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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Inspired Plc | LSE:INSE | London | Ordinary Share | GB00BR2Q0V58 | ORD 1.25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
6.00 | 9.45% | 69.50 | 67.00 | 72.00 | 69.50 | 63.50 | 63.50 | 113,254 | 16:27:24 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Business Services, Nec | 88.78M | -3.63M | -0.0360 | -19.31 | 70.03M |
TIDMINSE
RNS Number : 1681V
Inspired Energy PLC
01 November 2017
1 November 2017
("Inspired Energy" or the "Group")
Payment of deferred consideration pursuant to the acquisition of
STC Energy and Carbon Holdings Limited
On 17 November 2015 Inspired Energy announced the acquisition of 100% of the issued share capital of STC Energy and Carbon Holdings Limited ("STC"), a market leading energy bureau, billing and management service provider to large multi-site organisations. The consideration payable on completion which amounted to GBP9.0 million was satisfied in cash and shares.
In addition, there was provision for the payment of an earn-out of up to GBP3.0 million, payable in the two tranches, to be satisfied 50% in cash and 50% by the issue of new ordinary shares of 0.125p each in the Group (the "Terms").
The Group settled an initial tranche of deferred consideration of GBP1.5 million in May 2016 and is due to pay a further GBP1.3 million in deferred consideration under the Terms.
The Group has entered into a deed of variation of the Terms with the vendors of STC (the "Revised Terms"). Based on the Revised Terms, the Group will now satisfy all of the final GBP1.3 million deferred consideration payable in cash and the Group will therefore not be required to issue any additional new ordinary shares.
For further information, please contact:
Inspired Energy plc www.inspiredenergy.co.uk Mark Dickinson (Chief Executive +44 (0) 1772 689250 Officer) Paul Connor (Finance Director) Shore Capital (Nominated Adviser and Joint Broker) Dru Danford Edward Mansfield +44 (0) 20 7408 4090 Panmure Gordon (Joint Broker) Ben Thorne James Stearns +44 (0) 20 7886 2500 Gable Communications +44 (0) 20 7193 7463 Justine James +44 (0) 7525 324431 John Bick inspired@gablecommunications.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
November 01, 2017 03:00 ET (07:00 GMT)
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