Inspirit Energy Holdings PLC Director's Dealing (1312O)
16 August 2017 - 5:37PM
UK Regulatory
TIDMINSP
RNS Number : 1312O
Inspirit Energy Holdings PLC
16 August 2017
16 August 2017
Inspirit Energy Holdings Plc
("Inspirit" or "the Company")
Director's Dealing
Inspirit Energy Holdings plc, the AIM listed developer of micro
Combined Heat and Power (microCHP) boilers, announces that, further
to the announcement made earlier today relating to a placing to
raise a total of GBP300,000 (the "Placing"), the Company has been
informed that John Gunn, a director, has now subscribed for
41,666,666 Ordinary Shares (the "Director's Subscription) on the
same terms as the Placing. Both the Placing and the Director's
Subscription are conditional on Shareholder approval at a General
Meeting scheduled for 11.00am on 6 September 2017.
It is expected that, following the Director's Subscription, John
Gunn who is currently interested in 34.0% of the Company's issued
share capital will, on completion of the Placing and Director's
Subscription, have an interest in the Company of 31.0% the enlarged
issued share capital.
Application is being made for the 41,666,666 Director's Shares,
to be admitted to trading on AIM ("Admission"), such Admission is
expected to occur, subject to approval at the General Meeting, on
or around 7 September 2017. On Admission the Placing Shares and
Director's Shares will rank pari passu in all respects with the
existing ordinary shares of the Company, including the right to
receive all dividends and other distributions declared after the
date of their issue.
Following Admission of the Placing Shares and Director's Shares,
the Company will then have 1,420,806,857 Ordinary Shares in issue
with voting rights and admitted to trading on AIM. This figure may
then be used by shareholders in the Company 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, the
share capital of the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.
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
Contacts:
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
SVS Securities Plc
(Joint Broker)
Tom Curran +44 (0) 203 700 0093
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 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.
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 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 41,666,666 Ordinary shares
of the financial of 0.1 pence each in Inspirit
instrument, Energy plc
type of instrument
Identification ISIN GB00B44W9L31
code
--- ----------------------- -------------------------------
Nature of the Purchase of new ordinary
transaction shares as described above
--- ----------------------- -------------------------------
c) Price(s) and Price(s) Volumes(s)
volumes(s) ----------- -----------
0.12pence 41,666,666
----------- -----------
--- ----------------------- -------------------------------
d) Aggregated information n/a
--- ----------------------- -------------------------------
e) Date of the 15 August 2017
transaction
--- ----------------------- -------------------------------
f) Place of the London Stock Exchange, AIM
transaction (XLON)
--- ----------------------- -------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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