Powerhouse Enrgy Grp Issue of Equity
07 Julio 2020 - 08:05AM
UK Regulatory
TIDMPHE
Powerhouse Energy Group plc
("Powerhouse" or the "Company")
Issue of Equity
Powerhouse Energy Group plc (AIM: PHE), the UK technology company
commercialising hydrogen production from waste plastic, announces that the
Company is issuing 5,300,000 ordinary shares of 0.5p each in the Company
("Ordinary Shares") further to the exercise of warrants at 0.5p per Ordinary
Share.
Application has been made for the admission of 5,300,000 Ordinary Shares to
trading on AIM ("Admission") and it is expected that this will occur on or
around 10 July 2020. 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 2,077,660,416
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 Tel: +44 (0) 207 220
Adviser) 1666
James Joyce / Lydia Zychowska
Turner Pope Investments Ltd (Joint Tel: +44 (0) 203 657
Broker) 0050
Andrew Thacker / Zoe Alexander
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, unrecycleable plastic, end-of-life-tyres, and other waste
streams to efficiently and economically convert them into syngas from which
valuable products such as hydrogen, chemical precursors, 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 up to 2 tonnes of road-fuel quality
H2, and more than 58MWh 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
END
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