Inspired Regulatory News (INSE)

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7 December 2018

Inspired Energy plc

("Inspired", or the "Company")

Completion £19.0 million Placing for the Company

Posting of Shareholder Circular and Notice of General Meeting

Further to the earlier announcement, Inspired (AIM: INSE), a leading energy procurement consultant to UK corporates, is pleased to announce that the Company has raised £19.0 million (gross) through a placing of new Ordinary Shares in the Company through a placing of 115,151,516 new Ordinary Shares ("Placing Shares") at 16.5 pence per Placing Share (the "Placing Price").

The Placing is conditional, amongst other things, on the passing of the Placing Resolutions at the General Meeting ("GM") and Admission. Completion of the Acquisition is conditional, amongst other matters, on the receipt of the subscription monies relating to the Placing Shares. The Placing has not been underwritten.

The Placing is not conditional on the Acquisition completing and therefore there is a risk, albeit the Directors consider it highly unlikely, that the Placing will complete and the Acquisition does not complete. The Directors believe that if Admission occurs and therefore the Placing completes, then it is very unlikely that the Acquisition will not complete. Consequently, given the nature of the risk, the Directors have not considered it necessary to consider alternative uses for the net proceeds from the Placing if the Acquisition does not complete apart from that it would use the net proceeds in a way which is in the best interests of the Shareholders as a whole.

Posting of Shareholder Circular and Notice of General Meeting

A circular to Shareholders ("Circular") will be posted later today, convening a general meeting of the Company to be held at Shore Capital Stockbrokers Limited, The Corn Exchange, Fenwick Street, Liverpool, L2 7RB on 27 December 2018 at 10.00 a.m. and will be available to download on the Company's website (www.inspiredplc.co.uk).

Application for admission

Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the Conditional Placing Shares will commence on 28 December 2018, subject to the passing of the Resolutions at the GM.

Total voting rights

Following the Admission, the Company's issued share capital will consist of 713,973,440 Ordinary Shares, with each Ordinary Share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. This figure of 713,973,440 Ordinary Shares may therefore 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 DTRs.

Following the Admission, and subject to shareholder approval, the Company's issued share capital will consist of 713,973,440 Ordinary Shares, with each Ordinary Share carrying the right to one vote.

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

Commenting on the proposed acquisition, Mark Dickinson, Chief Executive of Inspired, said: "The Board is delighted to see the significant support we have received from our existing and new shareholder base. We look forward to completing the acquisition of Inprova and taking the Company to the next stage of growth."

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