Further re Acquisition of Inspirit Energy Limited

RNS Number : 1883K

Kleenair Systems International PLC

25 July 2013

 



KLEENAIR SYSTEMS INTERNATIONAL PLC

("KleenAir" or the "Company")

                                                    Further re Acquisition of Inspirit Energy Limited

KleenAir (AIM:KSI) is pleased to announce that following approval of the Resolutions by Shareholders at the General Meeting held on 23 July 2013, the completion of the Acquisition of Inspirit Energy Limited is expected to complete tomorrow at 8.00 a.m. The Company is pleased to announce also that it has changed its name to Inspirit Energy Holdings plc.

The Company's new ticker will be INSP and the ISIN will remain unchanged: GB00B44W9L31.  

Information required by AIM Rule 26 will be available on the Company's new website at www.inspirit-energy.com with effect from Admission.

Application has been made for admission to trading on AIM of 477,860,705 Ordinary Shares comprising 73,139,505 Existing Ordinary Shares and 404,721,200 New Ordinary Shares and trading in the Enlarged Share Capital is expected to commence at 8.00 a.m. tomorrow, under the Company's new name, Inspirit Energy Holdings plc.

Total Voting Rights

Following Completion and Admission of the Enlarged Share Capital to AIM, the Company's total issued share capital and total voting rights will consist of 477,860,705 Ordinary Shares. The Company will not hold any Ordinary Shares in treasury. This figure 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 to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

Defined terms in this announcement should be taken to have the same meaning as set out in the circular which was posted to shareholders on 1 July 2013.

Contacts:
Kleenair Systems International plc	www.kleenair-systems.co.uk
Jubeenh Nazhat, Director/Company Secretary	[phone]
John Gunn, Director	[phone]
Westhouse Securities Limited
Antonio Bossi / Jonathan Haines	[phone]

Notes to the Editor

Inspirit, a company based in Sheffield, is currently developing a micro combined heat and power appliance for the commercial and residential markets. The Appliance is powered by natural gas and designed to produce hot water (for tap water or central heating) and electrical output simultaneously. Once proven, Inspirit intends to explore opportunities to licence 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. 

 

END

 

 

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