Powerhouse Enrgy Grp Issue of Equity and General Update

 
TIDMPHE 
 
PowerHouse Energy plc 
                       ("PowerHouse", or the "Company") 
 
                      Issue of Equity and General Update 
 
Further to the Company's announcement on 15 February 2017, Powerhouse announces 
that it has received payment of GBP500,000 from Yady Worldwide, S.A. ("Yady") in 
respect of its participation in the recent placing of ordinary shares in the 
Company ("Placing"). The 62,500,000 shares to be issued to Yady will be locked 
in for a period of 12 months from the date of admission. 
 
Application for admission to trading on AIM of the 62,500,000 shares will be 
made in due course and it is anticipated that this will occur on or around 20 
March 2017. These shares will rank pari passu in all respects with the 
Company's existing issued Shares. 
 
Subsequent to the issuance of the Second Tranche shares, the Company will have 
956,148,821 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. 
 
The 280,430,920 shares to be issued to Hill Grove Investments Pty Ltd 
("Hillgrove") pursuant to the previously announced loan note conversion are 
expected to be issued and admitted to trading on AIM in due course. Once these 
shares are issued to Hillgrove the debenture on the Company's assets will be 
released. The shares to be issued to Hillgrove will be locked in for a period 
of 12 months following admission. 
 
A further update on the status of the transport of the G3-UHt to the UK 
indicates that the ship is approximately one week from docking at the Port of 
Liverpool. Upon landing and completing customs inspection, the G3 is expected 
to be delivered to a local engineering facility whereupon the PowerHouse team 
will begin the recommissioning process. It is expected that the G3 will be 
delivered to the University of Chester, Thornton Science Park, for active 
demonstrations to begin shortly after the completion of recommissioning and UK 
certification. 
 
For more information, contact: 
 
PowerHouse Energy Group plc                  Tel: [phone] 
Keith Allaun, Executive Chairman 
 
WH Ireland Limited (Nominated Adviser)       Tel: [phone] 
James Joyce / James Bavister 
 
Turner Pope Investments Ltd                  Tel: [phone] 
Ben Turner / James Pope 
 
Vicarage Capital Limited (Broker)            Tel: [phone] 
Jeremy Woodgate 
 
IFC Advisory (Financial PR & IR)             Tel: [phone] 
Tim Metcalfe / Graham Herring / Heather 
Armstrong / Miles Nolan 
 
 
 
END 
 

(END) Dow Jones Newswires

March 15, 2017 03:00 ET (07:00 GMT)