Placing

RNS Number : 9591Z

Inspirit Energy Holdings PLC

27 May 2021

 

27 May 2021

Inspirit Energy Holdings PLC

("Inspirit" or the "Company")

Placing

Inspirit Energy Holdings plc, the AIM listed developer of waste heat recycling, is pleased to announce that it has raised a gross amount of £500,000 through the placing (the "Placing") of 1,000,000,000 ordinary shares of 0.001 pence each in the share capital of the Company ("Ordinary Shares") at 0.05 pence per Ordinary Share (the "Placing Shares"). For every two Placing Shares they subscribed to, placees will also receive one warrant over Ordinary Shares ("Warrant") valid for 24 months from the date of issue exercisable at 0.075 pence per Ordinary Share. 

The funds raised will allow the Company to progress with the various projects in development, including the Volvo marine waste heat recovery application announced in November 2020, as well as providing working capital for the Company's continuing development.

Application will be made for the 1,000,000,000 Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or about 3rd June 2021. 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 4,271,640,186 Ordinary Shares. The Company does not hold any shares in treasury. This figure of 4,271,640,186 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]

 

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