PowerHouse Energy
Group plc
("PowerHouse" or the "Company")
Issue of
Equity
PowerHouse Energy Group plc (AIM:
PHE), the UK technology company commercialising hydrogen production
from waste plastic, announces that the Company is issuing a total
of 57,728,139 ordinary shares of 0.5p each in the Company
(“Ordinary Shares”) further to the exercise of warrants at 0.5p per
Ordinary Share and to various service providers for the settlement
of fees.
5,500,000 Ordinary Shares are being
issued further to the exercise of warrants at 0.5p per Ordinary
Share. 47,732,518 Ordinary Shares are being issued at 0.5p and
4,495,621 Ordinary Shares are being issued at 0.717p to various
service providers based on the average closing price for the
relevant periods as set out the in agreements with the relevant
parties.
Application has been made for the
admission of 57,728,139 Ordinary Shares to trading on AIM
(“Admission”) and it is expected that this will occur on or around
29 January 2020. These shares will
rank pari passu in all respects with the Company's existing issued
Ordinary Shares.
Subsequent to the issue of Ordinary
Shares, the Company will have 2,019,516,564 Ordinary Shares in
issue. PowerHouse has no shares in Treasury, therefore this figure
may be used by Shareholders, from Admission, as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure and
Transparency Rules.
For more information, contact:
PowerHouse Energy Group
plc |
Tel: +44 (0) 203 368 6399 |
David Ryan, Chief Executive
Officer |
|
|
|
WH Ireland Limited (Nominated
Adviser) |
Tel: +44 (0) 207 220 1666 |
James Joyce / Chris Savidge |
|
|
|
Turner Pope Investments Ltd
(Joint Broker) |
Tel: +44 (0) 203 657 0050 |
Andrew Thacker / Zoe Alexander |
|
|
|
Ikon Associates(Media
enquiries) |
Tel: +44 (0) 1483 271291 |
Adrian Shaw |
Mob: +44 (0) 7979 900733 |
About PowerHouse Energy Group plc
PowerHouse has developed a
proprietary process technology - DMG® - which can utilise waste
plastic, end-of-life-tyres, and other waste streams to efficiently
and economically convert them into syngas from which valuable
products such as chemical precursors, hydrogen, electricity and
other industrial products may be derived. The PowerHouse technology
is one of the world’s first proven, modular, hydrogen from waste
(HfW) process.
The PowerHouse DMG® process can
generate up to 2 tonnes of road-fuel quality H2, and more than
58MW/h of exportable electricity per day.
The PowerHouse process produces low
levels of safe residues and requires a small operating footprint,
making it suitable for deployment at enterprise and community
level.
PowerHouse is quoted on the London
Stock Exchange's AIM Market under the ticker: PHE, and is
incorporated in the United Kingdom.
For more information see www.powerhouseenergy.net