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Share Price: 0.385
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Haydale Graphene Shares Dive On Capital Raise, Interim Loss Widens (ALLISS)

Fri, 22nd Feb 2019 09:20

LONDON (Alliance News) - Haydale Graphene Industries PLC on Friday reported a widened interim pretax loss due to a 20% fall in revenue.

Haydale has also said it will raise around GBP3.8 million to fund general working capital, restructuring costs, and and equipment investments.

The company, which develops additives to create enhanced materials like carbon fibre and silicon carbide, will place 190 million new ordinary shares at 2p per share.

It also launched a 200 million share open offer at the same price to raise a further GBP4 million.

Shares in the company were trading 76% lower at 2.85 pence each in morning trade.

Following shareholder approval for the fundraising, the company's Chief Operating Officer Keith Broadbent will move to the chief executive role.

The company on Wednesday confirmed speculation regarding the equity placing and said it was in talks with investors regarding a "materially" discounted share issue.

In December, Haydale agreed a new GBP750,000 16-month loan with the Development Bank of Wales and raised GBP250,000 via a share subscription at 20p a share.

For the six months to 2018-end, the company recorded a pretax loss of GBP3.5 million compared with a GBP2.7 million loss in the year ago period, on revenue of GBP1.6 million from GBP2.0 million.

Administrative costs increased to GBP4.7 million from GBP4.3 million.

"We will continue to implement the management actions already started to re-set the cost base and consolidate the group's position over the next six months with our focus on SiC, functionalised inks and graphene composites. There will be a marginal impact on sales in the current financial year as the changes are bedded in," said Interim Executive Chair David Banks.

"However, we are recruiting specific sales personnel to deliver on our expected growth over the medium term without adding to the cost base, as we move from Research & Development to commercial sales. We are looking to leverage our significant investment made in our US business to create a stable platform for the group to enable us to achieve our plan to profitability," Banks added.

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18 Sep 2018 11:58

Haydale Graphene Loss Widens As Administrative Expenses Surge

LONDON (Alliance News) - Haydale Graphene Industries PLC said Tuesday that its annual loss widened on increased costs and despite 13% rise in revenue.For the year to June 30, the advanced a

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11 Sep 2018 10:41

WINNERS & LOSERS SUMMARY: Ashtead Rises After Strong First Quarter

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - Group, up 2.5%. The equipment rentals firm said

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11 Sep 2018 10:18

Haydale Graphene Holds Talks With Partner After Disappointing Trial

LONDON (Alliance News) - Haydale Graphene Industries PLC shares fell on Tuesday as the advanced materials group said it is holding talks with the Amiblu Technology AS research team to discuss next

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5 Sep 2018 13:28

Haydale Graphene Promotes Keith Broadbent As Chief Operating Officer

LONDON (Alliance News) - Haydale Graphene Industries PLC said Wednesday it promoted Keith Broadbent as Chief Operating Officer with immediate effect."Broadbent has been the managing of

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7 Aug 2018 14:52

Quilter Builds 5.3% Holding In Haydale Graphene Industries (ALLISS)

LONDON (Alliance News) - Haydale Graphene Industries PLC said Tuesday Quilter PLC now has a 5.32% stake in the company.Quilter's holding in Haydale Graphene prior to Monday's was an

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13 Jun 2018 12:13

Haydale Graphene Warns On Annual Outcome, CEO To Take On New Role

LONDON (Alliance News) - Haydale Graphene Industries PLC on Wednesday said its financial year results will be below expectations with annual loss broadly flat year-on-year.Shares in Haydale

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13 Jun 2018 10:58

WINNERS & LOSERS SUMMARY: Just Eat Drops As Deliveroo Plans Expansion

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - up 2.3%. The miner reported that subsidiary a

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3 Feb 2017 13:27

Haydale and Everpower to collaborate in China

(ShareCast News) - Global nanomaterials group Haydale Graphene announced on Friday that itself and Everpower International Holdings, a New York-based investment company engaged in investing in "leading edge technologies" and integration into China, have agreed to enter into a collaboration agreement

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11 Oct 2016 09:12

Haydale completes fundraising with oversubscribed open offer

(ShareCast News) - Haydale Graphene Industries announced on Tuesday that it has raised gross proceeds of £0.5m in the open offer announced on 23 September, which was heavily oversubscribed. The AIM-traded firm said its total fundraising exercise raised approximately £2.6m, comprising £2m from the pl

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23 Sep 2016 10:23

UPDATE: Haydale Raises GBP2 Million To Help Buy US Firm ACMC (ALLISS)

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23 Sep 2016 08:57

Haydale Graphene's income rises as company transitions

(ShareCast News) - Haydale Graphene Industries, which develops technology to commercialise nanomaterials, reported a rise in income as it converts its research and product development into sales. For the year ended 30 June, income rose 30% year-on-year to £1.92m. Adjusted earnings before interest,

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26 Aug 2016 17:48

Directors dealings: Hikma's Said Darwazah buys £4.32m of shares

(ShareCast News) - Hikma Pharmaceuticals chairman and chief executive Said Darwazah has splashed on £4.32m worth of the firm's shares, just a day after they dived on comments from US presidential hopeful Hillary Clinton. Darwazah, whose father founded the company, paid 2160p a share, snaffling 200,0

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8 Aug 2016 15:06

Haydale funds new professional chair in Swansea

(ShareCast News) - Graphene and nanomaterials commercialisation company Haydale Graphene Industries announced on Monday that its wholly-owned subsidiary Haydale Limited has funded a new professorial chair appointment within Swansea University's Welsh Centre for Printing and Coating. The AIM-traded f

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8 Aug 2016 07:41

Haydale Graphene Sponsors New Chair Of Welsh Research Centre

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26 May 2016 08:12

Haydale Graphene Inks Joint Development Deal With Flowtite Technology

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