Inspired Energy PLC Completed Secondary Placing for £5.0 million (6808N)

TIDMINSE

RNS Number : 6808N

Inspired Energy PLC

28 October 2016

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

28 October 2016

Inspired Energy plc

("Inspired" or the "Group")

Completed Secondary Placing for GBP5.0 million

Inspired Energy plc (AIM: INSE), a leading energy procurement consultant to UK corporates, is pleased to announce that Shore Capital Stockbrokers Limited ("Shore Capital") and Panmure Gordon UK Limited ("Panmure Gordon") have concluded a placing on behalf of certain directors and an existing shareholder for approximately 37.7 million existing ordinary shares of 0.125p each in the Group (the "Placing Shares") representing 7.8% of the Enlarged Share Capital of the Group (the "Placing") with, amongst others, new and existing institutional investors, at a price of 13.25 pence per Placing Share.

The directors' revised shareholdings are set out below:

 
        Director                Shareholding           Options exercised     Ordinary Shares sold     Resultant shareholding 
                                                            and sold 
-----------------------  --------------------------  ---------------------  ----------------------  -------------------------- 
                          Number of    % of           Number     % of        Number of    % of       Number of    % of 
                          Ordinary     Enlarged       of         Enlarged    Ordinary     Enlarged   Ordinary     Enlarged 
                          Shares       Share          Ordinary   Share       Shares       Share      Shares       Share 
                                       Capital(1)     Shares     Capital                  Capital                 Capital 
-----------------------  -----------  -------------  ---------  ----------  -----------  ---------  -----------  ------------- 
 Janet Thornton(2)        52,764,983          10.9%          -           -   14,174,404       2.9%   38,590,579          7.95% 
  (Managing Director) 
-----------------------  -----------  -------------  ---------  ----------  -----------  ---------  -----------  ------------- 
 Matthew Thornton(2)      52,764,983          10.9%          -           -   14,174,406       2.9%   38,590,577          7.95% 
  (Executive Director) 
-----------------------  -----------  -------------  ---------  ----------  -----------  ---------  -----------  ------------- 
 Praetura Ventures(3)     17,274,079           3.6%          -           -    6,137,040       1.3%   11,137,039          2.29% 
-----------------------  -----------  -------------  ---------  ----------  -----------  ---------  -----------  ------------- 
 Paul Connor 
  (Finance Director)               -              -    750,000        0.2%            -          -            -              - 
-----------------------  -----------  -------------  ---------  ----------  -----------  ---------  -----------  ------------- 
 

Notes:

1. The Group's share capital of 485,588,955 ordinary shares of 0.125p each as enlarged by the 750,000 options exercised on 28 October 2016, which are expected to be admitted to trading on AIM on 3 November 2016 ("Enlarged Share Capital").

2. Janet Thornton and Matthew Thornton are married, therefore, their aggregate holding will be 77,181,156 Ordinary Shares representing 15.9 per cent. of the Enlarged Share Capital.

   3.     Praetura Ventures (1) LLP is a limited liability partnership whose members are Mike Fletcher (Non-Executive Chairman) and David Foreman (Corporate Development Director) who each have an equal share and accordingly are taken as interested in the ordinary shares held by Praetura Ventures (1). 

Following the sale of the options Paul Connor holds options over 4,750,000 Ordinary Shares. No other director holds options in the Group.

For further information, please contact:

 
Inspired Energy plc                     www.inspiredenergy.co.uk 
 Janet Thornton (Managing Director)      [phone] 
 Paul Connor (Finance Director) 
 David Foreman (Corporate Development 
 Director) 
Shore Capital (Nominated Adviser 
 and Joint Bookrunner) 
 Bidhi Bhoma 
 Edward Mansfield                        [phone] 
Panmure Gordon (Joint Bookrunner) 
 Ben Thorne 
 Erik Anderson                          [phone] 
Gable Communications 
 Justine James                            [phone] 
 John Bick                                [phone] 
                                          [e-mail] 
 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 28, 2016 02:30 ET (06:30 GMT)