Non-Convertible Working Capital Loan from CEO

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             

[phone]      

Alfred Henry Corporate Finance Limited (LSE Corporate Adviser)  

Nick Michaels/Maya Klein Wassink                                                    

[phone] 

Novum Securities Limited (Broker)                                                                     

Jon Belliss/Colin Rowbury                                

[phone] 

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. 

 

END