REG - Inspirit Energy Hlds - Board Changes

Inspirit Energy HoldingsAnnouncement

13/02/2023 10:00

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RNS Number : 7200P  Inspirit Energy Holdings PLC  13 February 2023

13 February 2023

 

Inspirit Energy Holdings Plc

("Inspirit" or "the Company")

 

Board Changes

 

Inspirit (AIM: INSP) is pleased to announce that Paul Needley has been
appointed independent Non-Executive Director with immediate effect.

Paul is an experienced Managing Director and Chartered Engineer with a proven
record of building a company based on strong values, reliability, and loyalty
to clients, employees and the gas, oil and renewable appliance industries in
which it operates. Paul is currently the Managing Director of Enertek
International Ltd ("Enertek"), one of the UK's largest independent engineering
R&D consultancies specialising in the design, development and
certification of energy consuming products. Enertek's clients include major
multinational corporations and government bodies, SME's, independent
organisations and sole traders. The company operates as an extension or
alternative to in-house R&D departments and specialises in the design for
manufacture, development and certification of products. The company operates
worldwide, hence Paul as a good insight into the feasibility, development,
commercialisation and productionisation of new products and technologies. Paul
is a Chartered Engineer, a Fellow of the Institution of Mechanical Engineers
and a Fellow of the Energy Institute.

Paul Allen Needley (aged 60) is or has during the last five years been a
director or partner of the following companies and partnerships:

 Current:                       Past:
 Enertek International Ltd      Enertek International GMBH
 Enertek R&D Group Limited
 Enertek Design Limited
 Enertek Developments Limited
 H2 Fires Limited

Other than as disclosed above, 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.

As per the Company announcement of 2 November 2021, early-stage discussions
were held with Enertek regarding assisting Inspirit in developing the
potential for the Inspirit Charger to become hydrogen powered backwards
compatible. Given the Company's focus on its ongoing work with Volvo marine
engines, these discussions have not progressed and given Paul's appointment to
the Board are now not expected to continue. Should any future arrangement be
considered this will be reviewed independently and disclosed appropriately.

Anthony Samaha, current Non-Executive Director, steps down from the board
today to pursue other corporate activities.  The board thanks Anthony for his
assistance and support over the years and wished him well in his new business
activity.

John Gunn Chairman and CEO comments:

"We all at Inspirit Energy welcome Paul to the board and look forward to
working with him. Paul brings a wealth of industry experience with him and
will assist the company with its future strategy.  Furthermore, I would like
to thank Anthony for his support over the years and wish him great success in
his new business venture."

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

More information on Inspirit Energy can be seen at: www.inspirit-energy.com
(http://www.inspirit-energy.com/)

For further information please contact:

 Inspirit Energy Holdings plc
 John Gunn, Chairman and CEO        +44 (0) 207 048 9400

 Beaumont Cornish Limited

 www.beaumontcornish.com

 (Nominated Advisor)
 Roland Cornish / James Biddle      +44 (0) 207 628 3396

 Global Investment Strategy UK Ltd

 (Broker)

 Samantha Esqulant                  +44 (0) 207 048 9045

 

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