Powerhouse Enrgy Grp Issue of Equity

 
TIDMPHE 
 
PowerHouse Energy Group plc 
 
                        ("PowerHouse" or the "Company") 
 
                                Issue of Equity 
 
PowerHouse is pleased announce that it has raised GBP250,000 by way of a direct 
subscription issuing 38,461,538 new ordinary shares of 0.5p each in the Company 
("New Ordinary Shares") at a price of 0.65 pence per New Ordinary Share. The 
New Ordinary Shares represent approximately 6.3 per cent. of the Company's 
enlarged issued share capital. 
 
Application is being made for the admission of the 38,461,538 New Ordinary 
Shares to trading on AIM and it is expected that this will occur on or around 
21 July 2016.  These shares will rank pari passu in all respects with the 
Company's existing issued ordinary shares. 
 
Subsequent to the issuance of the New Ordinary Shares, the Company will have 
607,934,536 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. 
 
Keith Allaun, Executive Chairman of Powerhouse said, "As we move to completion 
of final testing and commissioning of the G3-UHt System in Brisbane, we've made 
the decision to expedite the hiring of several key project management and 
business development staff to support the Company's commercial 
roll-out.  Acquiring this additional capital will afford us greater 
flexibility, and allow us to respond to potential customer requests far more 
rapidly.  We are confident that this infusion will see us through our next 
stage of development as a Company.  With the uncertainty surrounding Brexit and 
potential market conditions, the Board and I believe that this move is in the 
best interests of the Company and our Shareholders." 
 
Contacts: 
 
PowerHouse Energy Group plc               [phone] 
 
Keith Allaun, Executive Chairman 
 
WH Ireland Limited (Nominated Adviser)    [phone] 
 
James Joyce / James Bavister 
 
Vicarage Capital Limited (Joint Broker)   [phone] 
 
Jeremy Woodgate 
 
 
 
END 
 

(END) Dow Jones Newswires

July 15, 2016 02:00 ET (06:00 GMT)