PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and used tyres, announces that David Ryan, Director of the Company and leader of the DMG® technology development effort, has subscribed for 6,000,000 Ordinary Shares at a price of 0.5p per Ordinary Share (“Subscription Shares”).
Application will be made for the admission of 6,000,000 Subscription Shares to trading on AIM and it is expected that this will occur on or around 16 August 2018. These shares will rank pari passu in all respects with the Company’s existing issued Ordinary Shares.
Subsequent to the issue of Subscription Shares, the Company will have 1,687,764,954 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.
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 | ||
| a) | Name | David Ryan | |
| 2 | Reason for the notification | ||
| a) | Position/status | Director | |
| 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 | |
| b) | LEI | 213800MY7XIYS2B5C163 | |
| 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
Identification code |
Ordinary Shares
GB00B4WQVY43 |
|
| b) | Nature of the transaction | Subscription for 6,000,000 ordinary shares | |
| c) | Price(s) and volume(s) | Price(s) 0.5 pence |
Volume(s) 6,000,000 |
| d) | Aggregated information – Aggregated volume – Price |
6,000,000 |
|
| e) | Date of the transaction | 08/08/2018 | |
| f) | Place of the transaction | London, AIM | |
For more information, contact:
PowerHouse Energy Group plc Tel: +44 (0) 203 368 6399
Keith Allaun, Chief Executive Officer
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 207 220 1666
James Joyce / Chris Viggor
Turner Pope Investments Ltd (Joint Broker) Tel: +44 (0) 203 621 4120
Ben Turner / James Pope
Ikon Associates(Media enquiries) Tel: +44 (0) 1483 271291
Adrian Shaw Mob: +44 (0) 7979 900733
About PowerHouse Energy
PowerHouse Energy Group plc is the developer of DMG©, the distributed, modular, thermal conversion system which allows for the distributed eradication of waste, the generation of distributed electricity, and the production of distributed hydrogen with the world’s first small, modular, hydrogen from waste process (HfW).
The Company is focused on technologies to enable efficient energy recovery from municipal and industrial waste streams that would otherwise be directed to landfills and incinerators; or from renewable and alternative fuels such as biomass, tyres, and plastics for power generation, or the production of high-quality hydrogen as a fuel for transport. DMG© allows for easy, economical, deployment and scaling of an environmentally sound solution to the growing challenges of waste eradication, landfill diversion, electrical demand, and distributed hydrogen production.
The PowerHouse DMG© process can generate in excess of 1 tonne of road-fuel quality H2, and in excess of 28MW/h of exportable electricity per day.
The PHE process produces very low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community levels.
PowerHouse is quoted on the London Stock Exchange’s AIM Market. The Company is incorporated in the
United Kingdom.
For more information see www.powerhouseenergy.net