Last checked at 18 Sep 2014 07:00
18 September 2014
Inspirit Energy Holdings plc
("Inspirit Energy", "Inspirit" or the "Company")
Issue of Equity
Inspirit has agreed to issue 3,398,056 new ordinary shares of 0.1 pence each in the Company (the "New Ordinary Shares") as settlement for professional fees. Application has been made for the New Ordinary Shares to be admitted to AIM, which is expected to become effective on 22 September 2014.
Following admission of the New Ordinary Shares, the Company's enlarged issued share capital will comprise 658,958,400 ordinary shares of 0.1 pence each. The Company does not hold any shares in treasury. This figure of 658,958,400 ordinary shares of 0.1 pence each 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.
For further information please contact:
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Inspirit Energy Holdings plc | www.inspirit-energy.com |
John Gunn, Executive Director | +44 (0) 207 048 9400 |
Jubeenh Nazhat, Director/Company Secretary
| +44 (0) 207 048 9405
|
Westhouse Securities Limited | |
Antonio Bossi / David Coaten | +44 (0) 207 601 6100 |
Beaufort Securities (Joint Broker) | +44(0) 207 382 8300 |
Jon Levinson / Saif Janjua / Elliot Hance | |
Public Relations: | |
Square1 Consulting | |
David Bick / Mark Longson | +44 (0) 207 929 5599 |
About Inspirit Energy Holdings plc:
Inspirit Energy Holdings plc, is developing and commercialising a highly efficient micro combined heat and power (mCHP) boiler for the commercial and residential markets. The boiler is specifically designed to meet the challenge of reduced carbon energy supply and is capable of running on natural gas, LPG and Bio Fuels. The appliance produces hot water (for tap water or central heating) and electrical output simultaneously. The installation can be of single or multiple configuration and its high operating efficiency together with the off-set of electricity costs provides a very attractive investment payback proposition.
Inspirit intends to explore opportunities to licence out the underlying technology and the Directors believe that in some instances, the patents owned by Inspirit may be also used in the development of products other than a mCHP appliance. A prototype of the appliance has been independently tested and shown to be capable of simultaneous generation of up to 15kW thermal and up to 3kW electrical output. Once development of the appliance has been completed and commercialised, the Directors expect that the appliance will initially be marketed in the UK and Europe and eventually worldwide. Additional revenue streams may be possible through product licensing, sales of warranties and further development of the product.