Last checked at 31 Jan 2012 08:20
30 January 2012
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 at that time, 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").
Further to the announcement issued on 18 August 2011, the Company has been advised that it has transferred 112,628,753 Ordinary Shares to certain of its shareholders and that following such transfers ERL now holds 928,659 Ordinary Shares, representing 0.33 per cent. of the issued share capital of the Company.
All of the persons to whom ERL transferred shares signed a Deed of Adherence to comply with ERL's Undertaking and ERL obtained the approval of Merchant Securities for such transfers.
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
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 historical co-gen customer base has included Fortune 500 companies as well as government authorities (US)
·; PowerHouse's shares trade on the Alternative Investment Market under the ticker (PHE)