REG - Inspired PLC - Issue of Equity

InspiredAnnouncement

25/05/2023 13:00

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RNS Number : 6890A  Inspired PLC  25 May 2023

25 May 2023

 

Inspired PLC

 

("Inspired" or the "Company" or the "Group")

 

Issue of Equity

 

Inspired (AIM: INSE), a leading technology enabled service provider
supporting businesses in their drive to net-zero and controlling energy costs,
announces the issue of 25,641,026 ordinary shares of 0.125p in the Company
("Contingent Consideration Shares") pursuant to the share purchase agreement
dated 9 July 2020 (the "SPA") between the Company and vendors of Ignite Energy
LTD ("Ignite") being Benjamin Higgins, David Higgins, Vanessa Higgins and
Ethan Higgins (the "Vendors").

 

The Company confirmed on 22 May 2023 that in respect of FY22 EBITDA
performance, £2.6 million in contingent consideration shares was due to the
Vendors, which is now being settled by the issue of the Contingent
Consideration Shares at a price of 10.14p per New Ordinary Share, being the
average mid-market closing price of the Company's shares for the five days
prior to 30 March 2023, as per the terms of the SPA.

 

The Contingent Consideration Shares will be issued between the Vendors as
follows:

 

 Vendor                               Number of Contingent Consideration Shares

 Benjamin Higgins                     11,751,282

 David Higgins & Vanessa Higgins      11,751,282

 Ethan Higgins                        2,138,462

 

The Contingent Consideration Shares are expected to be admitted to trading on
AIM on 30 May 2023.

 

Following this admission, the Group's share capital and total voting rights
will comprise 1,004,587,795 ordinary shares of 0.125p each and the Group does
not hold any shares in treasury. Consequently, 1,004,587,795 is the figure
which may be used by shareholders as the denominator for the calculation by
which they will determine if they are required to notify their interest in, or
a change to their interest in, Inspired under the FCA's Disclosure and
Transparency Rules.

 

Enquiries please contact:

 Inspired PLC                                        www.inspiredplc.co.uk

                                                   (https://url.avanan.click/v2/___http:/www.inspiredplc.co.uk___.YXAxZTpzaG9yZWNhcDphOm86MmFjYWI5MWFmYjc3NDg5NjZlZjQ3Mzk3NzExNWRhMWE6NjphNThjOjRkZmQ4MTk4NTY4MDFlODQ1ZmQ1NGE5NzAxOWFkZDIyNjMwNDYzNTNkNzFmYTExMmExODkzYTQ5YWZlYjJhNjY6cDpU)
 Mark Dickinson, Chief Executive Officer

                                                   +44 (0) 1772 689250
 Paul Connor, Chief Financial Officer

 David Cockshott, Chief Commercial Officer

 Shore Capital (Nominated Adviser and Joint Broker)   +44 (0) 20 7408 4090

 Patrick Castle

 James Thomas

 Rachel Goldstein

 Liberum (Joint Broker)                              +44 (0) 20 3100 2000

 Edward Mansfield

 Will Hall

 Alma PR                                             +44 (0) 20 3405 0205

 Justine James                                       inspired@almapr.co.uk

                                                   (https://url.avanan.click/v2/___mailto:inspired@almapr.co.uk___.YXAxZTpzaG9yZWNhcDphOm86MmFjYWI5MWFmYjc3NDg5NjZlZjQ3Mzk3NzExNWRhMWE6Njo5YzY1OmJmNGQyMTJmZWFkMWI1MGI2MGM4NzlhY2FlODQ0OWFmMTU1MWI3ZGUyNTU5ZWUzNWMxMGQ2OGUzMzg4YmI1OTU6cDpU)
 Hannah Campbell

 Will Ellis Hancock

 

 

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