Director Shareholding

RNS Number : 0729K

Inspirit Energy Holdings PLC

16 September 2016

 

16 September 2016

Inspirit Energy Holdings plc

("Inspirit" or the "Company")

Director Dealings

Inspirit (AIM: INSP) announces that it was informed that John Gunn, the Company's Chief Executive Officer, has today purchased 4,000,000 ordinary shares of 0.1p each in the Company ("Ordinary Shares") at an average price of approximately 0.263p per share. This purchase takes Mr Gunn's total holding to 374,029,580 Ordinary Shares, representing 39.9% of the Company's issued share capital.

For further information, please contact:

Contacts:
Inspirit Energy Holdings plc	www.inspirit-energy.com
John Gunn, Chairman and CEO	[phone]
Nilesh Jagatia CFO	[phone]
Stockdale Securities Limited (Nominated Advisor and Joint Broker)
Antonio Bossi / David Coaten	[phone]
Peterhouse Corporate Finance (Joint Broker)
Lucy Williams / Duncan Vasey	[phone]
Cadogan Leander (Financial Public Relations)
Christian Taylor-Wilkinson / Alex Walters	[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 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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