Board Appointment

RNS Number : 8411L

Inspirit Energy Holdings PLC

24 April 2018

 

24 April 2018

Inspirit Energy Holdings Plc

("Inspirit" or "the Company")

Board Appointment

The Company is pleased to announce the appointment of Anthony Samaha (ACA) as a Non-Executive Director with immediate effect. Mr Samaha is also expected to sit on the Company's Audit and Remuneration Committees.

Anthony Samaha is a Chartered Accountant (Australia) who has over 20 years' experience in accounting and corporate finance. Mr Samaha has worked for over 10 years with international accounting firms, including Ernst & Young, principally in corporate finance, gaining significant experience in valuations, IPOs, independent expert reports, and mergers and acquisitions. He has extensive experience in the listing and management of AIM quoted companies, such as Equatorial Palm Oil plc, and Altona Energy Plc and is currently Executive Director of AIM traded Reabold Resources Plc.

John Gunn, Chairman made the following comment:

"I am pleased to welcome Anthony to the Board of Inspirit. Anthony brings independence and public company, including AIM, experience to the Board from his previous roles in a number of organisations. The Board is looking forward to working with Anthony as we look to grow the Company."

Anthony John Samaha (aged 50) has held the following directorships and / or partnerships in the past 5 years:

Current:	Past:
LGC Capital Ltd.	Equatorial Palm Oil Plc
LGC Capital EU OU	Equatorial Biofuels (UK) Limited
Afriag Global Plc	Lobster Harvest Limited
Afriag International Limited	Aquaculture Investments Pty Ltd
Leni Gas Cuba Limited	Leni Gas Holdings Spain SL
Murdoch 1907 Pty Ltd	Sheldon Pty Ltd
Reabold Resources Plc	Cuba Professionals Inc.
Samaha Nominees Pty Ltd
San Tannos Pty Ltd
T.S. Samaha Pty Ltd
Santannos Limited
Innaloo Landowner Pty Ltd

Lobster Harvest Ltd

Lobster Harvest Ltd, an unlisted aquaculture company incorporated in Australia of which Anthony Samaha was a non-executive director, was placed into creditors' voluntary liquidation in March 2012. The company was subsequently dissolved in February 2014. Priority creditors were paid in full. Unsecured creditors, representing primarily the company's largest shareholder, did not receive a dividend.

Mr. Samaha does not currently own any shares or warrants in the Company.  

There is no further information on Mr. Samaha to be disclosed under Schedule Two, paragraph (g) (i) -(viii) of the AIM Rules for Companies.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

More information on Inspirit Energy can be seen at: www.inspirit-energy.com

Contacts:
Inspirit Energy Holdings plc
John Gunn, Chairman and CEO	[phone]
Beaumont Cornish Limited  www.beaumontcornish.com (Nominated Advisor)
Roland Cornish / James Biddle	[phone]
Peterhouse Corporate Finance (Joint Broker)
Lucy Williams / Duncan Vasey	[phone]
SVS  Securities Plc (Joint Broker) Tom Curran	[phone]

About Inspirit Energy Holdings Plc

Inspirit Energy Holdings plc, is developing and commercialising a highly efficient micro combined heat and power (mCHP) boiler for commercial applications. The boiler is specifically designed to meet the challenge of a reduced carbon energy supply and is capable of running on natural gas, LPG and Bio Fuels. The appliance produces hot water (for tap water or central heating) and electrical output simultaneously. The installation can be of single or multiple configuration and its high operating efficiency together with the off-set of electricity costs provides a very attractive investment payback proposition. 

Inspirit intends to explore opportunities to license 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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