Last checked at 27 Mar 2019 07:00
POWERHOUSE ENERGY GROUP PLC - Issue of Equity and Director/PDMR ShareholdingPOWERHOUSE ENERGY GROUP PLC - Issue of Equity and Director/PDMR Shareholding
PR Newswire
London, March 26
PowerHouse Energy Group plc
("PowerHouse" or the "Company")
Issue of Equity and Director/PDMR Shareholding
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 26,145,552 ordinary shares of 0.5p each in the Company (“Ordinary Shares”) to various service providers for the settlement of fees. Of these new Ordinary Shares, 21,838,750 are being issued at 0.5p and 4,306,802 are being issued at 0.5015p in accordance with the terms of the relevant service agreements.
In addition, the Company is issuing 1,808,333 Ordinary Shares in lieu of fees to its Chief Executive Officer, David Ryan, at a price of 0.6p per share and 1,185,000 Ordinary Shares to Christopher Vanezis, Chief Financial Officer, at 0.5p per share. Following this issue of Ordinary Shares, David Ryan will hold 7,808,333 Ordinary Shares and Christopher Vanezis will hold 1,185,000 Ordinary Shares in the Company, which represents 0.41% and 0.06% respectively of the Company’s enlarged issued ordinary share capital and voting rights.
The issue of shares to David Ryan constitutes a related party transaction under the AIM Rules. The independent directors of the Company consider, having consulted with its nominated adviser, WH Ireland Limited, that the terms of the transaction are fair and reasonable insofar as shareholders are concerned.
Application has been made for the admission of 29,138,885 Ordinary Shares to trading on AIM (“Admission”) and it is expected that this will occur on or around 1 April 2019. 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 1,885,570,506 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 6399David Ryan, 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 Group plc
PowerHouse has developed a proprietary process technology - DMG® - which can utilise waste plastic, end-of-life-tyres, and other waste streams to efficiently and economically convert them into EcoSynthesis gas from which valuable products such as chemical precursors, hydrogen, electricity and other industrial products may be derived. The PowerHouse technology is one of the world’s first proven, modular, hydrogen from waste (HfW) process.
The PowerHouse DMG® process can generate in excess of 1 tonne of road-fuel quality H2, and more than 28MW/h of exportable electricity per day.
The PowerHouse process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.
PowerHouse is quoted on the London Stock Exchange's AIM Market under the ticker: PHE, and is incorporated in the United Kingdom.
For more information see www.powerhouseenergy.net
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | David Ryan | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/ Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | PowerHouse Energy Group plc | ||||
| b) | LEI | 213800MY7XIYS2BSC163 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 5p each GB00B4WQVY43 | ||||
| b) | Nature of the transaction | Share purchase | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | 1,808,333 ordinary shares £10,850 | ||||
| e) | Date of the transaction | 26 March 2019 | ||||
| f) | Place of the transaction | London | ||||
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Christopher Vanezis | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | PDMR | ||||
| b) | Initial notification/ Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | PowerHouse Energy Group plc | ||||
| b) | LEI | 213800MY7XIYS2BSC163 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 5p each GB00B4WQVY43 | ||||
| b) | Nature of the transaction | Share purchase | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | 1,185,000 ordinary shares £5,925 | ||||
| e) | Date of the transaction | 26 March 2019 | ||||
| f) | Place of the transaction | London | ||||