Correction: Placing and Issue of Equity

About this update from Powerhouse Energy Group Plc

[{"type":"text","content":"\n \nPowerHouse Energy Group plc\n\nGENERAL TEXT AMENDMENT\n\nThe following amendments have been made to the ‘Placing and issue of equity’ announcement released on 6 July 2018 at 07:30AM.\n\nThe number of New Ordinary Shares issued and being applied for Admission in the text should read 98,807,004. Therefore the Company will have 1,649,260,030 Ordinary Shares in issue subsequent to the issue of the new Ordinary Shares arising from the Placing.\n\nAll other details remain unchanged. The full amended text is shown below.\n\nPowerHouse Energy Group plc(\"PowerHouse\" or the \"Company\")\n\nPlacing and issue of equity\n\nPowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and used tyres, announces that it has raised £594,030 net of expenses by way of a placing of 98,807,004 new Ordinary Shares of 0.5p in the Company  (“Ordinary Shares”) (the “Placing”) and a subscription for £100,000 of new Ordinary Shares at a subscription price of 0.5p per share (“Subscription”).\n\n98,807,004 new Ordinary Shares have been placed by Turner Pope Investments Ltd at a price of 0.5p per Ordinary Share (“Placing Shares”). In addition, one warrant exercisable for a period of 2 years at a subscription price of 0.5p per Ordinary Share, will be issued to participants in the Placing for every two Placing Shares acquired.  This Placing exhausted the Company’s available authority to issue shares afforded it by the Shareholders at the last Annual General Meeting.\n\nAdditionally, 20,000,000 new Ordinary Shares are being subscribed by a private investor (“Subscription Shares”). One warrant exercisable under the same terms as the Placing Shares shall be issued to the private investor.\n\nApplication is being made for the admission of 98,807,004 new Ordinary Shares as a result of the Placing to trading on AIM (“Admission”) and it is expected that this will occur on or around 13 July 2018.  These shares will rank pari passu in all respects with the Company's existing issued Ordinary Shares.\n\nSubsequent to the issue of the new Ordinary Shares arising from the Placing, the Company will have 1,649,260,030 Ordinary Shares in issue.\n\nApplication will be made for the admission of 20,000,000 Subscription Shares to trading on AIM (“Admission”) conditional...

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