REG - Haydale Graphene Ind - Grant of Warrants

Haydale Graphene IndustriesAnnouncement

30/11/2022 09:30

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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 2.25p 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 to the Performance Condition

                                                                   Performance Condition
                                                                   For a period of 15 consecutive dealing days, commencing after the date of the

                                                                 November 2022 Warrants and ending on or before the 30 September 2024, the
 30%                                                               closing price of the Ordinary Shares exceeds 4p (four) per Ordinary Share.
                                                                   For a period of 15 consecutive dealing days, commencing after the date of the

                                                                 November 2022 Warrants and ending on or before the 30 September 2025, the
 30%                                                               closing price of the Ordinary Shares exceeds 6p (six) per Ordinary Share.
                                                                   For a period of 15 consecutive dealing days, commencing after the date of the

                                                                 November 2022 Warrants and ending on or before the 30 September 2026, the
 40%                                                               closing price of the Ordinary Shares exceeds 8p (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 Officer       Tel: +44 (0) 1269 842 946
                                                www.haydale.com (http://www.haydale.com)
 finnCap (Nominated Adviser & Broker)
 Julian Blunt/Edward Whiley, Corporate Finance  Tel: +44 (0) 20 7220 0500

 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 (http://www.haydale.com)

Twitter: @haydalegraphene

 

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