Ray Gibbs, CEO of Haydale LON:HAYD, said: “Last week I, with some of our senior team, met government officials and commercial business leaders in Chengdu and Fuzhou. The week was a great success and sets the scene for our exclusive collaboration in China. The whole visit was very encouraging with significant interest in our conductive inks and Silicon Carbide. Additionally and most significantly, the recent increase in mechanical uplifts of carbon fibre pre preg achieved with our graphene has really excited the Chinese “in country” vehicle business looking at light weighting and incorporating graphene and other Haydale offerings to make the next generation automobile. We are now considering our China infrastructure to meet what is looking like substantial new opportunities for our graphene and nanomaterial products.”
Haydale (AIM:HAYD), the global nanomaterials group, announced this morning that it has received a further approximate GBP1.3 million from Everpower, being part of the final tranche of the aggregate strategic investment pursuant to the Subscription Agreement with Everpower announced on 3 February 2017. Haydale has now received a total of approximately GBP3.12 million from Everpower. Accordingly, application has been made for 763,247 ordinary shares of 2 pence each in the Company to be admitted to trading on AIM, with admission expected to occur on or around 12 April 2017. Following Admission, Everpower’s interest in Haydale will be 1,833,528 Ordinary Shares, representing approximately 9.5 per cent. of the Company.
The issue of the balance of the 275,482 Ordinary Shares remains subject to the balance of GBP0.47 million being received by Haydale, which includes the 191,728 Extension Shares announced on 31 March 2017. The Board remains confident that the outstanding monies will be received, at which point, Haydale and Everpower will begin negotiating the exclusive binding collaboration agreement to manufacture, supply and market existing Haydale products and develop nanomaterials and new graphene products for the Chinese market (the “Collaboration Agreement”).
