Exercise of Options by the Board
20 December 2024
Inspired PLC
("Inspired " or the "Group")
Exercise of Options by the Board
Inspired (AIM: INSE), a leading technology enabled service provider supporting businesses in their drive to net zero, controlling energy costs and managing their response to climate change, announces that certain members of the Board have exercised options granted under the Group's Share Option Schemes.
In addition to their participation in the Company's recent placing, announced 17 December 2024, Mark Dickinson (CEO), Paul Connor (CFO) and David Cockshott (CCO) (together the "Executives") have exercised, in aggregate, 392,000 ordinary shares of £0.0125 each ("Ordinary Shares") under the Group's Share Option Schemes (as detailed in the paragraph below). The Group's share price at the time of the exercise of options was 42p and the exercise price of the options was the nominal value of the Ordinary Shares.
Mark Dickinson and Paul Connor have exercised in aggregate 230,000 Ordinary Shares under the Group's 2017 Long Term Incentive Plan ("LTIP"). The 230,000 Ordinary Shares are currently held by the Inspired Energy EBT and will be transferred to Mark and Paul as part of their exercise under the LTIP. David Cockshott has exercised 162,000 options under the Group's Share Option Scheme.
The Group has made an application to the London Stock Exchange for the admission to trading on AIM of 162,000 new Ordinary Shares ("New Shares") to satisfy the exercise of options by David Cockshott ("Admission"). Admission is expected to occur on 24 December 2024.
Total voting rights
Following Admission, the total number of Ordinary Shares in issue, for the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules, will be 105,444,535 with each share carrying the right to one vote.
The above figure 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 to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.
As a result of this exercise of options, the Executives have increased their current shareholding in the Group, from, in aggregate, 0.89% to 1.26% of the current issued Share Capital.
A summary of the above transactions and the Executives' resultant holdings is set out below:
Name | Ordinary Shares held | % of issued Share Capital | Ordinary Shares transferred from Inspired EBT pursuant to the exercise (Note 1) | New Ordinary Shares issued to satisfy | Resultant holding | |
Ordinary Shares | % of issued share capital | |||||
Mark Dickinson | 661,428 | 0.63% | 170,000
| - | 831,428
| 0.79% |
Paul Connor | 272,500 | 0.26% | 60,000 | - | 332,500 | 0.32% |
David Cockshott | - | - | - | 162,000 | 162,000 | 0.15% |
Total
| 933,928 | 0.89% | 230,000 | 162,000 | 1,325,928 | 1.26% |
Note:
1. The exercise of the 392,000 options was subject to income tax including employers NIC (resulting in an effective 55% tax rate).
The information at the end of this announcement is set out in accordance with the requirements of the Market Abuse Regulation (EU) 596/2014 (which forms part of UK domestic law pursuant to the European Union (Withdrawal) Act 2018, as amended), provides further details of the transaction EU Market Abuse Regulation, provides further detail on the sales.
Enquiries please contact:
Inspired PLC Mark Dickinson (Chief Executive Officer) Paul Connor (Chief Financial Officer) David Cockshott (Chief Operating Officer) | www.inspiredplc.co.uk +44 (0) 1772 689250
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| |
Shore Capital (Nominated Adviser and Joint Broker) Patrick Castle James Thomas
| +44 (0) 20 7408 4090
|
Panmure Liberum (Joint Broker) Edward Mansfield Satbir Kler Joshua Borlant
| +44 (0) 20 3100 2000 |
Alma Strategic Communications Justine James Hannah Campbell Will Ellis Hancock | +44 (0) 20 3405 0205 +44 (0) 7525 324431
|
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | Mark Dickinson | ||||
2
| Reason for the notification | |||||
a)
| Position/status
| CEO | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name
| Inspired PLC | ||||
b)
| LEI
| 2138009UAKLCYEQPM829 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 0.125p each in Inspired PLC
GB00B5TZC716. | ||||
b)
| Nature of the transaction | Exercise of options over Ordinary Shares | ||||
c)
| Price(s) and volume(s) |
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
N/A (single transaction)
| ||||
e)
| Date of the transaction
| 20 December 2024 | ||||
f)
| Place of the transaction
| London Stock Exchange, AIM Market (XLON)
| ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | Paul Connor | ||||
2
| Reason for the notification | |||||
a)
| Position/status
| CFO | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name
| Inspired PLC | ||||
b)
| LEI
| 2138009UAKLCYEQPM829 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 0.125p each in Inspired PLC
GB00B5TZC716. | ||||
b)
| Nature of the transaction | Exercise of options over Ordinary Shares | ||||
c)
| Price(s) and volume(s) |
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
N/A (single transaction)
| ||||
e)
| Date of the transaction
| 20 December 2024 | ||||
f)
| Place of the transaction
| London Stock Exchange, AIM Market (XLON)
| ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | David Cockshott | ||||
2
| Reason for the notification | |||||
a)
| Position/status
| CCO | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name
| Inspired PLC | ||||
b)
| LEI
| 2138009UAKLCYEQPM829 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 0.125p each in Inspired PLC
GB00B5TZC716. | ||||
b)
| Nature of the transaction | Exercise of options over Ordinary Shares | ||||
c)
| Price(s) and volume(s) |
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
N/A (single transaction)
| ||||
e)
| Date of the transaction
| 20 December 2024 | ||||
f)
| Place of the transaction
| London Stock Exchange, AIM Market (XLON)
| ||||
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