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POWERHOUSE ENERGY GROUP PLC - Result of AGM

·3-min read

30 September 2020

Powerhouse Energy Group plc
("Powerhouse" or the "Company")

Result of AGM

Powerhouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic, announces that at the Annual General Meeting of the Company held today, all resolutions put to shareholders were duly passed.

The results of the votes are set out below:

FOR*

AGAINST

RESOLUTIONS

Votes

% of votes cast

Votes

% of votes cast

Abstain

Ordinary Resolution 1

1,429,943,616

99.98%

300,000

0.02%

412,543

To receive the financial statements for the year ended 31 December 2019 together with Directors' Reports and the Auditors' Report

Ordinary Resolution 2

1,429,340,872

99.94%

828,675

0.06%

486,612

To approve the Remuneration Report

Ordinary Resolution 3

1,429,891,960

99.97%

499,922

0.03%

264,277

To reappoint Jeffreys Henry LLP as audit and authorise the directors to fix their remuneration

Ordinary Resolution 4

1,323,926,230

97.94%

27,903,121

2.06%

78,826,808

To re-elect Dr Cameron Davies as a director of the Company

Ordinary Resolution 5

1,342,651,569

99.24%

10,298,680

0.76%

77,705,910

To re-elect James Greenstreet as a director of the Company

Ordinary Resolution 6
To re-appoint Myles Kitcher as a director of the Company

1,429,859,351

99.98

270,000

0.02%

526,808

Ordinary Resolution 7
To re-appoint Timothy Yeo as a director of the Company

1,417,992,013

99.20%

11,419,964

0.80%

1,244,182

Ordinary Resolution 6
To re-appoint Allan Vlah as a director of the Company

1,429,835,631

99.98%

297,720

0.02%

522,808

Ordinary Resolution 9
To authorise the directors to allot and issue equity securities

1,376,905,380

99.94%

877,630

0.06%

52,873,149

Special Resolution 10
To authorise the directors to dis-apply pre-emption rights, as set out in the notice of meeting

1,185,373,542

86.03%

192,409,468

13.97%

52,873,149

*Votes received for the resolutions includes votes allowing the Chairman's discretion.

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 / Lydia Zychowska

Turner Pope Investments Ltd (Joint Broker)

Tel: +44 (0) 203 657 0050

Andrew Thacker / Zoe Alexander

Ikon Associates (Media enquiries)

Tel: +44 (0) 1483 271291

Adrian Shaw

Mob: +44 (0) 7979 900733

Notes for 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.net