Hydrogen Future Industries plc (AQSE:HFI), a Special Purpose Acquisition Vehicle (“SPAC”) formed to identify investment and acquisition opportunities within the Hydrogen Economy, announces that trading in its ordinary shares will commence on the Aquis Stock Exchange Growth Market (“AQSE”) at 8:00am, today (Wednesday, 1 December 2021), under the ticker “HFI” and ISIN: GB00BMCG7201.
The Company has been admitted to the Access Segment of AQSE (“Admission”) following successful completion of a fundraise of GBP 2,230,000.
The Board of the Company comprises David Ormerod, Executive Director, Daniel Maling, Non-executive Chairman, and Fungai Ndoro, Non-executive Director.
The issued share capital of the Company on Admission comprises 29,800,000 ordinary shares.
David Ormerod, Executive Director, commented: “The response to our strategy to invest in projects and companies across the Hydrogen Economy has been overwhelmingly positive; our timing could not be better as investors all around the world are waking up to the potential of hydrogen, while the decarbonisation agenda gathers pace.
We believe hydrogen can become a low-carbon energy resource capable of meeting the world’s energy needs, replacing traditional fossil fuels, and forming a substantial part of a clean energy portfolio. We are grateful to investors for sharing our belief in this extraordinary opportunity. We are looking forward to executing on our investment strategy.”
Pursuant to the AQSE Access Rules, the Directors, who in aggregate hold 1,750,000 ordinary shares, representing 5.9 per cent. of the Company’s issued share capital on Admission, are subject to a 12-month lock-in arrangement.
Furthermore, certain shareholders with holdings in excess of 10 per cent. of the Company’s issued share capital, prior to Admission, have agreed not to dispose of shares issued to them prior to Admission, for a period of six months from Admission (in aggregate 2,100,000 ordinary shares in the Company) – details of which are set out below:
| Name | Number of ordinary shares subject to lock-in on Admission | % of issued share capital on Admission | Total shareholding on Admission | % of total shareholding on Admission | % of total shareholding & warrants on a fully diluted basis post- Admission |
| David Lenigas | 1,100,000 | 3.7% | 2,100,000 | 7.1% | 8.5% |
| Charlie Wood | 1,000,000 | 3.4% | 1,000,000 | 3.4% | 5.3% |
The Company’s Admission Document is available to view here: Hydrogen-Future-Industries-Admission-Document.pdf (hydrogenfutureindustries.com)
The Directors of the Company accept responsibility for the contents of this announcement.
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