Appointment of Joint Broker and Issue of Equity

RNS Number : 2082L

Inspirit Energy Holdings PLC

08 August 2013

 



Inspirit Energy Holdings plc

("Inspirit" or the "Company")

                                      Appointment of Joint Broker and Issue of Equity

Inspirit (AIM:INSP), is pleased to announce that it has appointed Peterhouse Corporate Finance Limited as joint Broker with immediate effect.

In addition, the Company has issued 1,250,000 new ordinary shares of 0.1 pence each in the Company (the "New Ordinary Shares") to Ascend Capital plc as payment for services. Application has been made for the New Ordinary Shares to be admitted to AIM, which is expected to become effective on 9 August 2013

Following admission of the New Ordinary Shares, the total number of issued ordinary shares will be 479,110,705 ordinary shares. The Company does not hold any ordinary shares in treasury. This figure 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 to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Contacts:
Inspirit Energy Holdings plc	www.inspirit-energy.com
Jubeenh Nazhat, Director/Company Secretary	[phone]
John Gunn, Director	[phone]
Westhouse Securities Limited
Antonio Bossi / Paul Gillam	[phone]

Notes to the Editor

Inspirit, a company based in Sheffield, is currently developing a micro combined heat and power appliance for the commercial and residential markets. The Appliance is powered by natural gas and designed to produce hot water (for tap water or central heating) and electrical output simultaneously. Once proven, Inspirit intends to explore opportunities to licence out the underlying technology and the Directors believe that in some instances, the patents owned by Inspirit may be also used in the development of products other than a mCHP appliance. A prototype of the Appliance has been independently tested and shown to be capable of simultaneous generation of up to 15kW thermal and up to 3kW electrical output. Once development of the Appliance has been completed and commercialised, the Directors expect that the Appliance will initially be marketed in the UK and Europe and eventually worldwide. Additional revenue streams may be possible through product licensing, sales of warranties and further development of the product. 

 

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