Board Changes

RNS Number : 7200P

Inspirit Energy Holdings PLC

13 February 2023

 

13 February 2023

Inspirit Energy Holdings Plc

("Inspirit" or "the Company")

Board Changes

Inspirit (AIM: INSP) is pleased to announce that Paul Needley has been appointed independent Non-Executive Director with immediate effect.

Paul is an experienced Managing Director and Chartered Engineer with a proven record of building a company based on strong values, reliability, and loyalty to clients, employees and the gas, oil and renewable appliance industries in which it operates. Paul is currently the Managing Director of Enertek International Ltd ("Enertek"), one of the UK's largest independent engineering R&D consultancies specialising in the design, development and certification of energy consuming products. Enertek's clients include major multinational corporations and government bodies, SME's, independent organisations and sole traders. The company operates as an extension or alternative to in-house R&D departments and specialises in the design for manufacture, development and certification of products. The company operates worldwide, hence Paul as a good insight into the feasibility, development, commercialisation and productionisation of new products and technologies. Paul is a Chartered Engineer, a Fellow of the Institution of Mechanical Engineers and a Fellow of the Energy Institute.

Paul Allen Needley (aged 60) is or has during the last five years been a director or partner of the following companies and partnerships:

Current:	Past:
Enertek International Ltd	Enertek International GMBH
Enertek R&D Group Limited
Enertek Design Limited
Enertek Developments Limited
H2 Fires Limited

Other than as disclosed above, there are no further disclosures to be made in accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.

As per the Company announcement of 2 November 2021, early-stage discussions were held with Enertek regarding assisting Inspirit in developing the potential for the Inspirit Charger to become hydrogen powered backwards compatible. Given the Company's focus on its ongoing work with Volvo marine engines, these discussions have not progressed and given Paul's appointment to the Board are now not expected to continue. Should any future arrangement be considered this will be reviewed independently and disclosed appropriately.

Anthony Samaha, current Non-Executive Director, steps down from the board today to pursue other corporate activities.  The board thanks Anthony for his assistance and support over the years and wished him well in his new business activity.

John Gunn Chairman and CEO comments:

"We all at Inspirit Energy welcome Paul to the board and look forward to working with him. Paul brings a wealth of industry experience with him and will assist the company with its future strategy.  Furthermore, I would like to thank Anthony for his support over the years and wish him great success in his new business venture."

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	[phone]
Beaumont Cornish Limited  www.beaumontcornish.com (Nominated Advisor)
Roland Cornish / James Biddle	[phone]
Global Investment Strategy UK Ltd (Broker) Samantha Esqulant	[phone]

 

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