Hydrogen Future Ind. - Additional Subscription
22/02/2024 15:11
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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 (https://hydrogenfutureindustries.com/) (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 Resulting % shareholding following Admission
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 +44 (0)20 7213 0880
Liam Murray
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
(https://hydrogenfutureindustries.com/wp-content/uploads/2022/07/HFI-Flyer-for-Website.pdf)
for more information about Hydrogen Future Industries.
Visit our website: www.hydrogenfutureindustries.com
(http://www.hydrogenfutureindustries.com)
Follow us on social media:
LinkedIn: @Hydrogen Future Industries
(https://www.linkedin.com/company/hydrogen-future-industries)
Twitter: @HydrogenFI (https://twitter.com/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/ Initial notification
Amendment
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
N/A
- Aggregated Volume
- Price
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/ Initial notification
Amendment
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
N/A
- Aggregated Volume
- Price
Date of the transaction 22 February 2024
Place of the transaction AQSE, London
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