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Hydrogen Future Ind. - Additional Subscription


Announcement provided by

Hydrogen Future Industries PLC · HFI

22/02/2024 15:11

Hydrogen Future Ind. - 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

+44 (0)20 3475 6834



Vigo Consulting (Investor Relations)

 

Ben Simons

+44 (0)20 7390 0230

Peter Jacob


 


Cairn Financial Advisers LLP (AQSE Corporate Adviser)

 

Ludovico Lazzaretti

Liam Murray

+44 (0)20 7213 0880


 

Peterhouse Capital Limited (Broker)

 

Duncan Vasey

+44 (0) 20 7469 0930

 

 

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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