Inspirit Energy Holdings PLC Result of General Meeting (5092Q)
June 06 2018 - 5:44AM
UK Regulatory
TIDMINSP
RNS Number : 5092Q
Inspirit Energy Holdings PLC
06 June 2018
6 June 2018
Inspirit Energy Holdings PLC
("Inspirit Energy" or "the Company)
Result of General Meeting
Completion of Capital Reorganisation
Inspirit Energy Holdings PLC (AIM: INSP), the developer of micro
Combined Heat and Power (microCHP) boiler, announces that, at its
General Meeting (the "GM") to seek approval for (i) the Capital
Reorganisation that will allow for the issue of the New Ordinary
Shares to be issued on conversion of the Convertible Loan Notes
(the "CLN's") and (ii) a general authority to allow the Directors
to issue a further 650,000,000 New Ordinary Shares held earlier
today all resolutions were passed.
The Capital Reorganisation, which comprises a sub-division of
shares has been structured so that each New Ordinary Share created
pursuant to the Capital Reorganisation shall have a nominal value
of 0.001 pence.
The number of Ordinary Shares in issue, and held by each
Shareholder, as a result of the passing of the relevant resolutions
will not change. It is simply the nominal value of the Existing
Ordinary Shares which will change.
Details of the Capital Reorganisation
Each Existing Ordinary Share of 0.1 pence each in the capital of
the Company has been sub-divided into 1 New Ordinary Shares of
0.001 pence each and 1 B Deferred Share of 0.099 pence each
("Capital Reorganisation"). This results in 1,420,806,859 New
Ordinary Shares and 1,420,806,859 B Deferred Shares now in
issue.
The B Deferred Shares have no rights and the Company will not
issue any share certificates or credit CREST accounts in respect of
them.
Admission of the New Ordinary Shares
Application has been made for the New Ordinary Shares to be
admitted to trading on AIM in place of the Existing Ordinary
Shares. It is expected that Admission will become effective and
that dealings in the New Ordinary Shares will commence on 7 June
2018.
The ISIN and SEDOL in respect of the previous Ordinary Shares
remain unchanged in respect of the New Ordinary Shares.
CLN: Use of funds
As previously announced, the funds from the loan notes will be
used for the following:
-- Continued certification of the microCHP boiler;
-- Commercial trials of the microCHP boiler;
-- General working capital; and
-- Potentially to make investments in complementary areas that
will utilise the Company's existing technical expertise.
NOTE: the total shares in issue is now 1,420,806,859 New
Ordinary Shares. This differs by 2 shares to the previously
announced total shares in issue of 1,420,806,857 Ordinary Shares
and results from a previous transposition error. Shareholders
should use 1,420,806,859 Ordinary Shares as the shares now in
issue.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
-ends-
For further information please contact:
Inspirit Energy Holdings plc
John Gunn, Chairman and CEO +44 (0) 207 048 9400
Beaumont Cornish Limited
www.beaumontcornish.com
(Nominated Advisor)
Roland Cornish / James Biddle +44 (0) 207 628 3396
Peterhouse Corporate Finance
(Joint Broker)
Lucy Williams / Duncan Vasey +44 (0) 207 469 0930
SHARE INFORMATION
Total number of New Ordinary
Shares in issue following the
Capital Reorganisation 1,420,806,859
Total number of B Deferred
Shares in issue following the
Capital Reorganisation 1,420,806,859
ISIN code for New Ordinary GB00B44W9L31
Shares (unchanged)
TIDM code for AIM INSP
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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June 06, 2018 06:44 ET (10:44 GMT)
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