3 April 2024
Inspired PLC
("Inspired" or the "Company" or the "Group")
Issue of Equity
Inspired (AIM: INSE), a technology-enabled service provider delivering solutions to enable businesses to transition to net-zero and manage their response to climate change, announces the issue of 4,153,355 ordinary shares of 1.25p in the Company ("Contingent Consideration Shares") pursuant to the share purchase agreement dated 9 July 2020 (the "SPA") between the Company and vendors of Ignite Energy LTD ("Ignite") being Benjamin Higgins, David Higgins, Vanessa Higgins and Ethan Higgins (the "Vendors").
The Company confirmed on 28 March 2024 that in respect of FY23 EBITDA performance, £2.6 million in contingent consideration shares was due to the Vendors, which is now being settled by the issue of the Contingent Consideration Shares at a price of 62.6p per New Ordinary Share, being the average mid-market closing price of the Company's shares for the five days prior to 28 March 2024, as per the terms of the SPA.
The Contingent Consideration Shares will be issued between the Vendors as follows:
| Vendor | Number of Contingent Consideration Shares
|
| Benjamin Higgins | 1,903,482
|
| David Higgins & Vanessa Higgins | 1,903,482
|
| Ethan Higgins | 346,391
|
The Contingent Consideration Shares are expected to be admitted to trading on AIM on 8 April 2024.
Following this admission, the Group's share capital and total voting rights will comprise 105,038,135 ordinary shares of 1.25p each and the Group does not hold any shares in treasury. Consequently, 105,038,135 is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, Inspired under the FCA's Disclosure and Transparency Rules.
Enquiries please contact:
| Inspired PLC Mark Dickinson, Chief Executive Officer Paul Connor, Chief Financial Officer David Cockshott, Chief Commercial Officer
| +44 (0) 1772 689250
|
| Shore Capital (Nominated Adviser and Joint Broker) Patrick Castle James Thomas Rachel Goldstein
| +44 (0) 20 7408 4090
|
| Liberum (Joint Broker) Edward Mansfield Satbir Kler
| +44 (0) 20 7418 8900 |
| Alma Strategic Communications Justine James Hannah Campbell Will Ellis Hancock | +44 (0) 20 3405 0205
|
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.