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 37,736,252 ordinary shares of 0.5p each in the Company (“Ordinary Shares”) to various service providers for the settlement of fees at 0.5p per Ordinary Share.
Application has been made for the admission of 37,736,252 Ordinary Shares to trading on AIM (“Admission”) and it is expected that this will occur on or around 20 November 2019. 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 1,961,788,425 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 Adviser)||Tel: +44 (0) 207 220 1666|
|James Joyce / Chris Savidge|
|Turner Pope Investments Ltd (Joint Broker)||Tel: +44 (0) 203 621 4120|
|Ben Turner / James Pope|
|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® (Distributed Modular Generation) - 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. The PowerHouse technology is one of the world’s first proven, modular, hydrogen from waste processes.
The PowerHouse DMG® process can generate in excess of 1 tonne of road-fuel quality hydrogen, and more than 81MWh 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