REG - Inspired PLC - Issue of Equity

InspiredAnnouncement

03/04/2024 11:30

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RNS Number : 1682J  Inspired PLC  03 April 2024

3 April 2024

 

Inspired PLC

 

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

 

Issue of Equity

 

Inspired (AIM: INSE), a technology-enabled service provider delivering
solutions to enable businesses to transition to net-zero and manage their
response to climate change, announces the issue of 4,153,355 ordinary shares
of 1.25p 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 28 March 2024 that in respect of FY23 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 62.6p per New Ordinary Share, being the
average mid-market closing price of the Company's shares for the five days
prior to 28 March 2024, 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                     1,903,482

 David Higgins & Vanessa Higgins      1,903,482

 Ethan Higgins                        346,391

 

The Contingent Consideration Shares are expected to be admitted to trading on
AIM on 8 April 2024.

 

Following this admission, the Group's share capital and total voting rights
will comprise 105,038,135 ordinary shares of 1.25p each and the Group does not
hold any shares in treasury. Consequently, 105,038,135 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 7418 8900

 Edward Mansfield

 Satbir Kler

 Alma Strategic Communications                       +44 (0) 20 3405 0205

 Justine James                                       inspired@almastrategic.com (mailto:inspired@almastrategic.com)

 Hannah Campbell

 Will Ellis Hancock

 

 

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