Inspirit Energy Holdings PLC Loan Note conversion (8536V)
05 Dicembre 2019 - 01:02PM
UK Regulatory
TIDMINSP
RNS Number : 8536V
Inspirit Energy Holdings PLC
05 December 2019
5 December 2019
Inspirit Energy Holdings Plc
("Inspirit" or "the Company")
Loan Note conversion
Inspirit Energy Holdings PLC (AIM: INSP), the developer of micro
Combined Heat and Power ("microCHP" or "mCHP") boilers, announced
that on 25 November 2019 that it had GBP41,000 Convertible Loan
Notes (CLN's) outstanding.
On 2(nd) December 2019, the company received a loan conversion
notices for GBP37,800 on the Convertible Loan Notes and GBP3,200
Loan Notes will remain outstanding.
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 (0.06.5p).
Accordingly, the Company is now issuing 54,000,002 Ordinary Shares
at a price of 0.07p per Ordinary Share.
Application has been made for the 54,000,002 Ordinary Shares to
be admitted to trading on AIM ("Admission") and it is expected that
Admission will occur on or about 10 December 2019. The shares will
rank pari passu in all respects with the existing Ordinary Shares
of the Company.
Total voting rights
Following admission of the Placing Shares, the Company's
enlarged issued share capital will comprise 2,899,211,612 Ordinary
Shares. The Company does not hold any shares in treasury. This
figure 2,899,211,612 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
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.
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
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December 05, 2019 07:02 ET (12:02 GMT)
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