Powerhouse Enrgy Grp Issue of Equity
06 February 2021 - 1:08AM
UK Regulatory
TIDMPHE
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 6,000,000 ordinary shares of 0.5p each in the Company
("Ordinary Shares") further to the exercise of options at 0.6p per Ordinary
Share.
Application has been made for the admission of 6,000,000 Ordinary Shares to
trading on AIM ("Admission") and it is expected that this will occur on or
around 9 February 2021. 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 3,907,814,135
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
Tim Yeo, Executive Chairman
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 207 220
1666
James Joyce/ Lydia Zychowska
Turner Pope Investments Ltd (Joint Tel: +44 (0) 203 657
Broker) 0050
Andrew Thacker
SisterSmith PR (media enquiries)
Becca Smith Mob: +44 (0) 7766522305
Notes for editors:
About Powerhouse Energy Group plc
Powerhouse, the sustainable hydrogen company, 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. Powerhouse's
technology is one of the world's first proven, distributed, modular, hydrogen
from waste (HfW) process.
The Powerhouse DMG® process can generate up to 2 tonnes of road-fuel quality
hydrogen and more than 58MWh of exportable electricity per day.
Powerhouse's process produces low levels of safe residues and requires a small
operating footprint, making it suitable for deployment at enterprise and
community level. As announced on 11th February 2020 under its Supplemental
Agreement with Peel Environmental, Powerhouse will receive an annual license
fee of GBP500,000 in respect of each project which is commissioned.
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
END
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