Inspired Energy Plc completes the acquisition of Ignite Energy Ltd.

Inspired Energy Plc (LON: INSE) has informed about the completion of the acquisition of Ignite Energy Ltd.

  • The company further to its earlier announcement of 10 July 2020 has completed the acquisition of the outstanding 60 per cent. of Ignite Energy Ltd.
  • The acquisition, which is on a debt-free cash-free basis, is worth consideration of £11.0 million, comprising of £5.5 million of cash and £5.5 million of shares.
  • The company has further reported that the consideration shares were issued at a price of 17.16 pence per consideration share. The price was average mid-market closing price for the five days prior to 10 July 2020.
  • On 17th July 2020, at the time of writing, GMT 08:28 AM, INSE shares were trading at GBX 16.00, unchanged against the previous day closing price.