Annual General Meeting and Share Issuance Authorities
30 August 2022
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Hydrogen Utopia International PLC (AQSE:HUI, OTCQB:HUIPF), a company pioneering non-recyclable waste plastics to hydrogen technology, is pleased to announce that its Annual General Meeting (“AGM”) will be held on 5 September 2022 at 11.00 a.m. at the offices of Laytons LLP, Pinners Hall, 105-108 Old Broad Street, London EC2N 1ER. The AGM is open to all shareholders; any other persons wishing to attend may be admitted at the discretion of the Directors of the Company.
At the AGM, resolution number 10, if passed, will give the Directors power to allot shares or grant options or other rights to subscribe for or convert any security into shares in the Company. Resolution number 11, if passed will, give the Directors power to allot shares in the Company for cash on a non-pre-emptive basis or in a way that departs from the statutory requirements set out in the Companies Act 2006.
Both powers are generally taken at the annual general meeting of publicly quoted UK companies. In the case of the AGM, however, the resolutions to be put to the Company in each of resolutions 10 and 11 gave authorities for an amount of shares equal to one half of the current issued share capital.
The Directors have, subsequent to the posting of the notice of AGM, reconsidered these amounts and resolved that, if granted, the relevant authorities set out in resolutions numbered 10 and 11 will not be exercised above a level equivalent to one quarter of the Company’s current issued share capital, save as necessary to allow the issue of any shares pursuant to the exercise of any existing warrants or options in the Company.
For further information please contact:
Hydrogen Utopia International PLC
Aleksandra Binkowska/Guy Peters
+44 20 3811 8770
Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser)
Jon Isaacs
+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 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.
The pressing need to deal with growing amounts of waste plastic combined with a real momentum in the use of hydrogen from renewable sources may pave the way for a rapid deployment of and investment in HUI facilities.