Last checked at 8 Aug 2018 11:10
POWERHOUSE ENERGY GROUP PLC - Issue of EquityPOWERHOUSE ENERGY GROUP PLC - Issue of Equity
PR Newswire
London, August 8
PowerHouse Energy Group plc
("PowerHouse" or the "Company")
Issue of equity
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and used tyres, announces that the Company is issuing 12,504,924 ordinary shares of 0.5p each in the Company (“Ordinary Shares”) to service providers for the settlement of fees. 11,707,317 of these Ordinary Shares are being issued at 0.5125p and 797,607 Ordinary Shares are being issued at 0.5015p in accordance with the terms of the relevant service agreements.
Application has been made for the admission of 12,504,924 Ordinary Shares to trading on AIM and it is expected that this will occur on or around 14 August 2018. 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 1,681,764,954 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 6399Keith Allaun, Chief Executive Officer
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 207 220 1666James Joyce / Chris Viggor
Turner Pope Investments Ltd (Joint Broker) Tel: +44 (0) 203 621 4120Ben Turner / James Pope
Ikon Associates(Media enquiries) Tel: +44 (0) 1483 271291Adrian Shaw Mob: +44 (0) 7979 900733
About PowerHouse Energy
PowerHouse Energy Group plc is the developer of DMG©, the distributed, modular, thermal conversion system which allows for the distributed eradication of waste, the generation of distributed electricity, and the production of distributed hydrogen with the world's first small, modular, hydrogen from waste process (HfW).
The Company is focused on technologies to enable efficient 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 for power generation, or the production of high-quality hydrogen as a fuel for transport. DMG© allows for easy, economical, deployment and scaling of an environmentally sound solution to the growing challenges of waste eradication, landfill diversion, electrical demand, and distributed hydrogen production.
The PowerHouse DMG© process can generate in excess of 1 tonne of road-fuel quality H2, and in excess of 28MW/h of exportable electricity per day.
The PHE process produces very low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community levels.
PowerHouse is quoted on the London Stock Exchange's AIM Market. The Company is incorporated in the United Kingdom.
For more information see www.powerhouseenergy.net