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, regrets to announce that the admission (“Admission”) of the Company’s entire issued share capital to the Official List of the Financial Conduct Authority by way of a Standard Listing under Chapter 14 of the Listing Rules and to trading on the London Stock Exchange’s Main Market for listed securities.
Which was due to take place today, has been delayed for highly technical reasons arising from the interaction of the rules and regulations relating to the Main Market and AQSE rules. The Company is working with its advisers and the FCA to resolve the issue, explained below, as rapidly as possible and anticipates that it will be able to announce a new Admission date very shortly.
Page 9 of HUI’s prospectus dated 15 December stated that “The Company’s securities are currently traded on the Access Segment of the AquisGrowth Market(“Aquis”)…”. As a result of discussions with Aquis and the FCA since the prospectus was published, it has become apparent that HUI cannot retain that Aquis listing once Admission has taken place. HUI has therefore been requested to publish a supplementary prospectus (“SP”) making it clear that it cannot retain that Aquis listing and explaining the implications of that in advance of Admission. HUI will, however, retain the Aquis listing until Admission occurs.
The process of preparing the SP is well underway but finalisation of the Admission date will be dependent upon approval of the SP by the FCA before Admission can occur. The Directors of HUI anticipate that the SP approval process should be rapid, but it is of course dependent upon the availability of personnel given the imminent holiday season.
The Directors of HUI strongly regret any inconvenience this delay may cause existing or potential investors, which has arisen due to circumstances beyond their control and is not a reflection of any business or commercial issue in relation to the Company.
The directors of HUI accept responsibility for this announcement.
For more information about the Company, please refer to our website: www.hydrogenutopia.eu
For further information please contact:
Hydrogen Utopia International PLC
Aleksandra Binkowska/Guy Peters
+44 20 3811 8770
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