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POWERHOUSE ENERGY GROUP PLC - Dealing by PDMR

·3-min read

Powerhouse Energy Group plc

("Powerhouse" or the "Company")

29 December 2020

Dealing by PDMR

Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from waste plastic, announces that Chris Vanezis, Chief Financial Officer and a PDMR of the Company, who received some of his fees for services provided between 2018 and 2020 in Ordinary Shares in lieu of cash, sold 4,103,688 ordinary shares of 0.5p each in the Company (“Ordinary Shares”).

Further to these transactions, Mr Vanezis holds 26,372,990 Ordinary Shares, which represents 0.71% of the Company’s issued ordinary share capital.

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

Chris Vanezis

2

Reason for the notification

a)

Position/status

PDMR

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 0.5p each



GB00B4WQVY43

b)

Nature of the transaction

Share sale

c)

Price(s) and volume(s)

Price(s)

Volume(s)

6.73p

4,103,688

Price(s)

Volume(s)

6.73p

4,103,688

d)

Aggregated information
- Aggregated volume
- Price


4,103,688 ordinary shares
£276,191.50

e)

Date of the transaction

23-24 December 2020

f)

Place of the transaction

London Stock Exchange

-ENDS-

For more information, contact:

Powerhouse Energy Group plc
Tim Yeo, Executive Chairman

Tel: +44 (0) 203 368 6399

WH Ireland Limited (Nominated Adviser)
James Joyce/Lydia Zychowska

Tel: +44 (0) 207 220 1666

Turner Pope Investments Ltd (Joint Broker)
Andrew Thacker/Zoe Alexander

Tel: +44 (0) 203 657 0050

SistersmithPR (Media enquiries)
Becca Smith

Mob: +447766 522305


Notes for editors:

About Powerhouse Energy Group plc

Powerhouse, the sustainable hydrogen company, 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 GBP500,000 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.