Director's Dealing

RNS Number : 1312O

Inspirit Energy Holdings PLC

16 August 2017

 

 16 August 2017

Inspirit Energy Holdings Plc

("Inspirit" or "the Company")

Director's Dealing

Inspirit Energy Holdings plc, the AIM listed developer of micro Combined Heat and Power (microCHP) boilers, announces that, further to the announcement made earlier today relating to a placing to raise a total of £300,000 (the "Placing"), the Company has been informed that John Gunn, a director, has now subscribed for 41,666,666 Ordinary Shares (the "Director's Subscription) on the same terms as the Placing. Both the Placing and the Director's Subscription are conditional on Shareholder approval at a General Meeting scheduled for 11.00am on 6 September 2017.

It is expected that, following the Director's Subscription, John Gunn who is currently interested in 34.0% of the Company's issued share capital will, on completion of the Placing and Director's Subscription, have an interest in the Company of 31.0% the enlarged issued share capital.

Application is being made for the 41,666,666 Director's Shares, to be admitted to trading on AIM ("Admission"), such Admission is expected to occur, subject to approval at the General Meeting, on or around 7 September 2017. On Admission the Placing Shares and Director's Shares will rank pari passu in all respects with the existing ordinary shares of the Company, including the right to receive all dividends and other distributions declared after the date of their issue. 

Following Admission of the Placing Shares and Director's Shares, the Company will then have 1,420,806,857 Ordinary Shares in issue with voting rights and admitted to trading on AIM. This figure may then be used by shareholders in the Company 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, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

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.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail in respect of the Directors' subscribing for Ordinary Shares and Purchasing Warrant Shares as described above. 

John Gunn

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	John Gunn
2	Reason for notification
a)	Position / status	Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer,  emission allowance market participant, auctionplatform, auctioneer or auction monitor
a)	Name	Inspirit Energy plc
b)	LEI	LEI: 2138003WD884IOTL5X04
4	Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (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	41,666,666 Ordinary shares of 0.1 pence each in Inspirit Energy plc ISIN GB00B44W9L31
	Nature of the transaction	Purchase of new ordinary shares as described above
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 0.12pence 41,666,666
d)	Aggregated information	n/a
e)	Date of the transaction	15 August 2017
f)	Place of the transaction	London Stock Exchange, AIM (XLON)

 

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