!4 May RNS,16 May 2026 08:23
14 May 2026
Powerhouse Energy Group plc
("Powerhouse" or the "Company")
Result of General Meeting and TVR
Powerhouse Energy Group plc (AIM: PHE), a UK company pioneering integrated technology that converts non-recyclable waste into low carbon energy, alongside its revenue generating engineering consulting subsidiary ("Engsolve"), announces that all of the Resolutions at the General Meeting earlier today were duly passed by way of a poll. Resolutions 1 and 2 were passed as ordinary resolutions and Resolution 3 was passed as a special resolution. The voting results are set out below.
Completion of the Placing and Retail Offer
As a result of the Resolutions being passed, the Placing of 200,000,000 Placing Shares to raise gross proceeds of £400,000 for the Company (before fees and expenses), has now completed, subject to Admission of the Placing Shares to trading on AIM.
In addition, the Retail Offer of 125,000,000 Retail Offer Shares to raise gross proceeds of £250,000 for the Company (before fees and expenses), has now completed, subject to Admission of the Retail Offer Shares to trading on AIM.
As previously announced, the net funds raised from the Placing and the Retail Offer provides the Company with a cash runway to undertake planned activities well into Q1 2027.
Completion of the Capital Reorganisation
As set out in the Circular and following the passing of the Resolutions, the Capital Reorganisation will take effect to facilitate the issuance and Admission of the New Ordinary Shares to be issued pursuant to the Placing and Retail Offer. Under the Capital Reorganisation, each Existing Ordinary Share of 0.5 pence nominal value will be subdivided and reclassified into one New Ordinary Share of 0.01 pence and one New Deferred Share of 0.49 pence each.
Admission and Total Voting Rights.
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