Business
Issue of Equity and Holding in the Company
Issue of Equity and Holding in the Company.
About this update from Powerhouse Energy Group Plc
[{"type":"text","content":"\n \n26 January 2016\n\nPowerHouse Energy Group plc\n\n(“PowerHouse†or the “Companyâ€)\n\nIssue of Equity and Holding in the Company\n\nPowerHouse is pleased to announce that it has raised £50,000 (gross) through a subscription of 9,090,909ordinary shares of 0.5 pence each (“Ordinary Sharesâ€) in the capital of the Company (the “Subscriptionâ€) at a price of 0.55 pence per Ordinary Share.\n\nThe new Ordinary Shares pursuant to the Subscription will be issued to Mr. P. Warwick and constitute 2.07% of the enlarged Ordinary Share capital of the Company. The proceeds of the Subscription will be used for general working capital purposes.\n\nApplication will be made for the new Ordinary Shares to be admitted to trading on AIM (“Admissionâ€) and it is expected that Admission will take place on or around 01 February 2016.\n\nThe Company has been informed that following Mr Warwick’s participation in the Subscription, his interest in the Ordinary Shares of the Company will be 23,872,150 ordinary shares, equivalent to 5.43% of the enlarged Ordinary Share capital of the Company. \n\nUpon Admission, following the issue of the new Ordinary Shares, the Company’s issued share capital will consist of 439,254,323 Ordinary Shares in issue of 0.5 pence each with one voting right. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company is 439,254,323.\n\nThe above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules. \n\nFor additional information please contact: \n\nPowerHouse Energy Group plcKeith A...