Results of Placing and TVR
Summary by AI BETAClose X
THIS ANNOUNCEMENT IS RESTRICTED AND IS 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.
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.
1 June 2026
Powerhouse Energy Group plc
("Powerhouse" or the "Company")
Results of Placing and TVR
Powerhouse Energy Group plc (AIM: PHE), a company focused on the conversion of non-recyclable waste into low carbon energy alongside its revenue-generating engineering consultancy division Engsolve, is pleased to announce that, further to the Company's announcement of 29 May 2026 (the "Launch Announcement"), the Company has raised gross proceeds of £0.5 million through the issue of 250,000,000 new ordinary shares of 0.01p each in the capital of the Company ("Ordinary Shares") (the "Placing Shares") at a price of 0.2p per share (the "Issue Price") (the "Placing").
The net proceeds of the Placing are expected to provide the Company with a cash runway to undertake planned activities for approximately the next 12 months.
Paul Emmitt, Powerhouse's CEO, commented:
"These funds will allow us to further accelerate the delivery of our key projects whilst also enabling us to progress the initiatives that we are undertaking and to further evaluate the numerous opportunities that we are continuing to see; progressing them from opportunities to real projects for the Company."
"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."
Turner Pope Investments (TPI) Ltd ("Turner Pope") acted as sole bookrunner and sole broker in respect of the Placing.
Capitalised terms used in this announcement but not otherwise defined shall have the meanings ascribed to such terms in the Launch Announcement.
Admission and total voting rights
Application will be made to the London Stock Exchange for the admission of the Placing Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in such Ordinary Shares will commence at 8.00 a.m. on or around 5 June 2026. The Placing Shares will be issued fully paid and will rank pari passu in all respects with the Company's Existing Ordinary Shares.
Admission is conditional upon, among other things, the Placing Agreement not having been terminated and becoming unconditional in all respects.
Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 5,046,654,741, 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.
Retail Offering
As noted in the Launch Announcement, Powerhouse is making available the Retail Offering to its current shareholders of up to 75,000,000 new Ordinary Shares on the same terms as the Placing. A separate announcement in respect of the Retail Offering is expected to be released by the Company shortly.
For more information, contact:
|
Powerhouse Energy Group plc |
|
|
Paul Emmitt, CEO |
Via Tavistock |
|
Ben Brier, CFO |
|
|
|
|
|
Strand Hanson Limited (Nominated & Financial Adviser) |
+44 (0) 207 409 3494 |
|
Ritchie Balmer / Rob Patrick / Edward Foulkes |
|
|
|
|
|
Turner Pope Investments (TPI) Ltd (Joint Broker) Andrew Thacker / Guy McDougall |
+44 (0) 203 657 0050 |
|
|
|
|
Longspur Capital Limited (Financial Adviser & Joint Broker) |
+44 (0) 203 940 6608 |
|
Adam Robertson |
|
|
|
|
|
Tavistock (Financial PR) |
+44 (0) 207 920 3150 |
|
Simon Hudson / Nick Elwes / Saskia Sizen |
About Powerhouse Energy Group plc
www.powerhouseenergy.co.uk
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. Powerhouse Energy is quoted on AIM with the ticker: PHE
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund