Powerhouse Ener Regulatory News (PHE)

POWERHOUSE ENERGY GROUP PLC - Issue of Equity and Director/PDMR Shareholding

PR Newswire

London, June 28

PowerHouse Energy Group plc("PowerHouse" or the "Company")

28th June 2019

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 33,040,000 ordinary shares of 0.5p each in the Company (“Ordinary Shares”) to various service providers for the settlement of fees at 0.5p per Ordinary Share. Included with the share payments are a payment to Waste2Tricity. The agreement conditions under which Waste2tricity is acting entitles PHE to a reimbursement of the cost out of any profits earned by Waste2tricity from project development activities.

In addition, the Company is issuing 3,266,667 Ordinary Shares in lieu of fees to its Chief Executive Officer, David Ryan, at a price of 0.6p per share and 2,175,000 Ordinary Shares to Christopher Vanezis, Chief Financial Officer, at 0.5p per share. Following this issue of Ordinary Shares, David Ryan will hold 11,075,000 Ordinary Shares and Christopher Vanezis will hold 5,358,750 Ordinary Shares in the Company, which represents 0.58% and 0.28% 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 38,481,667 Ordinary Shares to trading on AIM (“Admission”) and it is expected that this will occur on or around 4th July 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 1,924,052,173 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.

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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 syngas 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 58MW/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

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM