Exercise of Warrants

Powerhouse Energy Group PLC

07 June 2024

 

7 June 2024

Powerhouse Energy Group Plc

 ("PHE" or the "Company")

Exercise of Warrants, Issue of Equity and Total Voting Rights

Powerhouse Energy Group Plc (AIM: PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy, announces that, further to its announcement of 6 June 2024, an administrative error was identified with respect to the warrant exercise price, as a result of which the Company has amended the exercise price to 0.5 pence per warrant share. Accordingly, it has issued 31,240,606 new ordinary shares of 0.5 pence each in the capital of the Company ("Ordinary Shares") at the exercise price of 0.5 pence per share ("New Shares").

Admission to AIM

Application has been made to London Stock Exchange plc for the 31,240,606 New Shares to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). It is currently anticipated that Admission will become effective and that dealings in the New Shares will commence on AIM at 8.00 a.m. on or around 11 June 2024. The New Shares will rank pari passu with the existing Ordinary Shares.

Total voting rights

On Admission, the Company will have 4,196,654,741 Ordinary Shares in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company's total number of Ordinary Shares in issue and voting rights will be 4,196,654,741 and 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 to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For more information, contact:
Powerhouse Energy Group plc Paul Emmitt	[phone]
Strand Hanson Limited (Nominated & Financial Adviser) Ritchie Balmer Rob Patrick James Harris	[phone]
Turner Pope Investments (TPI) Ltd (Broker) Andrew Thacker James Pope	[phone]
Tavistock (Financial PR) Simon Hudson Nick Elwes Saskia Sizen	[e-mail]

About Powerhouse Energy Group plc

Powerhouse Energy has developed a process technology which can utilise waste plastic, end-of-life-tyres, and other waste streams to convert them efficiently and economically into syngas from which valuable products such as chemical precursors, hydrogen, electricity, heat and other industrial products may be derived.

Powerhouse Energy's process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.

Powerhouse Energy Group also incorporates Engsolve Ltd, who offer Engineering Services across all sectors with speciality services in the development of new technologies and clean energy.

Powerhouse Energy is quoted on the London Stock Exchange's AIM Market under the ticker: PHE and is incorporated in England and Wales.

For more information see www.phegroup.com

 

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