Business
First Day of Dealings
First Day of Dealings.
About this update from Powerhouse Energy Group Plc
[{"type":"text","content":"\n \nRNS Number : 3145J Powerhouse Energy Group PLC 29 June 2011 \n\n \n \n29 June 2011\n \nPowerHouse Energy Group plc\n \n(\"PowerHouse\", the \"Group\" or the \"Company\")\n \nFIRST DAY OF DEALINGS FOR POWERHOUSE ENERGY GROUP PLC \nFOLLOWING ITS REVERSE TAKEOVER OF BIDTIMES PLC \n \nPowerHouse Energy Group plc, (AIM: PHE) an alternative energy business specialising in the sale of waste to energy systems, is pleased to announce the admission of its share capital to trading on the AIM Market of the London Stock Exchange and the first day of dealings in its ordinary shares under ticker symbol \"PHE\" at 8am today (\"Admission\"), following the completion of the reverse takeover announced on 1 April 2011. Bidtimes plc (\"Bidtimes\") has now been renamed PowerHouse Energy Group plc. \n \nThe Company has also completed a capital reorganisation under which shareholders of Bidtimes received one new ordinary share of 1p each (\"Ordinary Share\") and one new deferred share of 4p each for every 10 ordinary shares of 0.5p each held in Bidtimes.\n \nAt Admission, the Company will have 283,670,473 Ordinary Shares admitted to trading on AIM. Merchant Securities Limited is the nominated adviser and broker to the Company. The admission follows an £11 million pre-reverse takeover capital raise.\n \nIn 2010, PowerHouse secured a manufacturing and marketing licence with Pyromex AG (\"Pyromex\") of Switzerland for a patent pending, zero emission, waste-to-energy, ultra-high temperature gasification (\"UHTG\") system. The UHTG system which is modular, scalable and highly efficient facilitates the conversion of a broad range of waste materials and sub-viable coal deposits into various forms of energy including synthesized gas, hydrogen and electricity. The UHTG system operates without the consumption of high volumes of water or power and has a very small physical plant footprint. \nThe licence with Pyromex is exclusive in North and Central America, Australia, New Zealand and non-exclusive throughout the MENA region, Gulf Coope...