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Haydale Graphene Industries plc announced on March 7, 2025, that on March 6, 2025, the Georgia Court approved a motion setting the process and timetable for a public auction of its wholly owned subsidiary, Haydale Ceramic Technologies LLC's (HCT) business and assets, following HCT's placement into a Chapter 11 insolvency process. Initial bids for the auction are due by April 7, 2025, at 5:00 pm local time, with the auction anticipated on April 15, 2025, and a final sales hearing on April 16, 2025.
| Date | 7 Mar 2025 |
| Time | 10:18:47 |
| Category | Corporate updates |
| ID | 8263Z |
Haydale Graphene Industries plc
('Haydale' or the 'Group')
Haydale US sales process update
Ammanford, 7 March 2025 - Haydale (AIM: HAYD), the advanced materials group, announces that, further to the Group's announcement of 10 February 2025 regarding filings in court in the state of Georgia (the "Court") to place its wholly owned subsidiary, Haydale Ceramic Technologies LLC, ("HCT") into a corporate insolvency process under Chapter 11 subchapter V of the United States ("US") Bankruptcy Code, on 6 March 2025 the Court approved a motion setting out, amongst other things, the process and timetable for a public auction of the business and assets of HCT. Initial bids and deposits are invited in accordance with the process up to 5.00 pm local time in Atlanta, Georgia on 7 April 2025. The auction is then expected to be held on 15 April 2025 with a final sales hearing (providing Court approval of the prevailing bid) expected on 16 April 2025. Enquiries from parties interested in participating should be addressed to [email protected] or [email protected].
Further announcements will be made at the appropriate time.
For further information:
Haydale Graphene Industries plc
Simon Turek, Chief Executive Officer Tel: +44 (0) 1269 842946
Gareth Kaminski-Cook, Non-Executive Chair
Patrick Carter, Chief Financial Officer
Cavendish Capital Markets Limited (Nominated Adviser & Broker)
Julian Blunt / Edward Whiley / Trisyia Jamaludin, Corporate Finance Tel: +44 (0) 20 7220 0500
Andrew Burdis, ECM