Inspired Regulatory News (INSE)

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EUREGULATION 596/2014 ("MAR"). UPON PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

28 July 2020

Inspired Energy plc 

("Inspired Energy" or the "Group")

Result of General Meeting

and

Open Offer

Inspired Energy (AIM: INSE), a leading consultant for energy procurement, utility cost optimisation and legislative compliance to corporate energy consumers in the UK and Ireland, announced on 10 July 2020 that it proposed to raise £30 million through a Firm Placing and a Conditional Placing, and up to £5 million through an Open Offer. The Conditional Placing and Open Offer were conditional, inter alia, upon the passing of certain resolutions by Shareholders at the Company's General Meeting held earlier today. The Group is pleased to announce that all resolutions were duly passed by means of a poll at the General Meeting.

Furthermore, the Group announces that the Open Offer, which closed for acceptances at 11.00 a.m. on 27 July 2020 with final valid applications including Excess Entitlements from Qualifying Shareholders in respect of 8,776,325 Open Offer Shares representing a take-up of approximately 26.24% of the maximum number of Open Offer Shares available. Qualifying Shareholders who have validly applied for their Basic Entitlement of Open Offer Shares will receive their Basic Entitlement in full and Qualifying Shareholders who have validly applied for Excess Shares through the Excess Application Facility will receive such application in full.

Accordingly, the Company has raised total gross proceeds of approximately £31.3 million through the Firm Placing, the Conditional Placing and Open Offer.

Total voting rights

Application has been made for the 128,603,200 Conditional Placing Shares and 8,776,325 Open Offer Shares to be admitted to trading on AIM ("Third Admission"). It is expected that Third Admission will occur on 29 July 2020. Following Third Admission, the Company's issued share capital will consist of 959,899,047 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 959,899,047 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.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the circular sent to shareholders of the Company on 10 July 2020.

Further details on the Acquisition, the Open Offer, the Firm Placing and the Conditional Placing are set out in the circular sent to shareholders in the Group on 10 July 2020 and available on the Group's website www.inspiredplc.co.uk.

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