Issue of Equity

RNS Number : 1378O

Inspirit Energy Holdings PLC

17 September 2013

 



Inspirit Energy Holdings plc

("Inspirit" or the "Company")

                                                                                     Issue of Equity

Inspirit has agreed to issue 1,978,733 new ordinary shares of 0.1 pence each in the Company (the "New Ordinary Shares") as settlement for professional fees. Application has been made for the New Ordinary Shares to be admitted to AIM, which is expected to become effective on 20 September 2013.

Following admission of the New Ordinary Shares and of the ordinary shares the subject of the announcement on 13 September 2013, the Company's enlarged issued share capital will comprise 565,768,137 ordinary shares of 0.1 pence each. The Company does not hold any shares in treasury. This figure of 565,768,137 ordinary shares of 0.1 pence each 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.

For further information please contact:

Contacts:
Inspirit Energy Holdings plc	www.inspirit-energy.com
John Gunn, Executive Director	[phone]
Jubeenh Nazhat, Director/Company Secretary	[phone]
Westhouse Securities Limited (Nominated Adviser and joint broker)
Antonio Bossi / Paul Gillam	[phone]
Peterhouse Capital Limited (joint broker)
Jon Levinson	[phone]
Public Relations:
Square1 Consulting
David Bick	[phone]

Notes to the Editors:

Inspirit Energy, is a company based in Sheffield and is currently developing a micro combined heat and power (mCHP) boiler for the commercial and residential markets. The boiler is specifically designed to meet the challenge of 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 licence 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. 

 

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