TIDMINSE

RNS Number : 4382F

Inspired PLC

16 July 2021

16 July 2021

Inspired PLC

("Inspired " or the "Group")

Issue of Equity and PDMR dealing

Inspired (AIM: INSE), the leading consultant for energy procurement, utility cost optimisation and legislative compliance in the UK and Ireland , announces that Mark Dickinson (CEO) and Paul Connor (CFO) (together the "Executives") have exercised in aggregate 7,920,000 shares under the Group's 2017 Long Term Incentive Plan ("LTIP") and Paul Connor has exercised a further 560,000 options under the company Share Options Scheme. Of the shares and Options exercised the Executives have sold in aggregate 6,650,345 ordinary shares of 0.125p each ("Ordinary Shares") at a price of 19.0 pence per Ordinary Share, as a result of strong institutional demand . A substantial portion of the proceeds were applied to fund the cost of exercise and tax and NIC including employers NIC due as a result of the exercise.

As a result, the Executives have increased their shareholding in the Group, in aggregate, by 1,829,655 Ordinary Shares. Mark Dickinson has increased his interest to 2,539,310 Ordinary Shares and Paul Connor to 1,000,000 Ordinary Shares.

Details of the transaction are as follows:

 
      Name          Ordinary        Ordinary     New Ordinary     Ordinary        Resultant holding        Number of 
                   Shares held       Shares         Shares      Shares sold                               outstanding 
                                  transferred       issued       (note 2/3)                               options held 
                                      from       pursuant to                                                (note 4) 
                                  Inspired EBT   the exercise 
                                  pursuant to 
                                  the exercise 
                                                                                Shares     % of issued 
                                                                                              share 
                                                                                             capital 
                                                                                             (note 1) 
                                                -------------                 ----------  ------------- 
 Mark Dickinson       1,269,655      4,785,000              -      3,515,345   2,539,310          0.26%      5,095,000 
                 --------------  -------------  -------------  -------------  ----------  -------------  ------------- 
 Paul Connor            440,000      3,135,000        560,000      3,135,000   1,000,000          0.10%      6,315,000 
                 --------------  -------------  -------------  -------------  ----------  -------------  ------------- 
 
 Total                1,709,655      7,920,000        560,000      6,650,345   3,539,310          0.36%     11,407,000 
                 --------------  -------------  -------------  -------------  ----------  -------------  ------------- 
 

Note:

   1.     Issued share capital as enlarged by the issue of 560,000 new Ordinary Shares 

2. Mark Dickinson sold 3,515,345 Ordinary Shares, of which 1,551,801 were sold to fund the cost of exercise and tax, including employers NI to enable the purchase of 1,269,655 Ordinary Shares. The sale of the balance of 1,963,544 Ordinary Shares was subject to income tax including employers NIC (resulting in an effective 55% tax rate).

3. Paul Connor sold 3,135,000 Ordinary Shares, of which 742,500 were sold to fund the cost of exercise of 560,000 share options granted under the Group's Share Option Scheme in April 2015 at an exercise price of 11.25p. The sale of the balance of 2,392,500 Ordinary Shares were subject to income tax including employers NIC (resulting in an effective 55% tax rate).

4. In respect of the outstanding options 1,500,000 options remain unvested for Mark Dickinson and 950,000 options for Paul Connor. These options are all due to vest subject to FY21 performance.

Full details as required under the Market Abuse Regulation are set out below.

Admission of Ordinary Shares and total voting rights

The Group announces that it has made an application to the London Stock Exchange for the admission to trading on AIM of 560,000 new Ordinary Shares to satisfy the exercise of options under the Group's Share Options Scheme. The new Ordinary Shares are expected to be admitted to trading on AIM on 22 July 2021.

Following this admission, the Group's share capital and total voting rights comprises 973,787,427 Ordinary Shares and the Group does not hold any shares in treasury. Consequently, 973,787,427 is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, Inspired under the FCA's Disclosure and Transparency Rules.

Enquiries please contact:

 
Inspired PLC                                  www.inspiredplc.co.uk 
 Mark Dickinson (Chief Executive Officer)      +44 (0) 1772 689250 
 Paul Connor (Chief Financial Officer) 
Shore Capital (Nominated Adviser and 
 Joint Broker) 
 Advisory 
 Edward Mansfield / James Thomas / Michael 
 McGloin 
 
 Broking 
 Malachy McEntyre                              +44 (0) 20 7408 4090 
 
  Peel Hunt LLP (Joint Broker) 
  Mike Bell / Ed Allsopp                      +44 (0) 20 7418 8900 
Alma PR                                       +44 (0) 20 3405 0205 
 Justine James / David Ison / Molly Gretton    +44 (0) 7525 324431 
                                               inspired@almapr.co.uk 
 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                          Mark Dickinson 
     ----------------------------  ------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------- 
 a)   Position/status               CEO 
     ----------------------------  ------------------------------------- 
 b)   Initial notification          Initial notification 
       /Amendment 
     ----------------------------  ------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                          Inspired PLC 
     ----------------------------  ------------------------------------- 
 b)   LEI                           2138009UAKLCYEQPM829 
     ----------------------------  ------------------------------------- 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ------------------------------------------------------------------- 
 a)   Description of the 
       financial instrument,          Ordinary shares of 0.125p each in 
       type of instrument             Inspired PLC 
 
       Identification code            GB00B5TZC716. 
     ----------------------------  ------------------------------------- 
 b)   Nature of the transaction     Sale of shares 
     ----------------------------  ------------------------------------- 
 c)   Price(s) and volume(s)          Price(s)   Volume(s) 
                                       1 9.0 p    3,515,345 
                                                 ---------- 
     ----------------------------  ------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume 
       - Price                        N/A (single transaction) 
     ----------------------------  ------------------------------------- 
 e)   Date of the transaction       15 July 2021 
     ----------------------------  ------------------------------------- 
 f)   Place of the transaction      London Stock Exchange, AIM Market 
                                     (XLON) 
     ----------------------------  ------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                          Paul Connor 
     ----------------------------  ------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------- 
 a)   Position/status               CFO 
     ----------------------------  ------------------------------------- 
 b)   Initial notification          Initial notification 
       /Amendment 
     ----------------------------  ------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                          Inspired PLC 
     ----------------------------  ------------------------------------- 
 b)   LEI                           2138009UAKLCYEQPM829 
     ----------------------------  ------------------------------------- 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ------------------------------------------------------------------- 
 a)   Description of the 
       financial instrument,          Ordinary shares of 0.125p each in 
       type of instrument             Inspired PLC 
 
       Identification code            GB00B5TZC716. 
     ----------------------------  ------------------------------------- 
 b)   Nature of the transaction     Sale of shares 
     ----------------------------  ------------------------------------- 
 c)   Price(s) and volume(s)          Price(s)   Volume(s) 
                                       1 9.0 p    3,135,000 
                                                 ---------- 
     ----------------------------  ------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume 
       - Price                        N/A (single transaction) 
     ----------------------------  ------------------------------------- 
 e)   Date of the transaction       15 July 2021 
     ----------------------------  ------------------------------------- 
 f)   Place of the transaction      London Stock Exchange, AIM Market 
                                     (XLON) 
     ----------------------------  ------------------------------------- 
 

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END

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July 16, 2021 02:00 ET (06:00 GMT)

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