Powerhouse Energy
Group plc
("Powerhouse" or
the "Company")
6 December
2021
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
7,000,000 ordinary shares of 0.5p each in the Company
(“Ordinary Shares”) further to the exercise of options at 0.6p per
Ordinary Share.
Application has been made for the admission
of 7,000,000 Ordinary Shares to trading on AIM
(“Admission”) and it is expected that this will occur on or around
9 December 2021. 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 3,957,414,135 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.
-ENDS-
For more information,
contact:
| Powerhouse Energy Group plc |
Tel: +44 (0) 203 368 6399 |
| James Greenstreet, Non-Executive
Chairman |
|
|
|
| WH Ireland Limited (Nominated Adviser) |
Tel: +44 (0) 207 220 1666 |
| James Joyce/ Megan Liddell |
|
|
|
| Turner Pope Investments
(TPI) Ltd (Joint Broker) |
Tel: +44 (0) 203 657 0050 |
| Andrew Thacker / James Pope |
|
|
|
SisterSmith PR (media enquiries)
Becca Smith |
Mob: +44 (0) 7766522305 |
Notes to 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 or 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.co.uk
