Haydale Graphene Industries PLC Acquisition of HTI Minority Interest (0542F)
May 15 2017 - 2:00AM
UK Regulatory
TIDMHAYD
RNS Number : 0542F
Haydale Graphene Industries PLC
15 May 2017
The information contained within this announcement is deemed by
the Group to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
For immediate release 15 May 2017
Haydale Graphene Industries plc
('Haydale', the 'Company' or the 'Group')
Acquisition of Minority Interest of Haydale US Subsidiary
Completed
Haydale (AIM:HAYD), the global nanomaterials group, is pleased
to announce that the Group has completed the acquisition of the
minority equity interest not previously owned by it, in the Group's
US subsidiary, Haydale Technologies Inc. ('HTI'), from InVentures
Group, Inc. for a cash sum of US$513,500 ('Consideration'). The
Consideration has been settled from the Group's existing cash
resources.
The Consideration for the remaining 13.5% interest in HTI was
determined by an independent valuation conducted on HTI, which
included the nanomaterials business, Advanced Composite Materials,
acquired by Haydale in October 2016. Following this purchase of HTI
ordinary shares, Haydale now owns the entire issued share capital
of HTI.
Ray Gibbs, CEO of Haydale, said:
"We are pleased to have obtained 100% ownership of our US
operations. HTI is already making a meaningful contribution to the
Group's performance and we believe there is significant further
sales potential for our high quality silicon carbide fibres and
whiskers. As a result of leveraging Haydale's global reach,
opportunities are being opened up in new markets for existing
applications of HTI's advanced materials. In addition, we are
developing new applications in areas including 3D printing of metal
matrix composite parts as well combining our silicon carbide fibres
with functionalised graphene for high performance coatings. "
- Ends -
For further information:
Haydale Graphene Industries plc
Ray Gibbs, Chief Executive Officer Tel: +44 (0) 1269 842
946
Matt Wood, Finance Director www.haydale.com
Trevor Phillips, Head of Communications
Cairn Financial Advisers LLP (Nominated
Adviser)
Tony Rawlinson / Emma Earl Tel: +44 (0) 20 7213
0880
Cantor Fitzgerald Europe (Broker)
David Foreman / Will Goode (Corporate Finance) Tel: +44 (0) 20 7894
7000
David Banks / Mark Westcott / Alex Pollen
(Sales)
Media enquiries:
Buchanan
Henry Harrison-Topham / Jamie Tel: +44 (0) 20 7466 5000
Hooper
haydale@buchanan.uk.com www.buchanan.uk.com
Notes to Editors
Haydale is a global technologies and materials group that
facilitates the integration of 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 and China and operates from four facilities in the UK,
USA and the Far East.
For more information, please visit:
www.haydale.com
Twitter: @haydalegraphene
This information is provided by RNS
The company news service from the London Stock Exchange
END
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