Oversubscribed Retail Offer and TVR
Summary by AI BETAClose X
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
THE COMMUNICATION OF THIS ANNOUNCEMENT AND ANY OTHER DOCUMENTS OR MATERIALS RELATING TO THE RETAIL OFFER AS A FINANCIAL PROMOTION IS ONLY BEING MADE TO, AND MAY ONLY BE ACTED UPON BY, THOSE PERSONS IN THE UNITED KINGDOM FALLING WITHIN ARTICLE 43 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO SUCH PERSONS AND WILL BE ENGAGED IN ONLY WITH SUCH PERSONS. THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF POWERHOUSE ENERGY GROUP PLC.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Unless otherwise defined, definitions contained in this announcement have the same meanings as set out in the Company's announcements dated 29 May 2026 and 1 June 2026.
2 June 2026
Powerhouse Energy Group plc
("Powerhouse" or the "Company")
Oversubscribed Retail Offer and TVR
Powerhouse Energy Group plc (AIM: PHE), a UK company pioneering integrated technology that converts non-recyclable waste into low carbon energy with its revenue generating engineering consulting subsidiary ("Engsolve"), announces that the Retail Offer, announced on 1 June 2026 and which closed at 12:00 p.m. today, was oversubscribed and raised the Company's target of £150,000, before expenses. As a result, the Company has raised a total of £650,000 pursuant to the Placing and Retail Offer.
Admission, Total Voting Rights and Issue of Warrants
Application has been made to the London Stock Exchange for the admission of the 250,000,000 Placing Shares and the 75,000,000 Retail Offer Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings commence on AIM at 8.00 a.m. on or around 5 June 2026.
The Placing Shares and Retail Offer Shares will be issued fully paid and will rank pari passu with the Company's existing Ordinary Shares.
Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 5,121,654,741, all with voting rights. This figure may be used by shareholders 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's share capital pursuant to the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
In connection with the Placing and Retail Offer, Turner Pope will be issued 32.5 million share purchase warrants, with an exercise price of 0.2 pence, and an expiry term of three years from Admission.
Paul Emmitt, Powerhouse CEO, commented:
"We would like to thank all those investors who have taken part in this oversubscribed retail offer and were delighted with the support that we received during the process. The funds raised, along with those of the recent placing, will help us further drive forward our business delivering on our strategy and projects.
"Again, I would like to welcome all our new shareholders and thank them for their support and look forward to providing further updates in due course."
For more information, please visit www.phegroup.com or contact:
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Powerhouse Energy Group plc |
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Paul Emmitt, CEO |
Via Tavistock |
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Ben Brier, CFO |
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Strand Hanson Limited (Nominated & Financial Adviser) |
+44 (0) 207 409 3494 |
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Ritchie Balmer / Rob Patrick / Edward Foulkes |
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Turner Pope Investments (TPI) Ltd (Joint Broker) Andrew Thacker / Guy McDougall
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+44 (0) 203 657 0050 |
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Longspur Capital Limited (Financial Adviser & Joint Broker) |
+44 (0) 203 940 6608 |
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Adam Robertson |
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Tavistock (Financial PR) |
+44 (0) 207 920 3150 |
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Simon Hudson / Nick Elwes / Saskia Sizen |
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. PHE'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 also incorporates Engsolve Ltd, which is a revenue generating business offering Engineering Services across all sectors, with speciality services in the development of new technologies and clean energy.
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