Inspired PLC - Preston, England-based energy advisory and sustainability services provider - Enters into a deed of variation with Ignite Energy Ltd vendors to provide long-term incentives. Says deed allows vendors to secure up to GBP9.3 million of additional earn out consideration if they generate cumulative earnings before interest, tax, depreciation and amortisation of around GBP64.1 million in 2026.

On July 10, 2020, Inspired acquired a 60% stake in Ignite for an initial consideration of GBP11 million, comprising GBP5.5 million cash and GBPP5.5 million of shares. This followed Inspired Energy's investment in the initial 40% of Ignite in August 2019 for GBP5 million. The purchase included a further contingent consideration of up to a maximum of GBP19 million in cash and shares, payable depending on the achievement of certain performance criteria.

Current stock price: 11.80 pence, up 3.8%

12-month change: up 15%

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.