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Inspirit Energy Hlds (INSP)


Wednesday 06 June, 2018

Inspirit Energy Hlds

Result of General Meeting

RNS Number : 5092Q
Inspirit Energy Holdings PLC
06 June 2018


6 June 2018


Inspirit Energy Holdings PLC

("Inspirit Energy" or "the Company)



Result of General Meeting

Completion of Capital Reorganisation


Inspirit Energy Holdings PLC (AIM: INSP), the developer of micro Combined Heat and Power (microCHP) boiler, announces that, at its General Meeting (the "GM") to seek approval for (i) the Capital Reorganisation that will allow for the issue of the New Ordinary Shares to be issued on conversion of the Convertible Loan Notes (the "CLN's") and (ii) a general authority to allow the Directors to issue a further 650,000,000 New Ordinary Shares held earlier today all resolutions were passed.


The Capital Reorganisation, which comprises a sub-division of shares has been structured so that each New Ordinary Share created pursuant to the Capital Reorganisation shall have a nominal value of 0.001 pence.

The number of Ordinary Shares in issue, and held by each Shareholder, as a result of the passing of the relevant resolutions will not change. It is simply the nominal value of the Existing Ordinary Shares which will change.

Details of the Capital Reorganisation

Each Existing Ordinary Share of 0.1 pence each in the capital of the Company has been sub-divided into 1 New Ordinary Shares of 0.001 pence each and 1 B Deferred Share of 0.099 pence each ("Capital Reorganisation"). This results in 1,420,806,859 New Ordinary Shares and 1,420,806,859 B Deferred Shares now in issue.

The B Deferred Shares have no rights and the Company will not issue any share certificates or credit CREST accounts in respect of them.

Admission of the New Ordinary Shares

Application has been made for the New Ordinary Shares to be admitted to trading on AIM in place of the Existing Ordinary Shares. It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence on 7 June 2018.

The ISIN and SEDOL in respect of the previous Ordinary Shares remain unchanged in respect of the New Ordinary Shares.

CLN: Use of funds

As previously announced, the funds from the loan notes will be used for the following:

·    Continued certification of the microCHP boiler;

·    Commercial trials of the microCHP boiler;

·    General working capital; and

·    Potentially to make investments in complementary areas that will utilise the Company's existing technical expertise.

NOTE: the total shares in issue is now 1,420,806,859 New Ordinary Shares. This differs by 2 shares to the previously announced total shares in issue of 1,420,806,857 Ordinary Shares and results from a previous transposition error. Shareholders should use 1,420,806,859 Ordinary Shares as the shares now in issue.


This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.






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

Peterhouse Corporate Finance

(Joint Broker)


Lucy Williams / Duncan Vasey


+44 (0) 207 469 0930




Total number of New Ordinary Shares in issue following the Capital Reorganisation


Total number of B Deferred Shares in issue following the Capital Reorganisation


ISIN code for New Ordinary Shares (unchanged)


TIDM code for AIM





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