Placing and director dealings & TVR

Inspirit Energy Holdings PLC

14 November 2023

 

14 November 2023

 Inspirit Energy Holdings plc

("Inspirit Energy", "Inspirit" or the "Company")

Placing and director dealings

Issue of Equity & TVR

Inspirit Energy Holdings plc, the AIM listed developer of micro combined heat and power boilers and waste energy heat recovery, is pleased to announce that it has raised £200,000 through the placing (the "Placing") of 2,000,000,000 ordinary shares of 0.001 pence each in the share capital of the Company ("Ordinary Shares") at 0.01 pence per Ordinary Share (the "Placing Shares") and the proceeds of the fundraise will be used for general working capital purposes.

Director deals

John Gunn, the Company's Chairman and Chief Executive Officer will participate in the Placing by subscribing for 470,000,000 shares and Nilesh Jagatia, the Company's Chief Financial Officer will be subscribing for 20,000,000 shares.   After the Placing, John Gunn will directly and indirectly have a  holding of  1,331,403,363 Ordinary Shares representing an interest of 21.18%  and,  Nilesh Jagatia will have a holding of 64,857,142 Ordinary Shares representing an interest of 1.03% of the enlarged share capital.

Related Party Transactions

The participation in the Placing by John Gunn and Nilesh Jagatia, both Directors of the Company, is classified as a transaction with a related party for the purposes of the AIM Rules. In accordance, therefore, with the AIM Rules, the independent director, being Paul Needley, having consulted with the Company's nominated adviser confirms that the terms of their participation in the Placing are fair and reasonable insofar as shareholders are concerned.

Application will be made for the 2,000,000,000 Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or about 17^th November 2023. The shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.

Total voting rights

Following admission of the Placing Shares, the Company's enlarged issued share capital will comprise 6,287,190,896 Ordinary Shares. The Company does not hold any shares in treasury. This figure of 6,287,190,896 Ordinary Shares 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.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

More information on Inspirit Energy can be seen at: www.inspirit-energy.com

For further information please contact:

Inspirit Energy Holdings plc
John Gunn, Chairman and CEO	[phone]
Beaumont Cornish Limited  www.beaumontcornish.com (Nominated Advisor)
Roland Cornish / James Biddle	[phone]
Global Investment Strategy UK Ltd (Broker) Samantha Esqulant	[phone]

 

END