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

+44 (0) 1772 689250

 

Shore Capital (Nominated Adviser and Joint Broker)

Advisory

Edward Mansfield / James Thomas / Michael McGloin

 

Broking

Malachy McEntyre

 +44 (0) 20 7408 4090

 

 

Peel Hunt LLP (Joint Broker)

Mike Bell / Ed Allsopp

 

+44 (0) 20 7418 8900

Alma PR

Justine James / David Ison / Molly Gretton

 

+44 (0) 20 3405 0205

+44 (0) 7525 324431

inspired@almapr.co.uk



 



 

 

 

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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