Haydale Graphene Ind (LON:HAYD) Proposed Placing and Open Offer

Proposed placing by way of an accelerated bookbuild to raise approximately £3.8 million (“Placing”)

Proposed subscriptions by certain Directors and others (“Subscription”)

and

Proposed open offer to raise up to £4.0 million (“Open Offer”)

(the Placing, Subscription and Open Offer together the “Fundraising”)

Appointment of CEO

Fundraising highlights

· Haydale intends to raise approximately £3.8 million before expenses through a Placing arranged by Arden Partners plc (“Arden”) of 190,000,000 new Ordinary Shares (“Placing Shares”) at a price of 2 pence per share (being the “Issue Price”) with new and existing shareholders.

· Further details of the Placing are set out below and in the Appendix to this Announcement.

· Certain of the Directors of Haydale, namely David Banks, Keith Broadbent, Laura Redman-Thomas and Roger Humm, and other(s) intend to subscribe for, in aggregate, approximately £0.2 million of new Ordinary Shares at the Issue Price, following publication of this announcement in respect of the Fundraising.

· In addition to the Placing and Subscription, the Company considers that it is important that all Shareholders be given an opportunity to participate in the Fundraising and is providing all Qualifying Shareholders with the opportunity to subscribe for an aggregate of up to 200,000,000 new Ordinary Shares (“Open Offer Shares”) at the Issue Price per share, to raise approximately £4.0 million (before expenses), on the basis of 7 New Shares for every 1 Existing Ordinary Share held on the Record Date (the “Open Offer”). Shareholders subscribing for their full entitlement under the Open Offer may also request additional Open Offer Shares through the Excess Application Facility.

· The funds raised from the Fundraising will be used to fund general working capital, restructuring costs and investment in equipment alongside the delivery of short-term commercial targets.

· Completion of the Fundraising is subject, inter alia, to Shareholder approval of certain resolutions to enable the issue of the New Ordinary Shares, which will be sought at a General Meeting of the Company expected to be held at 10.00 a.m. on 12 March 2019.

· On the passing of the necessary Shareholder resolutions to approve the Fundraising Keith Broadbent, COO, will be appointed CEO of the Group and lead the executive management team as the Group moves towards profitability.

· Admission of the New Ordinary Shares (“Admission”) is expected to take place on 13 March 2019.

· A Circular containing further details of the Fundraising and including a notice convening the General Meeting and application form is expected to be despatched to Shareholders following completion of the Bookbuild and will thereafter be available on the Company’s website at www.haydale.com.

 


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