Business
Disclosure of Dealings
Disclosure of Dealings.
About this update from Powerhouse Energy Group Plc
[{"type":"text","content":"\n \nRNS Number : 2525N Powerhouse Energy Group PLC 30 August 2011 \n \n\n30 August 2011\n \nPowerHouse Energy Group plc\n \n(\"the Company\")\n \nDisclosure of dealings\n \nIn the Admission document published by the Company on 31 March 2011, it was stated that following Admission EnviroEnergy Resources Limited (\"ERL\"), the Company's major shareholder, intended to distribute its entire holding in the Company to its shareholders.\n \nIn addition, ERL undertook to the Company and Merchant Securities Limited (\"Merchant Securities\"), the Company's nominated adviser and broker, that for a period of 12 months after Admission it would not dispose of any ordinary shares in the Company without the consent of Merchant Securities, such consent not to be unreasonably withheld or delayed (\"the Undertaking\").\n \nAs announced on 18 August 2011, ERL is currently conducting the process of distributing its shareholding in PowerHouse to its shareholders. \n \nThe Company has been advised that it has transferred a further 52,843,484 Ordinary Shares to certain of its shareholders and that following such transfers ERL now holds 60,713,928 Ordinary Shares, representing 21.36 per cent. of the issued share capital of the Company.\n \nThe ERL shareholders who have had shares transferred to them have all signed a Deed of Adherence to comply with the Undertaking and must obtain the approval of Merchant Securities for any future transfers until 29 June 2012.\n \n<ends>\n \nFor additional information please contact:\n \nPowerHouse Energy Group plc\nRoss Lyndon-James\n+44 (0) 20 7887 1362\n\nMerchant Securities Limited (NOMAD and Broker)\nDavid Worlidge/Simon Clements\n+44 (0) 20 7628 2200\n \nPaterson Securities Limited (Australian Broker)\nEmmanuel Duvnjak\n+61 (0) 412 734 200\n \nPelham Bell Pottinger\nNick Lambert / Jenny Renton\n+44 (0) 20 7861 3232\n \nNotes to Editors:\n \n· PowerHouse Energy Group plc 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\n \n· PowerHouse offers a complete turnkey waste/biomass to energy equipment solution either by: direct sale...