Issue of Equity and PDMR dealing

RNS Number : 4382F

Inspired PLC

16 July 2021

 

16 July 2021

Inspired PLC

("Inspired " or the "Group")

Issue of Equity and PDMR dealing

Inspired (AIM: INSE), the leading consultant for energy procurement, utility cost optimisation and legislative compliance in the UK and Ireland , announces that Mark Dickinson (CEO) and Paul Connor (CFO) (together the "Executives") have exercised in aggregate 7,920,000 shares under the Group's 2017 Long Term Incentive Plan ("LTIP") and Paul Connor has exercised a further 560,000 options under the company Share Options Scheme. Of the shares and Options exercised the Executives have sold in aggregate 6,650,345 ordinary shares of 0.125p each ("Ordinary Shares") at a price of 19.0 pence per Ordinary Share, as a result of strong institutional demand . A substantial portion of the proceeds were applied to fund the cost of exercise and tax and NIC including employers NIC due as a result of the exercise.

As a result, the Executives have increased their shareholding in the Group, in aggregate, by 1,829,655 Ordinary Shares. Mark Dickinson has increased his interest to 2,539,310 Ordinary Shares and Paul Connor to 1,000,000 Ordinary Shares.

Details of the transaction are as follows:

Name	Ordinary Shares held	Ordinary Shares transferred from Inspired EBT pursuant to the exercise	New Ordinary Shares issued pursuant to the exercise	Ordinary Shares sold (note 2/3)	Resultant holding		Number of outstanding options held (note 4)
					Shares	% of issued share capital (note 1)
Mark Dickinson	1,269,655	4,785,000	-	3,515,345	2,539,310	0.26%	5,095,000
Paul Connor	440,000	3,135,000	560,000	3,135,000	1,000,000	0.10%	6,315,000
Total	1,709,655	7,920,000	560,000	6,650,345	3,539,310	0.36%	11,407,000

Note:

1.  Issued share capital as enlarged by the issue of 560,000 new Ordinary Shares

2.  Mark Dickinson sold 3,515,345 Ordinary Shares, of which 1,551,801 were sold to fund the cost of exercise and tax, including employers NI to enable the purchase of 1,269,655 Ordinary Shares. The sale of the balance of 1,963,544 Ordinary Shares was subject to income tax including employers NIC (resulting in an effective 55% tax rate).

3.  Paul Connor sold 3,135,000 Ordinary Shares, of which 742,500 were sold to fund the cost of exercise of 560,000 share options granted under the Group's Share Option Scheme in April 2015 at an exercise price of 11.25p. The sale of the balance of 2,392,500 Ordinary Shares were subject to income tax including employers NIC (resulting in an effective 55% tax rate).

4.  In respect of the outstanding options 1,500,000 options remain unvested for Mark Dickinson and 950,000 options for Paul Connor. These options are all due to vest subject to FY21 performance.

Full details as required under the Market Abuse Regulation are set out below.

Admission of Ordinary Shares and total voting rights

The Group announces that it has made an application to the London Stock Exchange for the admission to trading on AIM of 560,000 new Ordinary Shares to satisfy the exercise of options under the Group's Share Options Scheme. The new Ordinary Shares are expected to be admitted to trading on AIM on 22 July 2021.

Following this admission, the Group's share capital and total voting rights comprises 973,787,427 Ordinary Shares and the Group does not hold any shares in treasury. Consequently, 973,787,427 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 Mark Dickinson (Chief Executive Officer) Paul Connor (Chief Financial Officer)	www.inspiredplc.co.uk [phone]
Shore Capital (Nominated Adviser and Joint Broker) Advisory Edward Mansfield / James Thomas / Michael McGloin Broking Malachy McEntyre	[phone]
Peel Hunt LLP (Joint Broker) Mike Bell / Ed Allsopp	[phone]
Alma PR Justine James / David Ison / Molly Gretton	[phone] [phone] [e-mail]

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mark Dickinson
2	Reason for the notification
a)	Position/status	CEO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Inspired PLC
b)	LEI	2138009UAKLCYEQPM829
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (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 0.125p each in Inspired PLC GB00B5TZC716.
b)	Nature of the transaction	Sale of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 1 9.0 p 3,515,345
d)	Aggregated information - Aggregated volume - Price	N/A (single transaction)
e)	Date of the transaction	15 July 2021
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Paul Connor
2	Reason for the notification
a)	Position/status	CFO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Inspired PLC
b)	LEI	2138009UAKLCYEQPM829
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (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 0.125p each in Inspired PLC GB00B5TZC716.
b)	Nature of the transaction	Sale of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 1 9.0 p 3,135,000
d)	Aggregated information - Aggregated volume - Price	N/A (single transaction)
e)	Date of the transaction	15 July 2021
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

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