Hydrogen Utopia Intl - Commencement of Trading on US OTCQB Market
RNS Number : 7458T
Hydrogen Utopia International PLC
26 July 2022
 

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26 July 2022

Hydrogen Utopia International PLC

 (the "Company" or "HUI")

COMMENCEMENT OF TRADING ON US OTCQB MARKET

 

 

Hydrogen Utopia International PLC (AQSE:HUI), a company pioneering non-recyclable waste plastics to hydrogen technology, is pleased to announce that trading in the Company's Ordinary Shares of 0.1 pence each ("Ordinary Shares") is expected to commence on the OTCQB Venture Market in the United States of America later today. The Ordinary Shares will have the OTCQB ticker HUIPF.

 

There is no capital raising associated with this cross trading and HUI's Ordinary Shares will continue to trade on its primary listing on AQSE under the ticker HUI.

Cross trading on the OTCQB market allows the Company to access one of the world's largest investment markets to expand its reach into a broader pool of investors. HUI's Ordinary Shares will be available to US investors during US working hours and priced in US dollars and thus has the potential to enable greater liquidity in the Company's shares on AQSE by easing cross-border trading for potential US investors. Further information about the OTCQB market can be found at:

  www.otcmarkets.com/learn/market-101

As a Foreign Private Issuer, HUI's onboarding to the OTC Markets is based on satisfaction of the requirements for OTCQB as applicable to international reporting companies including satisfaction of the criteria for the exemption under the US Exchange Act Rule 12g3-2(b) from SEC reporting. The Rule 12g3-2(b) exemption includes the disclosure obligation to ensure that certain information made public or distributed under home market regulations is made publicly available on the company's website or other electronic information delivery system in English. Thus, the Company will have no additional reporting obligations and incur minimal ongoing costs, compared to traditional major exchanges.

As a verified market, the OTCQB offers transparent trading for companies that have met a minimum bid price test, are current in their financial reporting and have undergone an annual verification and management certification process. The cross-trading facility is provided through OTC Markets Group Inc., located in New York. OTC Markets operates the world's largest electronic interdealer quotation system for US broker dealers and offers multiple media channels to increase the visibility of OTC-listed companies.  

HUI has appointed B. Riley Securities, Inc as its OTCQB Sponsor.

Guy Peters, Executive Chairman of HUI commented:

 

"Following our successful IPO in January 2022, we are looking to offer our shareholders increased liquidity and trading options. Joining the OTCQB market provides HUI with access to investors in a major market with minimal ongoing associated costs, significantly increasing our exposure and trading liquidity with no additional reporting requirements. We are aiming to build a leading business in waste plastic to hydrogen and we are pleased to be offering US investors the opportunity to participate in our growth."

Aleksandra Binkowska, Chief Executive Officer of HUI commented:

 

 "It is a privilege and delight to have been admitted to the OTCQB market, which should permit electronic access to all of our Continental supporters who up until now were not able to trade HUI equity electronically. Moreover, it is an exciting opportunity for the American investment community looking for genuine ESG investment opportunities"

 

For more information about the Company, please refer to our website: www.hydrogenutopia.eu

 

For further information please contact:

 

Hydrogen Utopia International PLC

Kate Templeman

Communications Manager

Hydrogen Utopia International

+447312530958

Kate.templeman@hydrogenutopia.eu

www.hydrogenutopia.eu  

 

Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser)

Jon Isaacs                                                       

+44 20 3772 0021

                                                                                                                           

Novum Securities Limited (Broker)                                                                    

Jon Belliss/Colin Rowbury                              

+44 20 7399 9400

 

About Hydrogen Utopia International PLC

HUI aims to become one of the leading new European companies specialising in turning non-recyclable mixed waste plastic into carbon-free fuels, new materials or distributed renewable heat.

 

A HUI facility uses non-recyclable mixed waste plastic as feedstock and turns it into syngas from which new products and energy can be produced. HUI anticipates that its revenues will be derived from a variety of sources, dependent upon location and configuration of the HUI facilities, including the sale of syngas, hydrogen and other gases, electricity and heat sales, and the payment to it of fees for a given quantity of non-recyclable mixed waste plastic received at a HUI facility.

 

HUI will target areas where there is significant private sector interest or potential, financial backing is accessible and or where substantial EU and/or government funded sources of grants and loans are or may be available. The global increase in fossil fuel-based energy prices reinforces the need for alternative, price competitive energy sources, which HUI's business model can provide.

 

The pressing need to deal with growing amounts of waste plastic combined with a real momentum in the use of hydrogen from renewable sources may pave the way for a rapid deployment of and investment in HUI facilities.                                                                                                    

 

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