Oversubscribed Retail Offer and TVR
Powerhouse Energy Group plc announced that its Retail Offer, which closed today, was oversubscribed, raising its target of £150,000 and bringing the total raised from the Placing and Retail Offer to £650,000. Admission of 250,000,000 Placing Shares and 75,000,000 Retail Offer Shares to AIM is expected on or around June 5, 2026, at which point the total number of ordinary shares in issue will be 5,121,654,741. In connection with the fundraising, Turner Pope will receive 32.5 million share purchase warrants with an exercise price of 0.2 pence, expiring three years from Admission.
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Unless otherwise defined, definitions contained in this announcement have the same meanings as set out in the Company's announcements dated 29 May 2026 and 1 June 2026.
Powerhouse Energy Group plc
("Powerhouse" or the "Company")
Oversubscribed Retail Offer and TVR
Powerhouse Energy Group plc (AIM: PHE), a UK company pioneering integrated technology that converts non-recyclable waste into low carbon energy with its revenue generating engineering consulting subsidiary ("Engsolve"), announces that the Retail Offer, announced on 1 June 2026 and which closed at 12:00 p.m. today, was oversubscribed and raised the Company's target of £150,000, before expenses. As a result, the Company has raised a total of £650,000 pursuant to the Placing and Retail Offer.
Admission, Total Voting Rights and Issue of Warrants
Application has been made to the London Stock Exchange for the admission of the 250,000,000 Placing Shares and the 75,000,000 Retail Offer Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings commence on AIM at 8.00 a.m. on or around 5 June 2026.
The Placing Shares and Retail Offer Shares will be issued fully paid and will rank pari passu with the Company's existing Ordinary Shares.
Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 5,121,654,741, all with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's share capital pursuant to the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
In connection with the Placing and Retail Offer, Turner Pope will be issued 32.5 million share purchase warrants, with an exercise price of 0.2 pence, and an expiry term of three years from Admission.
Paul Emmitt, Powerhouse CEO, commented:
"We would like to thank all those investors who have taken part in this oversubscribed retail offer and were delighted with the support that we received during the process. The funds raised, along with those of the recent placing, will help us further drive forward our business delivering on our strategy and projects.
"Again, I would like to welcome all our new shareholders and thank them for their support and look forward to providing further updates in due course."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.