Inspirit Energy Holdings PLC Business Update & Company to become a Cash shell
08 Ottobre 2024 - 10:00AM
RNS Regulatory News
RNS Number : 3549H
Inspirit Energy Holdings PLC
08 October 2024
8 October 2024
Inspirit Energy Holdings plc
(the "Company")
Business Update & Company
to become an AIM Rule 15 Cash shell
The Company was notified by the
Design & Development Director of its wholly owned subsidiary
Inspirit Energy Limited ("Inspirit"), that he needs to devote his
full time and attention to caring for a close relative with
recently received life changing issues. As a result, he will
not currently be in a position to fully devote any time or work in
any other capacity for Inspirit for the foreseeable future and will
therefore cease to work for Inspirit.
The Board fully understand the
employee's personal position and is considering the best way to
support him during this time. This lead engineer is a key and
pivotal member of the team, and the Board has concluded that him
leaving his employment with Inspirit will have critical impact on
the project. As such, the Company's previously announced agreements
and discussion with potential commercial partners should be
regarded as being on hold unless advised otherwise.
The Board has completed its review
and has concluded that it should now focus its energies on
preserving its existing cash balances to pursue other opportunities
and as such is, with immediate effect, becoming an AIM Rule 15 cash
shell. In the meantime, the Company will seek to realise value from
the IP developed to date if it can. As an AIM Rule 15 cash shell
the Company will have six months to make an acquisition or
acquisitions which constitutes a reverse takeover under AIM Rule
14. Where, within six months, an AIM Rule 15 cash shell does not
complete a reverse takeover as set out in AIM Rule 15, the Exchange
will suspend trading in the AIM securities pursuant to AIM Rule
40.
The Board will consider the next
steps or opportunities for the Company and will provide an update
to the members in due course.
THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No.
596/2014) AS IT FORMS PART OF UK DOMESTIC
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018.
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
|
Nominated Adviser
Beaumont Cornish Limited ("Beaumont
Cornish") is the Company's Nominated Adviser and is authorised and
regulated by the FCA. Beaumont Cornish's responsibilities as the
Company's Nominated Adviser, including a responsibility to advise
and guide the Company on its responsibilities under the AIM Rules
for Companies and AIM Rules for Nominated Advisers, are owed solely
to the London Stock Exchange. Beaumont Cornish is not acting for
and will not be responsible to any other persons for providing
protections afforded to customers of Beaumont Cornish nor for
advising them in relation to the proposed arrangements described in
this announcement or any matter referred to in it.
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END
UPDUPGAAUUPCUMR
Grafico Azioni Inspirit Energy (LSE:INSP)
Storico
Da Ott 2024 a Nov 2024
Grafico Azioni Inspirit Energy (LSE:INSP)
Storico
Da Nov 2023 a Nov 2024