Business
Result of General Meeting and Issue of Equity
Result of General Meeting and Issue of Equity.
About this update from Powerhouse Energy Group Plc
[{"type":"text","content":"\n \n Powerhouse Energy Group plc\n (\"Powerhouse\" or the \"Company\")\n Result of General Meeting\n And\n Issue of Equity\n 14 July 2020\n Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from waste plastic, announces that at the General Meeting of the Company held today, all resolutions as set out in the Circular and Notice of General Meeting dated 26 June 2020 (the “Circular”), were passed by shareholders. The resolutions proposed were in connection with the proposed issue of 1,437,440,277 new Ordinary Shares of 0.5p (“Ordinary Shares”) for the acquisition of the entire issue shared capital of Waste2Tricity Limited and the approval of the waiver of obligations under Rule 9 of the Takeover Code.\n Terms used in this announcement shall have the same meaning as those used in the Circular.\n Shareholders were invited to submit questions relating to the Acquisition to the board. Relevant questions and answers to will shortly be available to view on the Company’s website at https://www.powerhouseenergy.net.\n The results of the votes will be available on the Company’s website at https://www.powerhouseenergy.net shortly and are set out below.\n \n \n \n Ordinary Resolutions\n \n \n Votes for*\n \n \n % of votes cast*\n \n \n Votes against\n \n \n % of votes cast\n \n \n Votes withheld**\n \n \n Total votes cast\n \n \n \n \n \n \n \n \n \n \n \n \n 1. Authorise the directors to allot new Ordinary Shares\n 444,254,748\n 99.93%\n 299,631\n 0.07%\n 0\n 444,554,379\n \n \n 2. Approve the waiver of obligations under Rule 9 of the Takeover Code***\n 379,280,156\n 99.94%\n 236,526\n 0.06%\n 53,962,697\n 379,516,682\n \n \n *Votes \"for\" include votes giving the Chairman discretion.\n ** A vote withheld is not a vote in law and is not counted in the calculation of the votes 'For' or 'Against' a resolution)\n *** Only Independent Shareholders were eligible to vote for resolution 2.\n Following the General Meeting, Dr Cameron Davies, Chairman of Powerhouse, said:\n We are delighted with the result of the General Meeting and most grateful for the support we have received from shareholders in relation to the acquisition of Waste2Tricity. This is a transformational time for Powerhouse as we look forward to the construction of the first commercial DMG plant and the enactment ...