The information contained within this announcement is deemed
by the Company to constitute inside information stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part
of UK domestic law by virtue of the European Union (Withdrawal) Act
2018. Upon the publication of this announcement via
the Regulatory Information Service, this inside information is now
considered to be in the public domain.
Hydrogen
Utopia International PLC
(the "Company"
or "HUI")
Non-Convertible Working Capital Loan from CEO
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, announces that, it was notified that Aleksandra Binkowska, Chief Executive
Officer of HUI, will be drawing down a first tranche of £500,000
under a non-recourse personal loan facility of up to £3,000,000,
pledging security over 50,000,000 ordinary shares representing
12.97% of her 42.32% shareholding in the capital of the Company.
The personal loan facility has a term of 5 years but can be repaid
after 2 years. Upon redemption of the personal loan facility, the
pledged shares must be returned.
It is the CEO's intention to support
HUI's working capital needs with the proceeds of this personal loan
facility in the short to medium term without having to resort to a
dilutive equity raise.
The Board (Aleksandra Binkowska
recusing herself) has considered the proposed arrangements and the
reasons for it and has confirmed that it agrees to these
arrangements.
Aleksandra Binkowska, CEO of
HUI, commented: "HUI is not just another lifestyle PLC. For me, it
is a personal calling, driven by my deep belief in the necessity
and profitability of this technology. Despite the many challenges
we've encountered from the very start, my confidence in HUI's
success has never faltered. I understand that many of you, fellow
investors, share concerns about the current market conditions
- I feel them deeply. I want to reassure you that I am fully
committed to ensuring HUI never falls into a dilemma of heavily
discounted fundraises. To that end, I have stepped in to personally
provide HUI with the necessary financial support, through a
personal lending facility structured to minimise the risk of my
shares leaking onto the market in any way, as they will remain in
my name. This facility eliminates the need for any heavily
discounted dilutive actions that have become a common theme in
small-cap companies. The funds will allow HUI to continue on its
fundamental path to build the first plastic-to-hydrogen facility,
with the assistance of future revenue from the acquisition of 49%
of Ohrid Organics."
1. Details of the person
discharging managerial responsibilities/persons closely
associated
a. Name: Aleksandra
Binkowska
2. Reason for the
Notification
a. Position/Status: Chief
Executive Officer
b. Initial
Notification/Amendment: Initial
3. Details of
Issuer
a. Name: Hydrogen Utopia
International PLC
b. LEI:
213800COE9HVHUKUE126
4. Details of the
transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and
(iv) each place where transactions have been
conducted
a. Description of the financial
instrument, type of instrument/Identification code
(ISIN): Ordinary Shares / ISIN:
GB00BMFR8J48
b. Nature of the
transaction: Pledging of
shares
c. Price(s) and
volume(s):
Price Volume
N/A
50,000,000
d. Aggregated
information:
Aggregated volume
50,000,000
Price
N/A
e. Date and time of the
transaction: first drawdown: 27
August 2024
f.
Place of the
transaction: Outside of a trading
venue
- end
-
For further information, please
contact:
Hydrogen Utopia International
PLC
Aleksandra
Binkowska
+44 20 3811
8770
Alfred Henry Corporate Finance
Limited (LSE Corporate Adviser)
Nick Michaels/Maya Klein
Wassink
+44 20 3772
0021
Novum Securities Limited
(Broker)
Jon Belliss/Colin
Rowbury
+44 20 7399 9400
About Hydrogen Utopia International
PLC
HUI aims to become one of the
leading new European companies specialising in turning
non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels,
new materials or distributed renewable
heat.
A HUI facility uses non-recyclable
mixed waste plastic as feedstock and turns it into syngas from
which new products and energy can be produced. HUI anticipates that
its revenues will be derived from a variety of sources, dependent
upon location and configuration of the HUI facilities, including
the sale of syngas, hydrogen and other gases, electricity and heat
sales, and the payment to it of fees for a given quantity of
non-recyclable mixed waste plastic received at a HUI
facility.
HUI will target areas where there is
significant private sector interest or potential, financial backing
is accessible and or where substantial EU and/or government funded
sources of grants and loans are or may be available. The global
increase in fossil fuel-based energy prices reinforces the need for
alternative, price competitive energy sources, which
HUI's business
model can provide.
