Inspired PLC - Lancashire, England-based sustainability and energy advisor - Says that following the passing of annual general meeting resolutions, it will allot and issue 53.1 million shares raising £21.25 million as part of its previously announced placing. Company will also issue 1.0 million shares as part of a retail offering to raise £410,000. Expects admission of placing and retail shares to trading on AIM at 08.00 on Wednesday. Says Chief Executive Officer Mark Dickinson participates in the placing to the amount of 394,860 shares at 0.40p raising £157,944. Chief Financial Officer Paul Connor also participates to the effect of 137,500 shares at the same placing price, raising £55,000. Inspired expects to use the proceeds for various purposes including de-leveraging, working capital investment and liquidity. Says largest shareholder Gresham House Asset Management Ltd will have approximately 29% holding in the company’s enlarged share capital following the admission of shares. Adds that this can rise to approximately 38% upon the exercise of warrants and convertible loan notes.
Current stock price: 45.25p, down 5.7% on Tuesday afternoon in London
12-month change: down 40%
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