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LONDON - Powerhouse Energy Group plc (AIM:PHE), a technology firm specializing in waste-to-energy solutions, reported that Louise Emmitt, the wife of CEO Paul Emmitt, purchased 1,933,679 ordinary shares at 0.519p per share on Monday. Following this transaction, the couple collectively holds a 0.14% stake in the company’s issued share capital.
The shares were acquired on the London Stock Exchange (LON:LSEG), as per the initial notification released by the company. The transaction is a notable event as it involves a person closely associated with a key managerial figure within the company.
Powerhouse Energy is known for its proprietary technology that converts non-recyclable waste into low carbon energy. The company’s integrated technology can process waste plastic, end-of-life tires, and other waste streams into syngas, which can then be used to create various industrial products, including hydrogen and electricity. The process is designed to produce minimal residues and can be implemented on both enterprise and community levels.
In addition to its waste-to-energy technology, Powerhouse also operates Engsolve Ltd, an engineering consulting division that generates revenue by offering services across various sectors, with a focus on the development of new technologies and clean energy.
The acquisition of shares by the CEO’s spouse is a financial move that may interest investors and stakeholders in the company, as it reflects a direct investment by a member of the CEO’s family into Powerhouse Energy’s equity.
This announcement is based on a press release statement and provides information that is deemed to constitute inside information under the Market Abuse Regulation, which is part of the United Kingdom (TADAWUL:4280) domestic law following the European Union (Withdrawal) Act 2018 and subsequent amendments.
Powerhouse Energy has not provided any additional comments on the share purchase beyond the factual details of the transaction. As with all share dealings by insiders, this event is publicly disclosed to ensure transparency and maintain investor confidence in the market.
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