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Inspired says Regent Acquisitions £109 million offer undervalues it

ALN

Inspired PLC on Wednesday said it ‘is worth considerably more’ than a proposal from Regent Acquisitions 2025 Ltd which valued it at £109.4 million.

Inspired is an Isle of Man-based energy and sustainability advisor.

Regent Acquisitions on Tuesday said it has made an offer to acquire the entire issued and to be issued share capital of Inspired not already held by any member of the wider Regent group.

Regent said it will pay 68.50 pence in cash for each share, valuing the total issued share capital at £109.4 million.

Inspired said its board had no knowledge of the offer prior to the announcement being released.

The board unanimously believes that the offer ‘fundamentally undervalues Inspired’.

On Wednesday, Inspired’s board said: ‘The Regent offer represents only a 12% premium to the closing share price of Inspired prior to the announcement and is pitched at a level below where the shares were trading only last month.

‘It’s an opportunistic attempt to take control of the company without paying a proper premium. Inspired is worth considerably more than what Regent is offering.’

Inspired said it is receiving financial advice and will make a formal response to the offer ‘in due course’.

Regent on Tuesday said it is confident that it can assist Inspired in improving operational efficiency and reducing its debt burden.

It said it would undertake a strategic review of Inspired for six months to identify savings to reduce its debt burden, with the aim for it to be eliminated by the end of 2026.

Regent Gas Holdings Ltd, a member of the wider Regent group, currently holds 29% of Inspired’s issued share capital.

Shares in Inspired were up 5.1% to 68.85 pence in London on Wednesday afternoon.

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