Inspirit Energy Holdings PLC Further update on placing and director deal (4824E)
May 08 2017 - 6:20AM
UK Regulatory
TIDMINSP
RNS Number : 4824E
Inspirit Energy Holdings PLC
08 May 2017
8 May 2017
Inspirit Energy Holdings Plc
("Inspirit" or "the Company")
Further update on placing and director deal
Inspirit Energy Holdings plc, the AIM listed developer of micro
combined heat and power (mCHP) boilers, is pleased to announce that
further to its announcement dated 3(rd) May 2017, the Company's
Chairman and Chief Executive Officer has invested a further
GBP35,000 in the Company by subscribing to 28 million Ordinary
Shares at 0.125 pence each.
As a result of the above transaction, John Gunn will hold
398,029,580 Ordinary Shares representing 34 per cent. of the
Company's enlarged issued share capital.
A new application has been made for the previously announced
206,000,000 Ordinary Shares and John Gunn's 28,000,000 Ordinary
Shares, totalling 234,000,000 Ordinary Shares, issued pursuant to
the placing to be admitted to trading on AIM ("Admission") and it
is expected that Admission will occur on or about 16 May 2017. 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 1,170,806,857 Ordinary
Shares. The Company does not hold any shares in treasury. This
figure of 1,170,806,857 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 Guidance and Transparency
Rules.
More information on Inspirit Energy can be seen at:
www.inspirit-energy.com
Contacts:
Inspirit Energy Holdings
plc
John Gunn, Chairman and
CEO +44 (0) 207 048 9400
Stockdale Securities
Limited
(Nominated Advisor and
Joint Broker)
Antonio Bossi / David
Coaten +44 (0) 207 601 6100
Peterhouse Corporate
Finance
(Joint Broker)
Lucy Williams / Duncan
Vasey +44 (0) 207 469 0930
SVS Securities Plc +44 (0) 203 700 0093
(Joint Broker)
Tom Curran
About Inspirit Energy Holdings Plc
Inspirit Energy Holdings plc, is developing and commercialising
a highly efficient micro combined heat and power (mCHP) boiler for
commercial applications. The boiler is specifically designed to
meet the challenge of reduced carbon energy supply and is capable
of running on natural gas, LPG and Bio Fuels. The appliance
produces hot water (for tap water or central heating) and
electrical output simultaneously. The installation can be of single
or multiple configuration and its high operating efficiency
together with the off-set of electricity costs provides a very
attractive investment payback proposition.
Inspirit intends to explore opportunities to license 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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