TIDMPHE 
 
Powerhouse Energy Group plc 
 
                        ("Powerhouse" or the "Company") 
 
                           Result of General Meeting 
 
                                      And 
 
                                Issue of Equity 
 
14 July 2020 
 
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. 
 
Terms used in this announcement shall have the same meaning as those used in 
the Circular. 
 
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. 
 
The results of the votes will be available on the Company's website at https:// 
www.powerhouseenergy.net shortly and are set out below. 
 
Ordinary Resolutions  Votes for*  % of votes     Votes    % of votes     Votes    Total votes 
                                     cast*      against      cast     withheld**     cast 
 
1. Authorise the      444,254,748   99.93%        299,631    0.07%              0 444,554,379 
directors to allot 
new Ordinary Shares 
 
2. Approve the waiver 379,280,156   99.94%        236,526    0.06%     53,962,697 379,516,682 
of obligations under 
Rule 9 of the 
Takeover Code*** 
 
*Votes "for" include votes giving the Chairman discretion. 
 
**   A vote withheld is not a vote in law and is not counted in the calculation 
of the votes 'For' or 'Against' a resolution) 
 
*** Only Independent Shareholders were eligible to vote for resolution 2. 
 
Following the General Meeting, Dr Cameron Davies, Chairman of Powerhouse, said: 
 
 "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 
of a UK exclusivity agreement with Peel. 
 
"This will open the door to the pipeline of projects arising in the UK and then 
release overseas markets. The Company's technology will make a positive 
difference regenerating waste plastic into energy as a foundation of the 
hydrogen economy." 
 
Following the General Meeting, Mr Tim Yeo, Chairman of Waste2Tricity, said: 
 
"The resounding vote by Powerhouse Energy shareholders at today's EGM in favour 
of the acquisition of Waste2tricity is a strong vote of confidence in the 
future success of the enlarged group." 
 
Further to the General Meeting, the Company is issuing 1,437,440,277 Ordinary 
Shares to the Sellers of Waste2Tricity. Application has been made for the 
admission of 1,437,440,277 Ordinary Shares to trading on AIM ("Admission") and 
it is expected that Admission  will occur on or around 15 July 2020. These 
shares will rank pari passu in all respects with the Company's existing issued 
Ordinary Shares. 
 
Subsequent to the issue of Ordinary Shares, the Company will have 3,515,100,693 
Ordinary Shares in issue with voting rights. Powerhouse has no shares in 
Treasury, therefore this figure may be used by shareholders, from Admission, as 
the denominator for the calculations by which they will determine if they are 
required to notify their interest in, or a change in their interest in, the 
share capital of the Company under the FCA's Disclosure and Transparency Rules. 
 
For more information, contact: 
 
Powerhouse Energy Group plc          Tel: +44 (0) 203 368 
                                     6399 
 
David Ryan, Chief Executive Officer 
 
WH Ireland Limited (Nominated        Tel: +44 (0) 207 220 
Adviser)                             1666 
 
James Joyce / Lydia Zychowska 
 
Turner Pope Investments Ltd (Joint   Tel: +44 (0) 203 657 
Broker)                              0050 
 
Andrew Thacker / Zoe Alexander 
 
Ikon Associates (Media enquiries)    Tel: +44 (0) 1483 
                                     271291 
 
Adrian Shaw                          Mob: +44 (0) 7979 
                                     900733 
 
About Powerhouse Energy Group plc 
 
Powerhouse has developed a proprietary process technology - DMG® - which can 
utilise waste, unrecycleable plastic, end-of-life-tyres, and other waste 
streams to efficiently and economically convert them into syngas from which 
valuable products such as hydrogen, chemical precursors, electricity and other 
industrial products may be derived. The Powerhouse technology is one of the 
world's first proven, modular, hydrogen from waste (HfW) process. 
 
The Powerhouse DMG® process can generate up to 2 tonnes of road-fuel quality 
H2, and more than 58MWh of exportable electricity per day. 
 
The Powerhouse process produces low levels of safe residues and requires a 
small operating footprint, making it suitable for deployment at enterprise and 
community level. 
 
Powerhouse is quoted on the London Stock Exchange's AIM Market under the 
ticker: PHE, and is incorporated in the United Kingdom. 
 
For more information see www.powerhouseenergy.net 
 
 
 
END

(END) Dow Jones Newswires

July 14, 2020 10:52 ET (14:52 GMT)

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