REG - Hydrogen Utopia Intl - Non-Convertible Working Capital Loan from CEO

Hydrogen Utopia InternationalAnnouncement

27/08/2024 07:00

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RNS Number : 6931B  Hydrogen Utopia International PLC  27 August 2024

The information contained within this announcement is deemed by the
Company to constitute inside information stipulated under the Market
Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018.  Upon the
publication of this announcement via the Regulatory Information Service,
this inside information is now considered to be in the public
domain. 

 

 

Hydrogen Utopia International PLC

 (the "Company" or "HUI")

 

Non-Convertible Working Capital Loan from CEO

 

Hydrogen Utopia International PLC, a company specialising in turning
non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels,
new materials or distributed renewable heat, announces that, it was notified
that Aleksandra Binkowska, Chief Executive Officer of HUI, will be drawing
down a first tranche of £500,000 under a non-recourse personal loan facility
of up to £3,000,000, pledging security over 50,000,000 ordinary shares
representing 12.97% of her 42.32% shareholding in the capital of the Company.
The personal loan facility has a term of 5 years but can be repaid after 2
years. Upon redemption of the personal loan facility, the pledged shares must
be returned.

It is the CEO's intention to support HUI's working capital needs with the
proceeds of this personal loan facility in the short to medium term without
having to resort to a dilutive equity raise.

The Board (Aleksandra Binkowska recusing herself) has considered the proposed
arrangements and the reasons for it and has confirmed that it agrees to these
arrangements.

Aleksandra Binkowska, CEO of HUI, commented: "HUI is not just another
lifestyle PLC. For me, it is a personal calling, driven by my deep belief in
the necessity and profitability of this technology. Despite the many
challenges we've encountered from the very start, my confidence in HUI's
success has never faltered. I understand that many of you, fellow investors,
share concerns about the current market conditions - I feel them deeply. I
want to reassure you that I am fully committed to ensuring HUI never falls
into a dilemma of heavily discounted fundraises. To that end, I have stepped
in to personally provide HUI with the necessary financial support, through a
personal lending facility structured to minimise the risk of my shares leaking
onto the market in any way, as they will remain in my name. This facility
eliminates the need for any heavily discounted dilutive actions that have
become a common theme in small-cap companies. The funds will allow HUI to
continue on its fundamental path to build the first plastic-to-hydrogen
facility, with the assistance of future revenue from the acquisition of 49% of
Ohrid Organics."

 

1.   Details of the person discharging managerial responsibilities/persons
closely associated

a.   Name: Aleksandra Binkowska

 

2.   Reason for the Notification

a.   Position/Status: Chief Executive Officer

b.   Initial Notification/Amendment: Initial

 

3.   Details of Issuer

a.   Name: Hydrogen Utopia International PLC

b.   LEI:  213800COE9HVHUKUE126

 

4.   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

a.   Description of the financial instrument, type of
instrument/Identification code (ISIN): Ordinary Shares / ISIN: GB00BMFR8J48

b.   Nature of the transaction: Pledging of shares

c.   Price(s) and volume(s):

Price          Volume

N/A            50,000,000

d.   Aggregated information:

Aggregated volume

50,000,000

Price          N/A

e.   Date and time of the transaction: first drawdown: 27 August 2024

f.    Place of the transaction: Outside of a trading venue

 

- end -

For further information, please contact: 

 

Hydrogen Utopia International PLC

Aleksandra Binkowska

+44 20 3811 8770     

 

Alfred Henry Corporate Finance Limited (LSE Corporate Adviser)

Nick Michaels/Maya Klein
Wassink
 

+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 hydrogen and other 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.

 

 

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