Powerhouse Energy Group PLC Directorate Changes and Operational Update (2597L)

TIDMPHE

RNS Number : 2597L

Powerhouse Energy Group PLC

30 December 2022

PowerHouse Energy Group plc

("PowerHouse" or the "Company")

Directorate Changes and Operational Update

Powerhouse Energy Group plc (AIM: PHE), the UK technology company commercialising hydrogen production from plastic, is pleased to announce that that it has appointed Antony Royston Gardner-Hillman as Non-Executive Chairman in addition to Anthony Clive Gale and David John Hitchcock, as Non-Executive Directors of the Company with effect from 1 January 2023.

In 2020 Mr Gardner-Hillman co-founded, and subsequently became Chairman of, Rocquaine Management Limited, which provides ownership-structuring and tax consulting services to ultra-high net worth clients in connection with their business interests and assets. Mr Gardner-Hillman is a solicitor qualified in England and Wales. He was a Co-Founder of JTC Group in 1987 and became its first Chairman, remaining as a Director and Chairman until selling his shareholding and resigning from the board in 2008.

Mr Gale is currently Founder and Managing Director of Tony Gale Cleantech Consultants Ltd and has over 30 years' experience in the industrial and manufacturing sectors, both with global corporations and SMEs.

Mr Hitchcock is currently a Chairman and Co-Founder of States Bridge Capital, a firm which lists fast growing private companies both in the UK and internationally, via IPOs to the UK Public Stock Market including the Standard List and AIM. It also acts as Financial Advisor to UK Public Companies. Mr Hitchcock has historically worked with a number of early stage, or distressed businesses.

Operational Update

Further to the announcements dated 5 September and 15 August 2022, the Company can confirm that work has continued towards finalisation of the agreements regarding the joint venture with Peel NRE Ltd ("Peel") to form a special purpose vehicle ("SPV"), Protos Plastics-to Hydrogen No 1 Ltd. A further announcement will be made when appropriate.

Further regulatory disclosures:

Other than as disclosed below, there are no further disclosures to be made in accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies:

Full Name: Antony Royston Gardner-Hillman (known as "Tony")

Mr Gardner-Hillman, aged 66, is, or has during the last five years been, a director of the following companies:

Current Directorships

 
 Rocquaine Management Limited 
 MotionLED Technology Enterprise Limited 
 MotionLED Technology Limited 
 Minerva Tutors Limited 
 Hillman Financial Management Limited 
 Euroknights Asset Management V Limited 
 Cambium Global Timberland Limited 
 Cambium Pahala Holdings Limited 
 Cambium Pinnacle Holdings Limited 
 Cambium Holdings Limited 
 Corrigan Holdings Limited 
 Cambium Minas Holdings Limited 
 Cambium MG Holdings Limited 
 Cambium South Atlantic Holdings Limited 
 Santa Juana Limited 
 Hidcote Holdings Limited 
 Hidcote Limited 
 Hidcote Marketing Limited 
 Kingsbridge Capital Limited 
 Staznet Family Office Ltd 
 Balfour Investments Limited 
 Beavron Investments Limited 
 Berkeley Square Investments Limited 
 Buckingham Corporations Limited 
 Charleston Investments Limited 
 Cheddington Lodge Limited 
 Chesterhill Properties Limited 
 Cobra Group Holdings Limited 
 Cobra Investments Limited 
 Hemel Holdings Limited 
 Mentmore Estate Limited 
 Mentmore Greenland Limited 
 Roxmar Limited 
 Samuel Holdings Limited 
 Stone Lodge Limited 
 Tintrade Limited 
 Unichart Limited 
 Float Investments Limited

Past Directorships (held within the last five years)

 
 Bellzone Mining Plc 
 Windspoint International Limited 
 Evreux Holdings Limited 
 J.C.N. Investments (Jersey) Limited 
 Anthony Investments (Esplanade) Limited 
 Spectrum Motion Media Limited 
 Kendrick Resources Plc 
 The Ottoman Fund Limited 
 Ottoman Finance Company 1 Limited 
 Ottoman Finance Company 2 Limited 
 Cavendish Square Partners (General Partner) Limited 
 Euroknights Asset Management VI Limited 
 Euroknights Asset Management VII Limited 
 Smith & Williamson (Channel Islands) Limited 
 Shackleton Partners (General Partner) Limited 
 CPBM Finance Limited 
 CPBM Midco 1 (Jersey) Limited 
 CPBM Midco 2 (Jersey) Limited 
 NAXS AB 
 New Age Alzarooni 2 Limited

On 17 August 2001, Mr Gardner-Hillman was appointed as a Director of Brian Hill Haulage & Plant Hire Limited. He resigned that position on 3 March 2007. The company went into administration on 12 October 2007 and moved into creditors voluntary winding up on 1 October 2008, with an estimated GBP920,000 of outstanding creditors according to the administrator's progress report dated 3 October 2008. The company was dissolved on 20 March 2012.

