Extension of IPO Warrants
Hydrogen Utopia International PLC has extended the term of its 40,000,000 IPO warrants, allowing holders to subscribe for ordinary shares at 15p until January 9, 2027, which is the fourth anniversary of the company's admission to the London Stock Exchange. This decision aligns with the company's strategic expansion into high-growth markets, particularly in the MENA region, following its securing of exclusive InEnTec PEM Melter technology licenses and obtaining an Investment Registration Certificate from Saudi Arabia. The company is actively pursuing commercialization and partnerships in Saudi Arabia and Oman to convert non-recyclable plastics into hydrogen and other low-carbon fuels.
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Hydrogen Utopia International PLC ("HUI" or the "Company"), a company holding the right to negotiate access to exclusive licences for the deployment of commercially proven InEnTec PEM Melter technology and developing its own proprietary process to convert non-recyclable plastic waste into hydrogen and other low-carbon fuels, is pleased to announce that the Directors have resolved to extend the term of the Company's warrants to subscribe for 40,000,000 ordinary shares issued to investors in connection with the placing and subscription undertaken at the time of the Company's IPO on the Access segment of the Aquis Stock Exchange on 6 January 2022 ("IPO Warrants").
Having secured the right to negotiate access to exclusive licences for the proven InEnTec PEM Melter technology across the MENA region, particularly within the Gulf Cooperation Council (GCC) countries, and following the recent granting of an Investment Registration Certificate by the Ministry of Investment of Saudi Arabia (MISA), the Company is now well positioned to advance its current negotiations into proposed commercialisation and partnerships across the region. The Board believes this is an exciting milestone and an appropriate time to extend the term of the IPO Warrants as HUI accelerates its expansion into high-growth markets.
The Kingdom of Saudi Arabia remains at the forefront of this regional transformation, championing clean energy innovation under Vision 2030. HUI is actively engaged in potential joint developments and commercial collaborations in Saudi Arabia and is in early discussions with its partners in Oman. Their shared objective is turning non-recyclable plastics into valuable hydrogen fuel, advancing national sustainability and circular economy goals.
The Company expects to provide further updates as soon as practicable.
IPO Warrant Extension Details
IPO Warrant holders will now be entitled to subscribe for one new ordinary share for each share originally subscribed for in the placing and subscription undertaken in connection with the Company's IPO on the Access segment of the Aquis Stock Exchange on 6 January 2022. The exercise period has been extended so that the IPO Warrants may now be exercised at any time up to the fourth anniversary of the Company's Admission to trading on the London Stock Exchange, namely until 9 January 2027.
The exercise price remains 15p per ordinary share, and all other terms and conditions of the IPO Warrants remain unchanged.
Howard White and Aleksandra Binkowska hold 13,333,334 and 266,666 IPO Warrants, respectively. The Directors holding IPO Warrants did not participate in the Board's consideration and approval of this extension.
The Board would like to take this opportunity to thank all shareholders for their continued confidence, loyalty, and belief in HUI's long-term vision.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.