Issue of Equity and Warrants
05/10/2023 14:08
5 October 2023
Hydrogen Future Industries plc
("HFI" or the "Company")
Issue of Equity and Warrants
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, announces the issue of 1,750,000 new ordinary shares at a price
of 10 pence per new ordinary share ("Deferred Consideration Shares") and
warrants over 875,000 new ordinary shares with an exercise price of 12 pence
per new ordinary share (which can be exercised immediately and will expire
three years from the date of issue) as the second tranche of consideration
payable to the vendors of various patents acquired by the Company as announced
on 5 October 2022.
The Deferred Consideration Shares are subject to a 12-month lock-in agreement
from the date of issue.
Daniel Maling, Executive Director of HFI, commented:
"We at HFI are pleased to have completed the deferred component of the IP
acquisition at an effective share price of 10 pence. The suite of
international patents are derived from over 12 years of valuable research by
Tim Blake including the key aspects of our novel green hydrogen production
system.
"The wind turbine component, which had previously demonstrated increased
energy generation of over 300% in wind tunnel testing, is now delivering
similar performance data in Montana where we have installed a 1 metre
prototype.
"Tim and the team have been busy adjusting our wind turbine hardware in
varying weather conditions in Montana; whilst Dr Nicholas Blake is advancing
our development of the Anion Exchange Water Membrane electrolyser, which is
free from costly platinum group metal catalysts, in California. With both the
turbine and electrolyser testing proving positive, and our IP secured, we are
focusing on accelerating our partnering discussions and commercialisation
pathways."
Admission
Application has been made for the 1,750,000 Deferred Consideration Shares to
be admitted to trading on the Aquis Stock Exchange Growth Market
("Admission"). Admission is expected to occur on or around 11 October 2023.
Total Voting Rights
Following Admission, the Company's issued share capital will comprise
49,500,000 ordinary shares, with each share carrying the right to one vote.
Therefore, the total number of voting rights in the Company will be
49,500,000. 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 72130 880
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, featuring an advanced aerodynamic wind turbine and
a high-performance electrolyser. 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
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.
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