Business
Further re: Proposed acquisition of Pyromex
Further re: Proposed acquisition of Pyromex.
About this update from Powerhouse Energy Group Plc
[{"type":"text","content":"\n \nRNS Number : 4907W Powerhouse Energy Group PLC 31 January 2012 \n\n31 January 2012\n \nPowerHouse Energy Group plc\n(\"The Company\" or \"PowerHouse\")\n \n \nFurther Re. Proposed acquisition of Pyromex Holding, AG - Extension of Option \n \nFurther to its announcement on 6 January 2012 and in the light of the period that has elapsed since the conditional option to acquire the remaining 70 per cent. interest in Pyromex Holding AG (\"Pyromex\") was announced in August 2011, PowerHouse has requested that the Vendor provides an updated Pyromex balance sheet as at 31 December 2011. To facilitate this, Powerhouse and the Vendor have extended the option period until 29 February 2012. PowerHouse is finalising its financing arrangements to cover the initial acquisition payment pursuant to the terms of the option and working capital generally for the ongoing Group.\n \nA further announcement will be made in due course. \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 \nPelham Bell Pottinger\nNick Lambert / Charles Stewart\n+44 (0) 20 7861 3232\n \nNotes to Editors:\n \n· PowerHouse 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. PowerHouse's forward development strategy includes the conversion of waste and coal and coal waste to cleaner liquid fuels including diesel and jet fuels \n \n· PowerHouse offers a complete turnkey waste/biomass to energy equipment solution either by: direct sale or energy supply under long term power purchase agreements\n \n· PowerHouse's shares trade on the Alternative Investment Market under the ticker (PHE)\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END FURSDLFEFFESEDF\n ","length":3751,"tagName":"div"}]