Acquisition of outstanding 10% interest in Horizon

RNS Number : 0235V

Inspired Energy PLC

18 July 2018

 

18 July 2018

Inspired Energy plc

("Inspired" or the "Group")

Acquisition of outstanding 10 per cent. interest in Horizon Energy Group Limited 

Inspired Energy (AIM: INSE), a leading UK energy procurement consultant to UK and Irish corporates and SMEs, announces that it has today exercised the call option under the Option Agreement to acquire the outstanding 10 per cent. interest in Horizon Energy Group Limited retained under the Acquisition Agreement, which completed on 17 July 2017. On exercise of the call option Inspired has made payment of €1.0 million in cash to Mr Barry. As a result Horizon Energy Group Limited is now a wholly owned subsidiary of the Group.

Further details on the Acquisition Agreement and Option Agreement are set out the shareholder circular dated 29 June 2017 ("Circular") available on the Group's website https://inspiredplc.co.uk/proposed-acquisition-horizon-energy-group-limited/ 

Unless the context otherwise requires, defined terms in this announcement shall have the meaning ascribed to them in the Circular.

Enquiries:   

Inspired Energy plc Mark Dickinson, Chief Executive Paul Connor, Finance Director	[phone] www.inspiredenergy.co.uk
Shore Capital (Nomad and Joint Broker) Dru Danford Edward Mansfield James Thomas Peel Hunt LLP (Joint Broker) Mike Bell Sam Cann	[phone] [phone]
Gable Communications Justine James John Bick	[phone] [phone] [e-mail]

 

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