Issue of Equity

24th Oct 2012 08:28

24 October 2012 PowerHouse Energy Group plc (the "Company" or "PowerHouse") Issue of equity

The Company announces that in connection with a compromise agreement signed with Mark Johnson, formerly the Finance Director of the Company, the Company has issued to him 1,500,000 ordinary shares in the Company. As Mark Johnson was a director of the Company within the last year, the issue of the shares is deemed to be a related party transaction under the AIM Rules. The Directors, having consulted with Merchant Securities Limited, consider the terms of the compromise agreement to be fair and reasonable insofar as the shareholders of the Company are concerned.

Application has been made for the 1,500,000 new ordinary shares to be admitted to trading on AIM. Admission of such shares is expected to become effective and dealings are expected to commence on AIM on 30 October 2012.

Following the issue of these shares, the Company will have 286,534,426 ordinary shares in issue.

For additional information please contact:

PowerHouseEnergy Group plcKeith Allaun+44 (0) 20 7079 4402

Merchant Securities Limited (NOMAD and Broker)

David Worlidge

+44 (0) 20 7628 2200

XLON

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Related Shares:

Powerhouse Ener