POWERHOUSE ENERGY GROUP PLC - Result of AGM
PR Newswire
London, September 30
30 September 2020
Powerhouse Energy Group plc
("Powerhouse" or the "Company")
Result of AGM
Powerhouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic, announces that at the Annual General Meeting of the Company held today, all resolutions put to shareholders were duly passed.
The results of the votes are set out below:
| FOR* | AGAINST | ||||
| RESOLUTIONS | Votes | % of votes cast | Votes | % of votes cast | Abstain |
| Ordinary Resolution 1 | 1,429,943,616 | 99.98% | 300,000 | 0.02% | 412,543 |
| To receive the financial statements for the year ended 31 December 2019 together with Directors' Reports and the Auditors' Report | |||||
| Ordinary Resolution 2 | 1,429,340,872 | 99.94% | 828,675 | 0.06% | 486,612 |
| To approve the Remuneration Report | |||||
| Ordinary Resolution 3 | 1,429,891,960 | 99.97% | 499,922 | 0.03% | 264,277 |
| To reappoint Jeffreys Henry LLP as audit and authorise the directors to fix their remuneration | |||||
| Ordinary Resolution 4 | 1,323,926,230 | 97.94% | 27,903,121 | 2.06% | 78,826,808 |
| To re-elect Dr Cameron Davies as a director of the Company | |||||
| Ordinary Resolution 5 | 1,342,651,569 | 99.24% | 10,298,680 | 0.76% | 77,705,910 |
| To re-elect James Greenstreet as a director of the Company | |||||
| Ordinary Resolution 6 To re-appoint Myles Kitcher as a director of the Company | 1,429,859,351 | 99.98 | 270,000 | 0.02% | 526,808 |
| Ordinary Resolution 7 To re-appoint Timothy Yeo as a director of the Company | 1,417,992,013 | 99.20% | 11,419,964 | 0.80% | 1,244,182 |
| Ordinary Resolution 6 To re-appoint Allan Vlah as a director of the Company | 1,429,835,631 | 99.98% | 297,720 | 0.02% | 522,808 |
| Ordinary Resolution 9 To authorise the directors to allot and issue equity securities | 1,376,905,380 | 99.94% | 877,630 | 0.06% | 52,873,149 |
| Special Resolution 10 To authorise the directors to dis-apply pre-emption rights, as set out in the notice of meeting | 1,185,373,542 | 86.03% | 192,409,468 | 13.97% | 52,873,149 |
| *Votes received for the resolutions includes votes allowing the Chairman's discretion. | |||||
For more information, contact:
| Powerhouse Energy Group plc | Tel: +44 (0) 203 368 6399 |
| David Ryan, Chief Executive Officer | |
| WH Ireland Limited (Nominated Adviser) | Tel: +44 (0) 207 220 1666 |
| James Joyce / Lydia Zychowska | |
| Turner Pope Investments Ltd (Joint Broker) | Tel: +44 (0) 203 657 0050 |
| Andrew Thacker / Zoe Alexander | |
| Ikon Associates (Media enquiries) | Tel: +44 (0) 1483 271291 |
| Adrian Shaw | Mob: +44 (0) 7979 900733 |
Notes for editors:
About Powerhouse Energy Group plc
Powerhouse has developed a proprietary process technology - DMG - which can utilise waste plastic, end-of-life-tyres, and other waste streams to efficiently and economically convert them into syngas from which valuable products such as chemical precursors, hydrogen, electricity and other industrial products may be derived. Powerhouse's technology is one of the world's first proven, distributed, modular, hydrogen from waste (HfW) process.
The Powerhouse DMG process can generate up to 2 tonnes of road-fuel quality hydrogen and more than 58MWh of exportable electricity per day.
Powerhouse's process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level. As announced on 11th February 2020 under its Supplemental Agreement with Peel Environmental, Powerhouse will receive an annual license fee of £500,000 in respect of each project which is commissioned.
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
