Inspired to raise £35m to continue acquisition plan

Kirkham-based Inspired Energy is set to continue its growth through acquisition by raising £35m through the issue of new shares.

The energy consultant proposed the placing of new ordinary shares to raise approximately £30m, and a further £5m will be raised through an open offer made to existing qualifying shareholders.

The company will also purchase the remaining control of Ignite Energy, of which it bought 40 per cent in 2019. The deal includes an initial £11m in cash, and further considerations of up to £19m dependent on future performance.

Mark Dickinson, chief executive officer of Inspired Energy, said: "This fundraising will secure the company’s ability to respond quickly to, and execute, other acquisition opportunities which we believe are likely to emerge over the coming months and would add incremental capability to our growing platform."

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