GRANT OF SHARE OPTIONS
22 January 2024
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
Hydrogen Utopia International PLC ("HUI" or the "Company")
Hydrogen Utopia International PLC, a company specialising in converting non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, new materials or distributed renewable heat, is pleased to announce the grant of share options to James Nicholls-May, the Company's Chief Financial Officer.
HUI exercised its option to acquire 49% of Ohrid Organics Ltd ("Ohrid Organics") on 29 December 2023. James has played a key role in all aspects of the process, from initial financial due diligence on Ohrid Organics to the exercise of HUI's option. His continued involvement in the transaction is expected to contribute to a successful acquisition. The acquisition is anticipated to significantly benefit HUI and its shareholders.
The grant of share options allows James Nicholls-May to purchase £25,000 worth of shares in the Company at a price of 3.875p per share. These options vest immediately and are exercisable for a period of 10 years from 22 January 2025. The grant demonstrates HUI's commitment to attracting and retaining top talent and aligning employee interests with the long-term success of the Company.
Aleksandra Binkowska, CEO, commented: "I am delighted to grant James stock options in recognition of his outstanding contributions to HUI. James is a vital member of the HUI team. Over the last years he has shown exceptional commitment to the Company. This grant reflects my confidence in James. I expect James' role and responsibilities to evolve and broaden alongside HUI's growth trajectory following its anticipated acquisition of Ohrid Organics."
James Nicholls-May, Chief Financial officer, stated: "I am incredibly grateful for this opportunity and excited to continue contributing to the growth and success of HUI. I believe in our company's mission and future, and I am confident that HUI will make a global impact in the waste plastic to energy sector. "
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 converting 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.