Business
Proposed Strategic Investment
Proposed Strategic Investment.
About this update from Haydale Plc
[{"type":"text","content":"\n \nRNS Number : 9343V Haydale Graphene Industries PLC 03 February 2017 \n\nThe 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.\n \n\n\n\n\n \nFor immediate release\n\n\n3 February 2017\n\n\n\n\n \n \nHaydale Graphene Industries plc\n(\"Haydale\", \"Group\" or the \"Company\")\n \nProposed Strategic Investment of £3.3 million into Haydale by Everpower\n \nHaydale (AIM:HAYD), the global nanomaterials group, is pleased to announce that Haydale and Everpower International Holdings Co. Ltd, a New York-based investment company, engaged in investing in leading edge technologies and integration of these technology into China and which has existing graphene interests in China, have agreed subject to contract, to enter into a collaboration agreement as described below and, as a first step, Everpower has conditionally agreed to make a strategic investment in Haydale of £3.26 million (the \"Subscription\") to acquire a 9.9 per cent. shareholding, through its subsidiary Fu Xing New Materials Development (Heze) Co., Ltd (\"Everpower\"). \n \nHaydale and Everpower (together the \"Collaboration Partners\") have entered into non-binding heads of terms as a pre-cursor to entering into an 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\"). It is expected that the Collaboration Partners will negotiate and enter into the Collaboration Agreement following completion of the proposed Investment, further details of which are set out below. \n \nStrategic investment into Haydale\nEverpower has conditionally agreed to invest approximately £3.26 million into Haydale via a subscription for such number of shares as will constitute 9.9% of the issued share capital of Haydale at the time of completion of the Subscription (expected to be 1,917,282 ordinary shares of 0.2 pence each (\"Ordinary Shares\")), at a price of £1.70 per Ordinary Share (\"Subscription...