Haydale Graphene Industries PLC Grant of Warrants (0742I)
November 30 2022 - 4:22AM
UK Regulatory
TIDMHAYD
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 2.25 p 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 Performance Condition
to the Performance
Condition
For a period of 15 consecutive dealing days,
30% commencing after the date of the November
2022 Warrants and ending on or before the
30 September 2024 , the closing price of the
Ordinary Shares exceeds 4 p (four) per Ordinary
Share.
---------------------------------------------------
For a period of 15 consecutive dealing days,
30% commencing after the date of the November
2022 Warrants and ending on or before the
30 September 2025 , the closing price of the
Ordinary Shares exceeds 6 p (six) per Ordinary
Share.
---------------------------------------------------
For a period of 15 consecutive dealing days,
40% commencing after the date of the November
2022 Warrants and ending on or before the
30 September 2026 , the closing price of the
Ordinary Shares exceeds 8 p (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 Tel: +44 (0) 1269 842 946
Officer
www.haydale.com
finnCap (Nominated Adviser & Broker)
Julian Blunt/Edward Whiley, Corporate Tel: +44 (0) 20 7220 0500
Finance
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
Twitter: @haydalegraphene
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