Powerhouse Enrgy Grp Placing and Issue of Equity

 
TIDMPHE 
 
03 December 2018 
 
                          PowerHouse Energy Group plc 
                        ("PowerHouse" or the "Company") 
 
                          Placing and Issue of Equity 
 
PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering 
hydrogen production from waste plastic and used tyres, is pleased to announce 
an equity fund raising by way of a placing of 130,000,000 Ordinary shares of 
0.5p each in the Company ("Ordinary Shares") at 0.5p per Ordinary Share (the 
"Placing Price") to raise GBP650,000 before expenses. 
 
PowerHouse has undertaken this placing to provide it with the capital to ensure 
the continuity and expansion of its commercial and engineering efforts for the 
foreseeable future. 
 
This placing, was carried out exclusively by Turner Pope Investments, with the 
majority of their clients looking to take advantage of the EIS relief for which 
the Company has recently received HMRC advanced assurance, and that should be 
available on the newly issued shares. 
 
In addition to the placing, a holder of PHE warrants has chosen to exercise 
those warrants at 0.5p which will provide the Company with an additional GBP 
50,000 of capital from the exercise.  That holder has committed to hold the 
10,000,000 Ordinary Shares arising from the exercise for a period of at least 
18 months. 
 
Keith Allaun, CEO of the Company, said: "With this money secured, we are 
confident that we will be able to achieve our on-going commercial objectives as 
well as expand our testing and engineering capability with new personnel and 
with newly acquired, highly-specialised, equipment.  We also intend to further 
enhance our IP protection related to the DMG® System and EcoSynthesis Gas© 
production." 
 
Application will be made for the admission of 140,000,000 Ordinary Shares to 
trading on AIM and it is expected that this will occur on or around 10 December 
2018. 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 
1,856,431,621?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. 
 
For more information, contact: 
 
PowerHouse Energy Group plc 
Keith Allaun, Chief Executive Officer 
Tel: [phone] 
 
WH Ireland Limited (Nominated Adviser) 
James Joyce / Chris Viggor 
Tel: [phone] 
 
Turner Pope Investments (TPI) Ltd (Sole Broker) 
Andy Thacker 
Tel: [phone] 
 
Ikon Associates (Media enquiries) 
Adrian Shaw 
Tel: [phone] 
Mob: [phone] 
 
About PowerHouse Energy 
 
PowerHouse Energy 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 EcoSynthesis Gas© from which 
valuable products such as chemical precursors, hydrogen, electricity and other 
industrial products may be derived. The PowerHouse technology is one of the 
world's first proven, modular, hydrogen from waste (HfW) processes. 
 
The PowerHouse DMG® process can generate in excess of 1 tonne of road-fuel 
quality H2, and more than 28MW/h of exportable electricity per day with its 
low-carbon technology. 
 
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 London Stock Exchange's AIM Market under the 
ticker: PHE, and is incorporated in the United Kingdom. 
 
For more information see www.powerhouseenergy.net 
 
 
 
END 
 

(END) Dow Jones Newswires

December 03, 2018 02:00 ET (07:00 GMT)