Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from waste plastic, announces that further to the announcement of 16 February 2021, the Company is issuing 1,600,000 ordinary shares of 0.5p each in the Company (“Ordinary Shares”) further to the exercise of options at 0.75p per Ordinary Share by non-executive director, James Greenstreet.
Application has been made for the admission of 1,600,000 Ordinary Shares to trading on AIM (“Admission”) and it is expected that this will occur on or around 24 February 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 3,909,414,135 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.
Further to these transactions, Mr Greenstreet is beneficially interested in 2,440,000 Ordinary Shares, of which 840,000 are held by Mrs Greenstreet, which represents 0.06% of the Company’s issued ordinary share capital.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
|1||Details of the person discharging managerial responsibilities/person closely associated|
|2||Reason for the notification|
|b)||Initial notification/ Amendment||Initial notification|
|3||Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor|
|a)||Name||Powerhouse Energy Group plc|
|4||Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted|
|a)||Description of the financial instrument, type of instrument
|Ordinary Shares of 0.5p each
|b)||Nature of the transaction||Exercise of options|
|c)||Price(s) and volume(s)||
– Aggregated volume
|1,600,000 ordinary shares
|e)||Date of the transaction||17 February 2021|
|f)||Place of the transaction||London Stock Exchange|
For more information, contact:
|Powerhouse Energy Group plc||Tel: +44 (0) 203 368 6399|
|Tim Yeo, Executive Chairman|
About Powerhouse Energy Group plc
Powerhouse, the sustainable hydrogen company, 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 and 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 GBP500,000 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.
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