealing days, 
           30%            commencing after the date of the November 
                          2022 Warrants and ending on or before the 
                          30 September 2024 , the closing price of the 
                          Ordinary Shares exceeds 4 p (four) per Ordinary 
                          Share. 
                       --------------------------------------------------- 
                         For a period of 15 consecutive dealing days, 
           30%            commencing after the date of the November 
                          2022 Warrants and ending on or before the 
                          30 September 2025 , the closing price of the 
                          Ordinary Shares exceeds 6 p (six) per Ordinary 
                          Share. 
                       --------------------------------------------------- 
                         For a period of 15 consecutive dealing days, 
           40%            commencing after the date of the November 
                          2022 Warrants and ending on or before the 
                          30 September 2026 , the closing price of the 
                          Ordinary Shares exceeds 8 p (eight) per Ordinary 
                          Share. 
                       --------------------------------------------------- 
 

There are no other vesting criteria for the November 2022 Warrants. If the share price does not reach the target price by their respective dates, that portion of the award will lapse. The 2022 Warrant's may also lapse in the event of a termination of services.

The Company's Remuneration Committee retains the ability to amend the performance conditions for the November 2022 Warrants and for future grants to ensure that such grants achieve the stated purpose.

Following the Grant, the Company's total number of Options, SARs and Warrants outstanding as at the date of this announcement is 242,758,392 representing approximately 23.6 % of the Company's existing issued share capital. For the avoidance of doubt, these figures include the Warrants issued pursuant to the Company's recent fundraise.

The number of Ordinary Shares currently in issue is 785,852,475 and it is this number that has been used to calculate the above percentage shareholdings.

For further information:

 
  Haydale Graphene Industries plc 
  Keith Broadbent, Chief Executive         Tel: [phone] 
   Officer 
                                                     www.haydale.com 
  finnCap (Nominated Adviser & Broker) 
  Julian Blunt/Edward Whiley, Corporate    Tel: [phone] 
   Finance 
   Andrew Burdis, ECM 
 

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, Australia, Japan and China and operates from six sites in the UK, USA and the Far East.

For more information please visit: www.haydale.com

Twitter: @haydalegraphene

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November 30, 2022 04:22 ET (09:22 GMT)