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 £107,500 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 £530,000 in cash from private investors and retired existing debt due to Related Parties and other debt valued at £315,000 into the CLNs; thereby issuing a total of £845,000 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 16th 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 the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | John Gunn | ||||
| 2 | Reason for notification | |||||
| a) | Position / status | Director
| ||||
| b) | Initial notification /Amendment | Initial | ||||
| 3 | Details of the issuer, emission allowance market participant, auctionplatform, auctioneer or auction monitor | |||||
| a) | Name | Inspirit Energy Holdings plc
| ||||
| b) | LEI | LEI: 2138003WD884IOTL5X04
| ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument
Identification code | Ordinary shares of 0.001 pence each in Inspirit Energy Holdings plc
ISIN GB00B44W9L31
| ||||
| | Nature of the transaction | Exercise of warrants
| ||||
| c) | Price(s) and volumes(s) |
| ||||
| 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 the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Nilesh Jagatia | ||||
| 2 | Reason for notification | |||||
| a) | Position / status | Director
| ||||
| b) | Initial notification /Amendment | Initial | ||||
| 3 | Details of the issuer, emission allowance market participant, auctionplatform, auctioneer or auction monitor | |||||
| a) | Name | Inspirit Energy Holdings plc
| ||||
| b) | LEI | LEI: 2138003WD884IOTL5X04
| ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type ofinstrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument
Identification code | 14,285,714 Ordinary shares of 0.001 pence each in Inspirit Energy plc
ISIN GB00B44W9L31
| ||||
| | Nature of the transaction | Exercise of warrants
| ||||
| c) | Price(s) and volumes(s) |
| ||||
| 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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