Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHaydale Regulatory News (HAYD)

Share Price Information for Haydale (HAYD)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.455
Bid: 0.45
Ask: 0.46
Change: 0.00 (0.00%)
Spread: 0.01 (2.222%)
Open: 0.455
High: 0.455
Low: 0.455
Prev. Close: 0.455
HAYD Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Trading update & Notice of results

3 Feb 2017 07:00

RNS Number : 9344V
Haydale Graphene Industries PLC
03 February 2017
 

The 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.

 

For immediate release

3 February 2017

 

 

Haydale Graphene Industries plc

('Haydale' or the 'Group')

 

Trading update

Notice of results

 

Haydale (AIM:HAYD), the global nanomaterials group, announces the following update on trading for the six months ended 31 December 2016 as well as the prospects of the Group. The Board also announces the anticipated date of announcement of the Company's results for the 6 months ending 31 December 2016.

 

Trading update

As previously announced in the AGM Statement issued on 15 December 2016, the customer sampling process with Huntsman Corporation ("Huntsman") for graphene infused Araldite® epoxy resin has taken longer than the Group originally anticipated and, as a result of this, commercial revenues from this agreement are now expected to commence in the first half of the next financial year. In addition, Haydale made a strategic decision to focus on sourcing and securing key collaboration partners at the expense of short term revenue from the sale of reactors to third parties, leading the Board to believe that Group revenue for the current financial year will be below market expectations.

 

Since the beginning of the current financial year, the Group has secured contracts to develop a number of next generation commercial products worth in excess of £0.6 million over the next 12-18 months. These include: hydrogen storage vessels for Arcola Energy, a leading UK fuel cell system integrator; a novel water filter for the nuclear industry with Sellafield Limited as the commercial partner; a research and development agreement with the Malaysian Government developing a series of enhanced natural rubber products into graphene composite, which are aimed at next stage industrial products; an initial contract secured by Haydale Composite Solutions to design, manufacture and test certain pipes for a leading composite pipes manufacturer (utilising Haydale's unique pipe testing facilities recently commissioned in Loughborough). The work is the first phase of a significant development contract to certify composite pipes for the oil and gas industry; the UK Space Agency has contracted Haydale to develop advanced composite gas propellant storage tanks for spacecraft and satellites: and Wave Energy Scotland has contracted Haydale to develop a new rotational moulding, graphene enhanced thermoplastic material to be used in renewable wave energy devices.

 

In addition, the Group has appointed a sales manager to market and sell Haydale's graphene enhanced 3D PLA filament, which was launched in Q4 2016. Repeat orders, albeit at a relatively small amount at this early stage, have been received from international distributers and the Group is in the process of agreeing multiple distribution agreements. The feedback from distributers and end users has been encouraging with reference to enhancements in flow speed and post production processing. Other 3D printing developments are under evaluation for future product launches.

 

As previously announced, the Group's ongoing project with Flowtite on developing a graphene enhanced glass fibre reinforced pipe ("GRP") remains on track with the first production trials set for Q1 2017. A period of testing and certification of up to twelve months will then follow the production trials such that, if successful, Flowtite expects to launch their new graphene enhanced GRP in the second half of the next financial year.

 

The Group has now commissioned the two plasma reactors sold to Graphit Kropfmühl GmbH, as part of its strategic collaboration and industrial scale-up plans to accommodate masterbatch products required initially for Huntsman and Flowtite. The Group remains on course to install an HT60 plasma reactor into the Thailand Science Park and expects this unit to be fully operational by the end of March 2017. Once operational, it will service Thai customers and projects plus other Far East countries such as Korea and Taiwan.

 

Haydale's USA operation has integrated well into the Group and its trading is in line with management's expectations. It has commenced researching the market ahead of establishing a graphene capability at its South Carolina facility. Early indications are that the addition of graphene to Silicon Carbide whiskers and fibres as a hybrid material offers improvements in structural properties and thermal conductivity. As mentioned above, the Group plans to target new applications in the automotive industry.

 

Ray Gibbs, CEO of Haydale, said: "Whilst the slower than originally anticipated development towards commercial sales affects our short-term revenues, continued development of the next generation commercial products provides us with significant confidence for the longer-term success of the Group. Haydale is working with some leading businesses around the world, and we are setting the foundations in place for the Group to realise its potential as a global commercial entity.

 

We have learnt much from the collaboration with Huntsman, including novel unique dispersion know how that can be used in many other applications. What has become clear is that Huntsman have a desire to make sure that a product launch, especially of one of their major brands is done right first time. The positivity flowing from the technical evaluations, exhaustive testing and compliance rigour will stand us in great stead when dealing with other world class organisations. The markets that Haydale's next generation enhanced products are aimed at are significant, world-wide markets and therefore a degree of patience needs to be taken to ensure consistency of supply of the highest quality in meeting customer expectations."

 

Notice of results

The Group will announce its interim results for the six months ended 31 December 2016 on Wednesday, 22 March 2017. An analyst briefing will be held at 09:30 a.m. at the offices of Buchanan, 107 Cheapside, London EC2V 6DN.