On 19 February 2004, Mr Gardner-Hillman was appointed as a Director of Blue Swan Insurance (Jersey) Limited. Blue Swan went into liquidation at the instigation of its directors on 28 April 2006. Mr Gardner-Hillman has confirmed that there has not been a liquidator's report filed to date and is thus unaware of the total amount outstanding to creditors. The company was dissolved on 11 January 2010.

On 26 November, 2010, Mr Gardner-Hillman was appointed as a Director of Evreux Holdings Limited, the parent company, and of its subsidiaries J.C.N. Investments (Jersey) Limited and Anthony Investments (Esplanade) Limited, a group of privately owned property investment companies. The companies went into liquidation at the instigation of their directors on 16 April, 2019. Mr Gardner-Hillman was informed by the liquidator that in 2016 the creditors of Anthony Investments (Esplanade) Limited and of J.C.N. Investments (Jersey) Limited had been paid in full. Anthony Investments (Esplanade) Limited was dissolved on 14 October, 2022. The creditors of the parent company, Evreux Holdings Limited, received 45 pence in the pound by way of interim distributions, although the total amount outstanding to creditors is unknown to Mr Gardner-Hillman. Mr Gardner-Hillman has received no further information from the liquidator, and is not aware of any further statement of affairs having been published in respect of Evreux Holdings Limited or of J.C.N. Investments (Jersey) Limited, or of the amount remaining outstanding to their respective creditors.

On 13 November 2009, Mr Gardner-Hillman was appointed as a Director of Bellzone Mining PLC (company registered in Jersey). The company went into liquidation at the instigation of its directors on 13 December, 2018. The company remains in liquidation and Mr Gardner-Hillman has received no information from the liquidator, and is not aware of a statement of affairs having been published, or of the amount remaining outstanding to creditors.

Full Name: Anthony Clive Gale (known as "Tony")

Mr Gale, aged 65, is, or has during the last five years been, a director or partner of the following companies and partnerships:

Current Directorships

 
 Deploy Tech Ltd 
 Tony Gale Cleantech Consultants 
  Ltd

Past Directorships

 
 Bambuloo Limited 
 Phytoponics Limited

Mr Gale was formerly a Director of Phytoponics Limited, which went into creditors voluntary liquidation on 19 October 2021. Mr Gale resigned from the company on 23 June 2021. The liquidation process is still on going, with a deficiency to creditors of approximately GBP228,812 including Mr Gale.

Full Name: David John Hitchcock (known as "Dewi")

Mr Hitchcock, aged 59, is, or has during the last five years been, a director or partner of the following companies and partnerships:

Current Directorships

 
 Evora Scr Ltd 
 The Juggling King Rum Company Ltd 
 Waterloo Street Bpra Property Fund LLP 
 Mill Wharf Bpra Property Fund LLP 
 Msct Trustee Limited 
 Cyrus Investment Management LLP 
 Burning Hammer Properties Ltd 
 Future Family Limited

Past Directorships

 
 Cim Nominees Ltd 
 Rhino Engineering Group Ltd 
 Heartland Engineering System Limited 
 Laser Precision Engineering Ltd 
 Engineering Precision Solution Limited 
 Cyrus RW Holdings 
 Cuttack Consulting 
 Fgp Group Limited 
 Rhino Systems Limited 
 Cesb Realisations Limited 
 Ramp Surface Coatings Limited 
 Nicu Care Limited 
 Stemcellcare Limited

Mr Hitchcock was formerly a Director of CESB Realisations Limited, having been appointed on 28 January 2016, which went into administration on 8 June 2018. The company moved out of administration into creditors voluntary liquidation on 31 May 2019. The company was dissolved on 24 May 2021 with unsatisfied unsecured creditors of approximately GBP4.1m according to the notice of final account prior to dissolution, filed at company's house on 15 February 2021.

Mr Hitchcock was formerly a Director of Cyrus RW Holdings Limited. It went into administration on 21 February 2018.The company was dissolved on 20 February 2020 with approximately GBP3m outstanding to creditors according to the notice of final account prior to dissolution, filed at Companies House on 14 November 2019.

For more information, contact:

 
 PowerHouse Energy Group plc     powerhouse@tavistock.co.uk 
 Keith Riley 
 
 WH Ireland Limited (Nominated   Tel: +44 (0) 207 
  Adviser)                        220 1666 
 James Joyce / James Bavister/ 
  Enzo Aliaj 
 
 Turner Pope Investments Ltd     Tel: +44 (0) 203 
  (Joint Broker)                  657 0050 
 Andrew Thacker / James Pope 
 
 Tavistock (Financial PR)        powerhouse@tavistock.co.uk 
 Simon Hudson / Nick Elwes / 
  Heather Armstrong

About PowerHouse Energy Group plc

Powerhouse Energy has developed a process technology which can utilise waste plastic, end-of-life-tyres, and other waste streams to convert them efficiently and economically into syngas from which valuable products such as chemical precursors, hydrogen, electricity, heat and other industrial products may be derived.

Powerhouse Energy's process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.

Powerhouse Energy 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

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