Business
Final Results - Replacement
Final Results - Replacement.
About this update from Powerhouse Energy Group Plc
[{"type":"text","content":"\n \nThe following amendments have been made to the Final Results announcement released on 30 June 2016 at 7am.\n\nIn Notes 10 and 12.2 of the Company accounts it was stated that the Hillgrove loan was convertible at a price of 1p per share. As previously announced on 30 June 2015 the conversion price was changed from 1p to 0.5p per share.\n\nIn addition it was stated in Note 14 of the Company accounts and Note 16 of the Group accounts that the nominal value of the Company’s shares is 1p. Following the share reorganisation first announced on 30 June 2015 the nominal value of the shares is now 0.5p and the notes to the accounts should have reflected that.\n\nThe Directors report noted the substantial shareholders as at 31 December 2015. That list of shareholders was correct as of 6 May 2016 and that should be the appropriate reference date.\n\nNote 16 of the Group accounts stated that in 2015 Nigel Brent Fitzpatrick received no salary and that Robert Keith Allaun received a salary of $161,000, these numbers have been corrected to state that Nigel Brent Fitzpatrick was paid a salary of $12,528 in 2015 and that Robert Keith Allaun was paid a salary of $89,108.\n\nAll other details remain unchanged.\n\nThe full amended text is shown below.\n\nPowerHouse Energy Group plc\n\n(“PowerHouse†or the “Companyâ€)\n\nFinal Results - Replacement\n\nPowerHouse is pleased announce its audited results for the year ended 31 December 2015. A copy of the annual report and accounts will be posted to shareholders today and will be available shortly from the Company’s website, www.powerhouseenergy.net . A notice of the Company’s annual general meeting will be sent in due course.\n\nContacts:\n\n\n\nPowerHouse Energy Group plc\n+1 352 359 0911\n\n\n\nKeith Allaun, Executive Chairman\n\n\n\n\n\n\n\n\n\nWH Ireland Limited (Nominated Adviser)\n+44 (0) 207 220 1666\n\n\n\nJames Joyce / James Bavister\n\n\n\n\n\n\n\n\n\nVicarage Capital Limited (Joint Broker)\n+44 (0) 203 651 2910\n\n\n\nJeremy Woodgate\n\n\n\n\nChairman's Report\n\nDear Shareholders\n\nThank you for supporting PowerHouse for another year. As you are well aware, 2015 was a year of continued challenge as the Company has driven the development of an entirely new ultra-high temperature gasification technology. Our decision to begin the design of a newly engineered technology, from...