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.
For more information, contact:
PowerHouse Energy Group
plc |
Tel: +44 (0) 203 368 6399 |
David Ryan, Chief Executive
Officer |
|
|
|
WH Ireland Limited (Nominated
Adviser) |
Tel: +44 (0) 207 220 1666 |
James Joyce / Chris Savidge |
|
|
|
Turner Pope Investments Ltd
(Joint Broker) |
Tel: +44 (0) 203 621 4120 |
Ben Turner / James Pope |
|
|
|
Ikon Associates(Media
enquiries) |
Tel: +44 (0) 1483 271291 |
Adrian 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
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
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) |
Price(s) |
Volume(s) |
0.6p |
3,266,667 |
|
d) |
Aggregated
information
- Aggregated volume
- Price |
3,266,667 ordinary shares
£19,600 |
e) |
Date of the transaction |
27 June 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 |
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) |
Price(s) |
Volume(s) |
0.5p |
2,175,000 |
|
d) |
Aggregated
information
- Aggregated volume
- Price |
2,175,000 ordinary shares
£10,875 |
e) |
Date of the transaction |
27 June 2019 |
f) |
Place of the transaction |
London |