REG - Inspirit Energy Hlds - Placing and director dealings & TVR

Inspirit Energy HoldingsAnnouncement

14/11/2023 07:15

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RNS Number : 3005T  Inspirit Energy Holdings PLC  14 November 2023

14 November 2023

 Inspirit Energy Holdings plc

("Inspirit Energy", "Inspirit" or the "Company")

Placing and director dealings

Issue of Equity & TVR

 

 

Inspirit Energy Holdings plc, the AIM listed developer of micro combined heat
and power boilers and waste energy heat recovery, is pleased to announce that
it has raised £200,000 through the placing (the "Placing") of 2,000,000,000
ordinary shares of 0.001 pence each in the share capital of the Company
("Ordinary Shares") at 0.01 pence per Ordinary Share (the "Placing Shares")
and the proceeds of the fundraise will be used for general working capital
purposes.

 

 

Director deals

 

John Gunn, the Company's Chairman and Chief Executive Officer will participate
in the Placing by subscribing for 470,000,000 shares and Nilesh Jagatia, the
Company's Chief Financial Officer will be subscribing for 20,000,000 shares.
  After the Placing, John Gunn will directly and indirectly have a  holding
of  1,331,403,363 Ordinary Shares representing an interest of 21.18%  and,
Nilesh Jagatia will have a holding of 64,857,142 Ordinary Shares representing
an interest of 1.03% of the enlarged share capital.

 

 

Related Party Transactions

 

The participation in the Placing by John Gunn and Nilesh Jagatia, both
Directors of the Company, is classified as a transaction with a related party
for the purposes of the AIM Rules. In accordance, therefore, with the AIM
Rules, the independent director, being Paul Needley, having consulted with the
Company's nominated adviser confirms that the terms of their participation in
the Placing are fair and reasonable insofar as shareholders are concerned.

 

Application will be made for the 2,000,000,000 Ordinary Shares to be admitted
to trading on AIM ("Admission") and it is expected that Admission will occur
on or about 17(th) November 2023. The shares will rank pari passu in all
respects with the existing Ordinary Shares of the Company.

 

Total voting rights

 

Following admission of the Placing Shares, the Company's enlarged issued share
capital will comprise 6,287,190,896 Ordinary Shares. The Company does not hold
any shares in treasury. This figure of 6,287,190,896 Ordinary Shares may be
used by shareholders in the Company as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change in their interest in, the share capital of the Company under the
FCA's Disclosure and Transparency Rules.

 

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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