POWERHOUSE ENERGY GROUP PLC - Issue of Equity
Issue of Equity
(AIM: PHE), the technology company commercialising hydrogen production from waste plastic, announces that the Company is issuing 25,440,350 ordinary shares of 0.5p each in the Company (“Ordinary Shares”) further to the exercise of warrants at 0.5p per Ordinary Share.
Application has been made for the admission of 25,440,350 Ordinary Shares to trading on AIM (“Admission”) and it is expected that this will occur on or around . 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 2,044,956,914 Ordinary Shares in issue. PowerHouse has no shares in , 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 Disclosure and Transparency Rules.
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PowerHouse has developed a proprietary process technology - DMG® - which can utilise waste, unrecycleable plastic, end-of-life-tyres, and other waste streams to efficiently and economically convert them into syngas from which valuable products such as hydrogen, chemical precursors, electricity and other industrial products may be derived. The PowerHouse technology is one of the world’s first proven, modular, hydrogen from waste (HfW) process.
The PowerHouse DMG® process can generate up to 2 tonnes of road-fuel quality H2, and more than 58MWh 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 AIM Market under the ticker: PHE, and is incorporated in the .
For more information seewww.powerhouseenergy.net
Tel: +44 (0) 203 368 6399 , Chief Executive Officer (Nominated Adviser) Tel: +44 (0) 207 220 1666 / Lydia Zychowska (Joint Broker) Tel: +44 (0) 203 657 0050 / (Media enquiries) Tel: +44 (0) 1483 271291 Mob: +44 (0) 7979 900733
PowerHouse Energy Group plc WH Ireland Limited Turner Pope Investments Ltd Ikon Associates David Ryan James Joyce Andrew Thacker Zoe Alexander Adrian Shaw
Quick facts: Powerhouse Energy Group PLC
Market Cap: £18.51 m
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