Further Re. Proposed acquisition of Pyromex

RNS Number : 0976V

Powerhouse Energy Group PLC

06 January 2012

 

6 January 2012

PowerHouse Energy Group plc

("The Company" or "PowerHouse")

Further Re. Proposed acquisition of Pyromex Holding, AG - Extension of Option

Further to the announcement made on 30 December 2011 regarding PowerHouse's exercise of option notice to acquire the remaining 70 per cent. interest in Pyromex Holding, AG ("Pyromex")("the Target Shares"), the Company announces that by mutual agreement the option period has been extended to 31 January 2012 and as a result completion of the acquisition of the Target Shares is expected to occur on or before 7 February 2012.

A further announcement will be made in due course.

For additional information please contact:

PowerHouse Energy Group plc

Ross Lyndon-James
[phone]

Merchant Securities Limited (NOMAD and Broker)

David Worlidge/Simon Clements

[phone]

Pelham Bell Pottinger

Nick Lambert / Charles Stewart

[phone]

Notes to Editors:

·     PowerHouse is a leading provider of economically proven, on-site, clean energy systems that use traditional and renewable forms of fuel to generate electric and thermal energy in an environmentally responsible way. PowerHouse's forward development strategy includes the conversion of waste and coal and coal waste to cleaner liquid fuels including diesel and jet fuels

·     PowerHouse offers a complete turnkey waste/biomass to energy equipment solution either by: direct sale or energy supply under long term power purchase agreements

·      PowerHouse's shares trade on the Alternative Investment Market under the ticker (PHE)

 

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