TIDMINSP
RNS Number : 4738F
Inspirit Energy Holdings PLC
16 November 2020
16 November 2020
Inspirit Energy Holdings Plc
("Inspirit" or "the Company")
Issue of Shares pursuant to Warrant conversion
Directors Dealings
Total Voting Rights
Inspirit Energy Holdings PLC (AIM: INSP), the developer of micro
Combined Heat and Power ("microCHP" or "mCHP") boilers, announces
that it has received notice for a warrant conversion for GBP107,500
at 0.07 p per share on the Warrants attached to Convertible Loan
Notes (CLN's) issued on the 4 May 2018 to the Directors of the
Company and accordingly will issue 153,571,427 Ordinary Shares.
Background
On 4th 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 valued at GBP315,000 into the
CLNs; thereby issuing a total of GBP845,000 of CLN's. A majority of
the CLN's were converted into equity on 20 November 2019 and on
conversion, each new ordinary share then issued had an attached
half warrant (ie one warrant issued for every two CLNs converted)
at the relevant conversion price valid for 12 months from the date
of issue.
At that time, John Gunn converted his CLNs for 142,857,142
Ordinary Shares, Global Investment Strategy UK Ltd converted their
CLNs for 135,714,285 Ordinary Shares and Nilesh Jagatia converted
his CLN's for 28,571,428 Ordinary Shares. Each converted ordinary
share had a half a warrant attached.
On 16(th) November 2020, the above warrants were converted and
as a result of the warrant exercise, the Chairman and CEO, John
Gunn, will be issued 71,428,571 new Ordinary Shares of 0.001p each
("Ordinary Shares") and Global Investment Strategy UK Ltd will be
issued 67,857,142 new Ordinary shares. Following Admission, John
Gunn will have a direct and indirect interest (via Global
Investment Strategy UK Ltd) in 861,403,363 Ordinary Shares
representing 26.33% per cent. of the Company's enlarged issued
share capital. Nilesh Jagatia, Finance Director, will be issued
14,285,714 Ordinary Shares and will, following Admission, have a
direct interest in 44,857,142 Ordinary Shares representing 1.37 per
cent. of the Company's enlarged issued share capital.
Application has been made for the 153,571,427 new Ordinary
Shares to be admitted to trading on AIM ("Admission") and it is
expected that Admission will occur on or about 20 November 2020.
The shares will rank pari passu in all respects with the existing
Ordinary Shares of the Company.
Total voting rights
Following Admission of the new Ordinary Shares, the Company's
enlarged issued share capital will comprise 3,271,640,186 Ordinary
Shares. The Company does not hold any shares in Treasury. This
figure of 3,271,640,186 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.
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
(Nominated Advisor)
Roland Cornish / James Biddle +44 (0) 207 628 3396
Global Investment Strategy UK
Ltd
(Broker)
Samantha Esqulant +44 (0) 207 048 9045
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 t he p erson disc harging managerial responsib
ilities / p erson closely associated
a) Name John Gunn
----------------------------------------- ----------------------------
2 Reason for notification
-----------------------------------------------------------------------
a) Position / status Director
----------------------------------------- ----------------------------
b) I nitial notification Initial
/Amendment
----------------------------------------- ----------------------------
3 Details of t he issu er, e mission allow a n ce m a r k et
participan t, au ct ionplat for m, au ction eer or auc tion
monitor
-----------------------------------------------------------------------
a) Name Inspirit Energy Holdings
plc
----------------------------------------- ----------------------------
b) LEI LEI: 2138003WD884IOTL5X04
----------------------------------------- ----------------------------
4 Details of t he t ransact ion (s): section to be re p eated
for ( i) e a ch type ofinstr u m e n t; (ii) each type of
transac tion; (iii) each date; and ( iv) each place w h ere
transactions have b een condu cted
-----------------------------------------------------------------------
a) Description of the financial instrument, Ordinary shares of 0.001
t ype of instrument pence each in Inspirit
Energy Holdings plc
I d e ntification code
ISIN GB00B44W9L31
----------------------------------------- ----------------------------
Nature of the transaction Exercise of warrants
----------------------------------------- ----------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0.07pence 139,285,713
------------
----------------------------------------- ----------------------------
d) Aggregated information n/a
----------------------------------------- ----------------------------
e) Date of the transaction 16 November 2020
----------------------------------------- ----------------------------
f) Place of the transaction London Stock Exchange,
AIM (XLON)
----------------------------------------- ----------------------------
Nilesh Jagatia
1 Details of t he p erson disc harging managerial responsib ilities
/ p erson closely associated
a) Name Nilesh Jagatia
----------------------------------------- ---------------------------------
2 Reason for notification
----------------------------------------------------------------------------
a) Position / status Director
----------------------------------------- ---------------------------------
b) I nitial notification Initial
/Amendment
----------------------------------------- ---------------------------------
3 Details of t he issu er, e mission allow a n ce m a r k et
participan t, au ct ionplat for m, au ction eer or auc tion
monitor
----------------------------------------------------------------------------
a) Name Inspirit Energy Holdings
plc
----------------------------------------- ---------------------------------
b) LEI LEI: 2138003WD884IOTL5X04
----------------------------------------- ---------------------------------
4 Details of t he t ransact ion (s): section to be re p eated
for ( i) e a ch type ofinstr u m e n t; (ii) each type of transac
tion; (iii) each date; and ( iv) each place w h ere transactions
have b een condu cted
----------------------------------------------------------------------------
a) Description of the financial instrument, 14,285,714 Ordinary shares
t ype of instrument of 0.001 pence each in Inspirit
Energy plc
I d e ntification code
ISIN GB00B44W9L31
----------------------------------------- ---------------------------------
Nature of the transaction Exercise of warrants
----------------------------------------- ---------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0.07 pence 14,285,714
-----------
----------------------------------------- ---------------------------------
d) Aggregated information n/a
----------------------------------------- ---------------------------------
e) Date of the transaction 16 November 2020
----------------------------------------- ---------------------------------
f) Place of the transaction London Stock Exchange, AIM
(XLON)
----------------------------------------- ---------------------------------
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END
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November 16, 2020 09:55 ET (14:55 GMT)
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