Additional Subscription
8 April 2024
Hydrogen Future Industries plc
("HFI" or the "Company")
Additional Subscription
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, announces that the Company has raised an additional £60,000 through a subscription (the "Subscription") of 1,200,000 new ordinary shares of 1 pence each (the "Subscription Shares") at a price of 5 pence per new ordinary share (the "Subscription Price").
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"). In aggregate 600,000 Warrants have been issued as part of the Subscription.
Use of Proceeds
The proceeds of the Subscription will be used to further strengthen the Company's working capital position following the February 2024 equity raise of £552,500.
Admission
Application has been made for the 1,200,000 Subscription 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 11 April 2024.
Total Voting Rights
Following Admission, the Company's issued share capital will comprise 61,750,000 ordinary shares, with each share carrying the right to one vote. Therefore, the total number of voting rights in the Company will be 61,750,000. 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:
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Hydrogen Future Industries plc |
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Daniel Maling, Executive Director
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+44 (0) 20 3475 6834 |
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Vigo Consulting (Investor Relations) |
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Ben Simons |
+44 (0) 20 7390 0230 |
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Peter Jacob |
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Cairn Financial Advisers LLP (AQSE Corporate Adviser) |
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Ludovico Lazzaretti Liam Murray |
+44 (0) 20 72130 880 |
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Peterhouse Capital Limited (Broker) |
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Duncan Vasey |
+44 (0) 20 7469 0930 |
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
X (formerly Twitter): @HydrogenFI
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