Last checked at 31 Aug 2017 14:00
POWERHOUSE ENERGY GROUP PLC - Issue of EquityPOWERHOUSE ENERGY GROUP PLC - Issue of Equity
PR Newswire
London, August 31
PowerHouse Energy Group plc
(“PowerHouse” or the “Company”)
Issue of Equity
The Company announces the issue of 13,263,158 ordinary shares of 0.5p each in the Company ("Ordinary Shares") to service providers for settlement of fees, of which 8,000,000 are being issued at 1p per Ordinary Share and 5,263,158 are being issued at 0.76p per Ordinary Share in accordance with the terms of the relevant service agreements.
Application is being made for the admission of 13,263,158 new Ordinary Shares to trading on AIM and it is expected that this will occur on or around 6 September 2017. These shares will rank pari passu in all respects with the Company's existing issued Ordinary Shares.
Subsequent to the issue of the New Ordinary Shares, the Company will have 1,136,872,014 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
| Keith Allaun, Executive Chairman | Tel: +44 (0) 203 368 6399 |
| WH Ireland Limited (Nominated Adviser) | |
| James Joyce / James Bavister | Tel: +44 (0) 207 220 1666 |
| Turner Pope Investments Ltd (Joint Broker) | |
| Ben Turner / James Pope | Tel: +44 (0) 203 621 4120 |
| Smaller Company Capital Limited (Joint Broker) | |
| Jeremy Woodgate | Tel: +44 (0) 203 651 2910 |
| Allerton Communications (Media Relations) | |
| Peter Curtain | Tel: +44 (0) 203 137 2500 |
| peter.curtain@allertoncomms.co.uk |
About PowerHouse Energy
PowerHouse Energy Group plc is the developer of the G3-UHt Ultra High Temperature Gasification Waste-to-Energy unit, and the creator of Distributed Modular Gasification© which allows for the elimination of waste, the generation of distributed electricity, and the production of distributed hydrogen.
The Company is focused on technologies to enable projects for energy recovery from municipal and industrial waste streams that would otherwise be directed to landfills and incinerators; or from renewable and alternative fuels such as biomass, tyres, and plastics to create syngas for power generation, or high-quality hydrogen for transportation.
Distributed Modular Gasification© allows for easy, economical, deployment and scaling of an environmentally sound solution to the growing challenges of waste elimination, electricity demand, and distributed hydrogen production.
Distributed Modular Gasification and DMG are copyrights of PowerHouse Energy Group plc.
PowerHouse is quoted on the London Stock Exchange's AIM Market. The Company is incorporated in the United Kingdom.
For more information see www.powerhouseenenergy.net. PowerHouse may also be followed on Vox Markets at www.voxmarkets.co.uk/company/PHE.