INSP.L

Inspirit Energy Holdings Plc
Inspirit Energy Hlds - Placing and director dealings, Issue of Equity
28th May 2024, 14:51
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RNS Number : 1448Q
Inspirit Energy Holdings PLC
28 May 2024
 

28th May 2024

 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 engines ("WHR"), is pleased to announce that it has raised £235,000 through the placing (the "Placing") of 1,958,333,334 ordinary shares of 0.001 pence each in the share capital of the Company ("Ordinary Shares") at 0.012 pence per Ordinary Share (the "Placing Shares") with the proceeds of the fundraise to be used for work on finalising development of the WHR engine and general working capital purposes.

 

 

Director dealings

 

John Gunn, the Company's Chairman and Chief Executive Officer will participate in the Placing by subscribing for 416,666,667 shares and Nilesh Jagatia, the Company's Chief Financial Officer, will be subscribing for 41,666,667 shares. After the Placing, John Gunn will directly and indirectly have a  holding of  1,748,070,030 Ordinary Shares representing an interest of 21.20%  and,  Nilesh Jagatia will have a holding of 106,523,809 Ordinary Shares representing an interest of 1.29% of the enlarged issued share capital. John Gunn's shares as held as follows: 203,421,382 through GIS in which John Gunn has a majority interest and 1,544,648,648 directly in his own name.

 

 

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 1,958,333,334 Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or about 4 June 2024. 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 8,245,524,230 Ordinary Shares. The Company does not hold any shares in treasury. This figure of 8,245,524,230 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

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

 

 

John Gunn

 

1

Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated

a)

Name

John Gunn

2

Reason for notification

a)

Position / status

Director

 

b)

Initial notification

/Amendment

Initial

3

Details of the issuer,  emission allowance market participant, auctionplatform, auctioneer or auction monitor

a)

Name

Inspirit Energy Holdings  plc

 

b)

LEI

LEI: 2138003WD884IOTL5X04

 

 

4

Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description  of  the financial instrument, type of instrument

 

Identification code

Ordinary shares of 0.001 pence each in Inspirit Energy Holdings  plc

 

 

ISIN GB00B44W9L31

 


Nature of the transaction

Acquisition of Ordinary Shares

 

c)

Price(s) and volumes(s)

 

Price(s)

Volumes(s)

0.012 pence

416,666,667

 

 

d)

Aggregated information

n/a

e)

Date of the transaction

28/5/2024

f)

Place of the transaction

London Stock Exchange, AIM (XLON)

 

Nilesh Jagatia

 

1

Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated

a)

Name

Nilesh Jagatia

2

Reason for notification

a)

Position / status

Director

 

b)

Initial notification

/Amendment

Initial

3

Details of the issuer,  emission allowance market participant, auctionplatform, auctioneer or auction monitor

a)

Name

Inspirit Energy Holdings  plc

 

b)

LEI

LEI: 2138003WD884IOTL5X04

 

 

4

Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description  of  the financial instrument, type of instrument

 

Identification code

Ordinary shares of 0.001 pence each in Inspirit Energy Holdings  plc

 

 

ISIN GB00B44W9L31

 


Nature of the transaction

Acquisition of Ordinary Shares

 

c)

Price(s) and volumes(s)

 

Price(s)

Volumes(s)

0.012 pence

41,666,667

 

 

d)

Aggregated information

n/a

e)

Date of the transaction

28/5/2024

f)

Place of the transaction

London Stock Exchange, AIM (XLON)

 

 

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