TPI provides its latest research note on PowerHouse Energy Group plc (PHE.L).

PowerHouse’s Board has confirmed it has entered into a conditional agreement for the acquisition (the ‘Acquisition) of Waste2Tricity Limited (‘W2T’).

This will be effected through issue of 1,437,440,277 new Powerhouse ordinary shares (representing a 41% of the Company’s enlarged capital), which remains subject to a general meeting scheduled for 14 July 2020. A full description is contained in a Circular that covers the complete corporate action along with its connected proposal for shareholders to waive Rule 9 of the Takeover Code.

Completion of the Acquisition is expected to be transformational for Powerhouse, in that it secures UK exclusivity for DMG® Technology together with direct control of its UK sales, marketing and assignment which, given the size of the addressable market, TPI considers could enable it to start generating returns for shareholders within the next two years, during which it will also commence an international licensing roll-out to selected, well-financed partners based on similarly negotiated exclusivity terms it already has in place for the UK.

Read More PowerHouseEnergyGroupplc__26_June_2020__FINAL_BG.01.pdf

We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to PowerHouse Energy Group plc. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2020 Turner Pope Investments (TPI) Limited, all rights reserved.

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