15th Oct 2018 16:20
POWERHOUSE ENERGY GROUP PLC - Issue of EquityPOWERHOUSE ENERGY GROUP PLC - Issue of Equity
PR Newswire
London, October 15
PowerHouse Energy Group plc
("PowerHouse" or the "Company")
Issue of equity
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 12,000,000 ordinary shares of 0.5p each in the Company (“Ordinary Shares”) to a service provider for the settlement of fees. The Ordinary Shares are being issued at 0.5p in accordance with the terms of the service agreement.
Application has been made for the admission of 12,000,000 Ordinary Shares to trading on AIM and it is expected that this will occur on or around 19 October 2018. 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 1,699,764,954 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 Keith Allaun, Chief Executive Officer | Tel: +44 (0) 203 368 6399 |
| WH Ireland Limited (Nominated Adviser James Joyce / Chris Viggor | Tel: +44 (0) 207 220 1666 |
| Turner Pope Investments Ltd (Joint Broker) Ben Turner / James Pope | Tel: +44 (0) 203 621 4120 |
| Ikon Associates(Media enquiries Adrian Shaw | Tel: +44 (0) 1483 271291 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
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