Issue of Equity

RNS Number : 6953M

Inspirit Energy Holdings PLC

29 August 2013

 



29 August 2013

Inspirit Energy Holdings plc

("Inspirit" or the "Company")

Issue of Equity

Inspirit announces that it has raised £175,000 (gross) through the issue of 13,461,537 new ordinary shares of 0.10p each in the Company ("Placing Shares") at a price of 1.30 pence per Share via direct subscriptions with new investors in the Company (the "Placing").

The Placing Shares rank pari passu with the Company's existing issued ordinary shares and application has been made for the Placing Shares to be admitted to trading on AIM, which is expected to become effective on 5 September 2013 ("Admission").

Following Admission, the total number of issued ordinary shares in the Company will be 492,572,242 ordinary shares. The Company does 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 Conduct Authority's Disclosure and Transparency Rules.

Contacts:
Inspirit Energy Holdings plc	www.inspirit-energy.com
Jubeenh Nazhat, Director/Company Secretary	[phone]
John Gunn, Director	[phone]
Westhouse Securities Limited
Antonio Bossi / Paul Gillam	[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

 

 

IOEBVLLLXVFFBBE