Inspirit Energy Regulatory News (INSP)

20 Jul 2007 14:45

Inspace Plc20 July 2007 20 July 2007 Inspace plc ("Inspace" or "the Company") Notification of Directors Interests Inspace plc (AIM:INSP), one of the UK's leading specialist service providers tothe social housing market, has been informed that Chris Durkin, Chief OperatingOfficer of Inspace's Social and Affordable Housing Divisions, has todayexercised 122,788 share options granted to him on 17 January 2006 under theWidacre Limited Employee Share Acquisition Scheme. These Ordinary Shares are presently held by Rathbone Trustees Jersey Limited whoholds legal title to the shares subject to the terms of the Employee Share Trustbetween Widacre Limited and the employee. Once the share transfer has been completed Mr Durkin will hold 622,788 OrdinaryShares of 2p each in the Company representing, approximately 0.77% issued sharecapital of the Company. These Ordinary Shares continue to be subject to the same lock-in provisions fora period of two years as entered into by existing shareholders on theacquisition of Widacre Limited by Inspace on 31 August 2006. - Ends - For further information:Inspace plcAndrew Telfer, Chief Financial Officer Tel: +44 (0) 1462 678 910andrew.telfer@inspace.co.uk www.inspace.co.uk Dresdner KleinwortChristian Littlewood Tel: +44 (0) 20 7623 8000 Media enquiries:AbchurchHenry Harrison-Topham Tel: +44 (0) 20 7398 7702henry.ht@abchurch-group.com www.abchurch-group.com Notes to editors Inspace plc is a property based services group, and one of the UK's leadingspecialist service providers to the social housing market. Inspace has threecomplementary areas of activity: social housing, affordable housing andcorporate assets. Social Housing - creating and maintaining sustainable homes The division is one of the UK's leading specialist service providers to socialhousing landlords through long term framework contracts. Its services comprisemajor 'repair and maintenance', 'stock reinvestment' and new build programmesfor local authorities, Arms Length Management Organisations (ALMO) andRegistered Social Landlords (RSLs). Total spending on social housing is currently around £14 billion per annum, ofwhich around £10.3 billion is spent on repair, maintenance and improvement. Ofthis, £4 billion is spent on ongoing repair and maintenance, with the remaining£6 billion being spent on capital projects such as major refurbishment andimprovement. This includes a contribution of between £1 billion and £2 billion ayear from the Decent Homes initiative. The provision of new housing, which iscurrently running at around 35,000 units a year, adds a further £3.5 billion tothis sum. Affordable Housing - developing integrated communities The affordable housing division specialises in the provision of low cost homesfor sale in partnership with RSLs, usually alongside social housing built by theSocial Housing division, as part of more extensive mixed tenure schemes. It hasalready established a number of joint venture companies with RSLs and throughits involvement in the Key London Alliance consortium, has been appointed toprovide mixed tenure developments under the Government's London Wide Initiative. Corporate Assets - improving and maintaining public and private real estate The corporate assets division provides a comprehensive repair, maintenance,capital works and interior design service across public and private sectornon-residential real estate. It delivers 24/7 integrated maintenance servicesacross England, Scotland and Wales through its national network of branches and'home based' mobile engineers. Its specialist design-led service offerscustomers an integrated interior design, installation and furnishing 'one stop'solution. Further information on Inspace can be found at www.inspace.co.uk This information is provided by RNS The company news service from the London Stock Exchange