Equity Placing

RNS Number : 8240A

Inspirit Energy Holdings PLC

25 February 2014

 



25 February 2014

Inspirit Energy Holdings plc

("Inspirit" or the "Company")

Equity Placing 

Inspirit (AIM: INSP) announces that it has raised £250,000 (gross) through the issue of 11,363,636 new ordinary shares of 0.10p each in the Company ("Placing Shares") at a price of 2.2 pence per Share via direct subscriptions with the Company (the "Placing"). The pricing of this Placing is at a 15.8% premium to yesterday's mid-market closing price.

David Lenigas, the Company's Chairman, commented:

"Yesterday, the Company announced a significant milestone with the signing of a strategic agreement with one of the largest residential care providers in the UK, the Caring Homes Group, to be amongst the first corporate groups to install the Inspirit mCHP boiler-generators. This placing provides additional working capital with minimum dilution to shareholders, with the aim of meeting our objectives of having substantive trials and UK and EU certification completed later in the year."

The Inspirit mCHP boiler-generator:

Inspirit is commercialising its patented high efficiency boiler-generator which is ideally suitable for use in large domestic and small commercial and enterprise applications. The Inspirit micro Combined Heat and Power appliance, the size of a conventional washing machine, is capable of simultaneous generation of up to 15kW thermal and up to 3kW electrical output. This uniquely represents about 3 times the electrical output compared to similar appliances available in the global marketplace.

Placing:

The Placing Shares will rank pari passu with the Company's existing issued ordinary shares and application will be made for the Placing Shares to be admitted to trading on AIM, which is expected to become effective on 3 March 2014 ("Admission").

Following Admission of the Placing Shares, the Company's enlarged issued share capital will comprise 578,131,773 ordinary shares of 0.1 pence each. The Company does not hold any shares in treasury. This figure of 578,131,773 ordinary shares of 0.1 pence each represents the total number of voting rights of the Company and 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information please contact:

Inspirit Energy Holdings plc	www.inspirit-energy.com
David Lenigas, Chairman John Gunn, Executive Director	[phone] [phone]
Jubeenh Nazhat, Director/Company Secretary	[phone]
Westhouse Securities Limited
Antonio Bossi / Paul Gillam	[phone]
Peterhouse Corporate Finance	[phone]
Jon Levinson / Lucy Williams
Public Relations:
Square1 Consulting
David Bick/Mark Longson	[phone]

 

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