 

 

 

For further information:

Haydale Graphene Industries plc

 

Ray Gibbs, Chief Executive Officer

Tel: +44 (0) 1269 842 946

Matt Wood, Finance Director

www.haydale.com

Trevor Phillips, Head of Communications

 

 

 

Cairn Financial Advisers LLP (Nominated Adviser)

 

Tony Rawlinson / Emma Earl

Tel: +44 (0) 20 7213 0880

 

 

Cantor Fitzgerald Europe (Broker)

 

David Foreman / Will Goode (Corporate Finance)

Tel: +44 (0) 20 7894 7000

David Banks / Mark Westcott (Sales)

 

Media enquiries:

Buchanan

 

Henry Harrison-Topham / Jamie Hooper

Tel: +44 (0) 20 7466 5000

haydale@buchanan.uk.com

www.buchanan.uk.com

 

Notes to Editors

Haydale has developed a patented scalable plasma process to functionalise graphene and other nanomaterials. This enabling technology can provide Haydale with a rapid and highly cost-efficient method of supplying tailored solutions to enhance applications for both raw material suppliers and product manufacturers.

 

Crucially, the Haydale plasma process does not damage the material being processed. Instead it will clean up any impurities inherent in the raw material. The technology is a low energy user and is therefore environmentally friendly. The Haydale process is a patented enabling technology, allowing the Group to work with a raw material producer who seeks to add value to the base product and tailor the outputs to best service the target applications of the end user.

 

Haydale has moved from being a R&D focused business towards becoming a commercial entity and having made some transformational acquisitions and partnerships in 2016, the Company has a robust supply chain, with geographic presence not only in European but in Asian and American markets.

 

 

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

 

A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Subject to any continuing obligations under applicable law or any relevant AIM Rule requirements, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCLFFSFFIIFIID
Date   Source Headline
12th Mar 20247:00 amRNSInterim Results
26th Jan 20247:00 amRNSGrant of Options & Surrender of Existing Options
22nd Jan 20247:00 amRNSHaydale selected for Innovate UK Scaleup Programme
7th Dec 202311:36 amRNSResult of AGM
7th Dec 202311:34 amRNSDirectorate Change
6th Dec 20237:00 amRNSHaydale awarded SMART funding
16th Nov 20232:31 pmRNSHolding(s) in Company
13th Nov 20237:00 amRNSPosting of Annual Report & Notice of AGM
1st Nov 20237:00 amRNSTotal Voting Rights
26th Oct 20237:00 amRNSFinal Results
9th Oct 20238:23 amRNSHolding(s) in Company
5th Oct 20231:43 pmRNSDirector/PDMR Shareholding & Total Voting Rights
4th Oct 20234:46 pmRNSHolding(s) in Company
3rd Oct 20233:48 pmRNSResult of General Meeting
2nd Oct 20237:00 amRNSTotal Voting Rights
22nd Sep 20234:30 pmRNSResult of Retail Offer and Total Voting Rights
15th Sep 20236:12 pmRNSResult of Fundraising
15th Sep 20234:00 pmRNSLaunch of Retail Offer
15th Sep 20233:00 pmRNSProposed Placing, Subscription & Retail Offer
15th Sep 20237:00 amRNSWarrant Expiry, Block Admission Cancellation & TVR
22nd Aug 20237:00 amRNSCollaboration with PETRONAS
4th Aug 20231:02 pmRNSHolding(s) in Company
2nd Aug 20237:00 amRNSDirectorate Change
24th Jul 20237:00 amRNSContract Award
13th Jul 20237:00 amRNSHaydale Delivers LPHW Prototype for Cadent
21st Jun 20237:00 amRNSTrading Update
5th Jun 20237:00 amRNSDirectorate Change
24th May 20237:00 amRNSHaydale to Contribute to the Development of FCHEVs
3rd May 20237:00 amRNSSMART Innovation to Accelerate Graphene Products
26th Apr 20233:06 pmRNSGrant of Share Options
12th Apr 20237:00 amRNSHaydale and Saint-Gobain Collaborate on hBN
16th Mar 20237:00 amRNSHaydale and City Energy Develop UFH with Plumbase
14th Mar 20238:15 amRNSBlock listing Interim Review
10th Mar 202311:05 amRNSSecond Price Monitoring Extn
10th Mar 202311:00 amRNSPrice Monitoring Extension
10th Mar 20237:00 amRNSDirectorate Change
1st Mar 20237:00 amRNSInterim Results
28th Feb 202311:38 amRNSHaydale and GEIC Proud to Partner for a Sixth Year
21st Feb 20237:00 amRNSRega Turns to Graphene to Improve Sound Quality
14th Feb 20237:00 amRNSInnovate UK Grant to Image 2D Materials Awarded
7th Feb 20237:00 amRNSHaydale Paddles Forward with Norse Kayaks
30th Jan 20237:00 amRNSNotice of Interim Results
26th Jan 20237:00 amRNSCeramycGuard™ on Trial with United Utilities
20th Dec 20227:00 amRNSGraphene-Enhanced Prepreg Extends Tool Life
1st Dec 20227:00 amRNSFinalist for Collaborate to Innovate Awards
30th Nov 20229:22 amRNSGrant of Warrants
29th Nov 20221:55 pmRNSResult of AGM
15th Nov 20227:00 amRNSGrant of share options and PDMR dealings
1st Nov 20227:00 amRNSDirectorate Change and Posting of Annual Report
6th Oct 20227:00 amRNSFinal Results

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.