TIDMINSP
RNS Number : 4432U
Inspirit Energy Holdings PLC
25 November 2019
25 November 2019
Inspirit Energy Holdings Plc
("Inspirit" or "the Company")
Loan Note conversion
Director's Dealing
Inspirit Energy Holdings PLC (AIM: INSP), the developer of micro
Combined Heat and Power ("microCHP" or "mCHP") boilers, announces
that on Thursday 20(th) November 2019 it received Loan Conversation
notices for GBP804,000 on the Convertible Loan Notes (CLN's) and
GBP41,000 Loan Notes will remain outstanding.
Background
On 4(th) May 2018, the Company announced that it had raised
GBP530,000 in cash from private investors and retired existing debt
due to Related Parties and other debt (as further detailed below)
valued at GBP315,000 into the CLNs; thereby issuing a total of
GBP845,000 of CLN's. The CLNs are convertible at the higher of
either 0.07 p per Ordinary Share of 0.001p each (the "Ordinary
Shares" or "Existing Ordinary Shares") or a discount of 25 per
cent. to the previous trading day's closing mid-market share price
(0.09p). Accordingly, the Company is now issuing 1,148,571,422
Ordinary Shares at a price of 0.07p per Ordinary Share.
Application has been made for the 1,148,571,422 Ordinary Shares
to be admitted to trading on AIM ("Admission") and it is expected
that Admission will occur on or about 29 November 2019. The shares
will rank pari passu in all respects with the existing Ordinary
Shares of the Company.
Director dealings
As a result of the above transaction, Chairman and CEO, John
Gunn, will be issued 142,857,142 Ordinary Shares and will,
following Admission, have a direct and indirect interest (via
Global Investment Strategy UK Ltd) in 796,687,374 Ordinary Shares
representing 28% per cent. of the Company's enlarged issued share
capital. Nilesh Jagatia, Finance Director, will be issued
28,571,428 Ordinary Shares and will, following Admission, have a
direct interest in 30,571,428 Ordinary Shares representing 1.1 per
cent. of the Company's enlarged issued share capital.
Total voting rights
Following admission of the Placing Shares, the Company's
enlarged issued share capital will comprise 2,845,211,610 Ordinary
Shares. The Company does not hold any shares in treasury. This
figure 2,845,211,610 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.
John Gunn, Executive Chairman and CEO of Inspirit,
commented,
"We have had several enquires as to the loan notes and with
these loan notes now converted, the Company has substantially
reduced its debt close to zero. The board would like to thank the
loan note holders for their commitment and support. With our recent
engineering progress and opportunity to tap into other markets, we
hope that this reduction in debt will provide the right base from
which the business can now grow."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
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 +44 (0) 207 048 9400
Beaumont Cornish Limited
www.beaumontcornish.com
(Nominated Advisor)
Roland Cornish / James Biddle +44 (0) 207 628 3396
Global Investment Strategy UK
Ltd
(Broker)
Samantha Esqulant +44 (0) 207 048 9045
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 a 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 tested and shown to be capable of
simultaneous generation of up to 15kW thermal and up to 6.4kW
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.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail in
respect of the Directors' subscribing for Ordinary Shares and
Purchasing Warrant Shares as described above.
John Gunn
1 Details of the person discharging managerial responsibilities /
person closely associated
a) Name John Gunn
-------------------------------------------- -----------------------------------
2 Reason for notification
-----------------------------------------------------------------------------------
a) Position / status Director
-------------------------------------------- -----------------------------------
b) Initial notification Initial
/Amendment
-------------------------------------------- -----------------------------------
3 Details of the issuer, emission allowance market participant, auctionplatform,
auctioneer or auction monitor
-----------------------------------------------------------------------------------
a) Name Inspirit Energy Holdings plc
-------------------------------------------- -----------------------------------
b) LEI LEI: 2138003WD884IOTL5X04
-------------------------------------------- -----------------------------------
4 Details of the transaction(s): section to be repeated for (i) each
type ofinstrument; (ii) each type of transaction; (iii) each date;
and (iv) each place where transactions have been conducted
-----------------------------------------------------------------------------------
a) Description of the financial instrument, 142,857,142 Ordinary shares
type of instrument of 0.001 pence each in Inspirit
Energy Holdings plc
Identification code
ISIN GB00B44W9L31
-------------------------------------------- -----------------------------------
Nature of the transaction Retirement of debt
-------------------------------------------- -----------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0.07pence 142,857,142
------------
-------------------------------------------- -----------------------------------
d) Aggregated information n/a
-------------------------------------------- -----------------------------------
e) Date of the transaction 25 November 2019
-------------------------------------------- -----------------------------------
f) Place of the transaction London Stock Exchange, AIM (XLON)
-------------------------------------------- -----------------------------------
Nilesh Jagatia
1 Details of the person discharging managerial responsibilities /
person closely associated
a) Name Nilesh Jagatia
-------------------------------------------- -----------------------------------
2 Reason for notification
---------------------------------------------------------------------------------
a) Position / status Director
-------------------------------------------- -----------------------------------
b) Initial notification Initial
/Amendment
-------------------------------------------- -----------------------------------
3 Details of the issuer, emission allowance market participant, auctionplatform,
auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name Inspirit Energy Holdings plc
-------------------------------------------- -----------------------------------
b) LEI LEI: 2138003WD884IOTL5X04
-------------------------------------------- -----------------------------------
4 Details of the transaction(s): section to be repeated for (i) each
type ofinstrument; (ii) each type of transaction; (iii) each date;
and (iv) each place where transactions have been conducted
---------------------------------------------------------------------------------
a) Description of the financial instrument, 28,571,428 Ordinary shares of
type of instrument 0.001 pence each in Inspirit
Energy plc
Identification code
ISIN GB00B44W9L31
-------------------------------------------- -----------------------------------
Nature of the transaction Retirement of debt
-------------------------------------------- -----------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0.07 28,571,428
-----------
-------------------------------------------- -----------------------------------
d) Aggregated information n/a
-------------------------------------------- -----------------------------------
e) Date of the transaction 25 November 2019
-------------------------------------------- -----------------------------------
f) Place of the transaction London Stock Exchange, AIM (XLON)
-------------------------------------------- -----------------------------------
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
MSCBJBMTMBITTML
(END) Dow Jones Newswires
November 25, 2019 02:00 ET (07:00 GMT)
Inspirit Energy (LSE:INSP)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Inspirit Energy (LSE:INSP)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
