Powerhouse Energy Group
plc
("Powerhouse" or the "Company")
19 July
2021
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 8,000,000 ordinary shares of 0.5p each in the Company
(“Ordinary Shares”) further to the exercise of options at 0.6p per
Ordinary Share.
Application has been made for the
admission of 8,000,000 Ordinary Shares to trading on AIM
(“Admission”) and it is expected that this will occur on or around
22 July 2021. 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 3,929,914,135 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.
-ENDS-
For more information,
contact:
Powerhouse Energy Group
plc |
Tel: +44 (0) 203 368 6399 |
Tim Yeo, Executive
Chairman |
|
|
|
WH Ireland Limited (Nominated
Adviser) |
Tel: +44 (0) 207 220 1666 |
James Joyce/ Lydia Zychowska |
|
|
|
Turner Pope Investments
(TPI) Ltd (Joint Broker) |
Tel: +44 (0) 203 657 0050 |
Andrew Thacker |
|
|
|
SisterSmith PR
(media enquiries)
Becca Smith |
Mob: +44 (0) 7766522305 |
Notes to Editors:
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. Powerhouse’s technology
is one of the world's first proven, distributed, modular, hydrogen
from waste (HfW) process.
The Powerhouse DMG® process can
generate up to 2 tonnes of road-fuel quality hydrogen and more than
58MWh of exportable electricity per day.
Powerhouse’s process produces low
levels of safe residues and requires a small operating footprint,
making it suitable for deployment at enterprise and community
level. As announced on 11th February
2020 under its Supplemental Agreement with Peel
Environmental, Powerhouse will receive an annual license fee of
£500,000 in respect of each project which is commissioned.
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.co.uk