Last checked at 30 Aug 2011 15:42
30 August 2011
PowerHouse Energy Group plc
("the Company")
Disclosure of dealings
In the Admission document published by the Company on 31 March 2011, it was stated that following Admission EnviroEnergy Resources Limited ("ERL"), the Company's major shareholder, intended to distribute its entire holding in the Company to its shareholders.
In addition, ERL undertook to the Company and Merchant Securities Limited ("Merchant Securities"), the Company's nominated adviser and broker, that for a period of 12 months after Admission it would not dispose of any ordinary shares in the Company without the consent of Merchant Securities, such consent not to be unreasonably withheld or delayed ("the Undertaking").
As announced on 18 August 2011, ERL is currently conducting the process of distributing its shareholding in PowerHouse to its shareholders.
The Company has been advised that it has transferred a further 52,843,484 Ordinary Shares to certain of its shareholders and that following such transfers ERL now holds 60,713,928 Ordinary Shares, representing 21.36 per cent. of the issued share capital of the Company.
The ERL shareholders who have had shares transferred to them have all signed a Deed of Adherence to comply with the Undertaking and must obtain the approval of Merchant Securities for any future transfers until 29 June 2012.
For additional information please contact:
PowerHouse Energy Group plc
Ross Lyndon-James+44 (0) 20 7887 1362
Merchant Securities Limited (NOMAD and Broker)
David Worlidge/Simon Clements
+44 (0) 20 7628 2200
Paterson Securities Limited (Australian Broker)
Emmanuel Duvnjak
+61 (0) 412 734 200
Pelham Bell Pottinger
Nick Lambert / Jenny Renton
+44 (0) 20 7861 3232
Notes to Editors:
·; PowerHouse Energy Group plc is a leading provider of economically proven, on-site, clean energy systems that use traditional and renewable forms of fuel to generate electric and thermal energy in an environmentally responsible way
·; PowerHouse offers a complete turnkey waste/biomass to energy equipment solution either by: direct sale or energy supply under long term power purchase agreements
·; PowerHouse's shares trade on the Alternative Investment Market under the ticker (PHE)