Announcement • Sep 03
Inspired Plc Makes an Application to the London Stock Exchange for the Proposed Cancellation of the Admission to Trading of Inspired Shares on AIM Further to the announcement made on 15 August 2025 on the Offer made by Bidco being declared Unconditional and that each of the Rule 15 Proposals were declared unconditional, Inspired announced that it has made an application to the London Stock Exchange for the proposed cancellation of the admission to trading of Inspired Shares on AIM (the "Cancellation") in accordance with Rule 41 of the AIM Rules for Companies (the "AIM Rules"). Under the AIM Rules, the Cancellation can only take place after the expiry of a period of 20 business days from the date on which the notice of Cancellation is given. The Cancellation is, therefore, expected to take effect at 7.00am (London time) on 30 September 2025, being 20 business days from the date of this announcement. Inspired has been informed that Bidco intends, promptly following Cancellation, to procure that Inspired shall be re-registered as a private company. Inspired has also been informed that Bidco does not intend to put in place a matched bargain facility upon which Inspired Shares can be traded. As such, it should be noted that: The Cancellation will substantially reduce the liquidity and marketability of any Inspired Shares in respect of which the Offer has not been validly accepted at that time and their value may be affected as a consequence. Following the Cancellation becoming effective and the Inspired Shares ceasing to be admitted to trading on AIM, Inspired Shareholders who have not validly accepted the Offer will own shares in an unlisted company and accordingly will not benefit from the protections under the AIM Rules that were afforded to them whilst Inspired was so admitted. Following the re-registration becoming effective, any remaining Inspired Shareholders would become minority shareholders in a privately controlled limited company and may be unable to sell their Inspired Shares. As noted in the Offer Document, HGGC intends to suspend any ordinary course dividends or other distributions by Inspired, and there can be no certainty that the Inspired Shareholders shall again be offered as much for the Inspired Shares held by them as under the Offer. Also, following the Offer closing, Inspired Shareholders may not be able to sell their Inspired Shares. The Offer will remain open for acceptances until further notice. At least 14 calendar days' notice will be given by an announcement before the Offer is closed. Subject to giving at least 14 calendar days' notice, Bidco can close the Offer at any point, following which Inspired Shareholders who have not accepted the Offer will be unable to accept the Offer. Furthermore, Inspired Shareholders are reminded that, if Bidco receives acceptances under the Offer in respect of, or otherwise acquires, 90% or more of the Inspired Shares to which the Offer relates, Bidco intends to exercise its rights pursuant to the statutory squeeze-out provisions of Chapter 3 of Part 28 of the Companies Act to acquire compulsorily, the remaining Inspired Shares to which the Offer relates. Accordingly, Inspired Shareholders are strongly encouraged to submit their acceptances as soon as possible to enable them to receive payment at the earliest convenience. Announcement • Aug 21
Bidco to Procure That Inspired Makes an Application to the London Stock Exchange for the Cancellation of the Admission to Trading of Inspired Shares on AIM On 26 June 2025, the boards of directors of each of Intrepid Bidco Limited ("Bidco") and Inspired PLC ("Inspired") announced that they had reached agreement on the terms of a recommended cash offer pursuant to which Bidco, a newly formed company owned indirectly by funds managed and/or advised by HGGC, LLC and its affiliates ("HGGC"), would acquire the entire issued and to be issued share capital of Inspired (the "Offer"). On 15 August 2025, Bidco announced that the Offer has been declared Unconditional and that each of the Rule 15 Proposals were declared unconditional accordingly. Bidco further announced that the Offer and the Rule 15 Proposals will remain open for acceptances until further notice. As the Offer has been declared Unconditional and Bidco has acquired more than 75% the Inspired Shares, Bidco will procure that Inspired makes an application to the London Stock Exchange for the cancellation of the admission to trading of Inspired Shares on AIM, such cancellation to be effective on completion of the squeeze-out process. It is anticipated that, subject to any applicable requirements of the London Stock Exchange, cancellation of admission to trading of Inspired Shares on AIM shall take effect no earlier than 20 Business Days after such application is made or completion of the squeeze-out process. If Bidco receives: (i) acceptances under the Offer in respect of, and/or otherwise acquires, 90% or more of the Inspired Shares to which the Offer relates; and (ii) acceptances under the Warrant Offer in respect of, and/or otherwise acquires, 90% or more of the Inspired Warrants to which the Warrant Offer relates, Bidco intends to exercise its rights pursuant to the provisions of Chapter 3 of Part 28 of the Companies Act to acquire compulsorily any Inspired Shares and/or Inspired Warrants (as applicable) not acquired or agreed to be acquired by or on behalf of Bidco pursuant to the Offer or Warrant Offer (as applicable) or otherwise on the same terms as the Offer or Warrant Offer (as applicable). Following the Inspired Shares having been de-listed, Bidco intends to procure that Inspired shall be re-registered as a private company. Announcement • Jun 29
Inspired Plc Announces Board Changes Inspired announced that, following notification on 14 April 2025 of his intention to step down from his role as Non-Executive Chair of Inspired at the conclusion of Inspired's AGM today, Richard Logan has stepped down from the position. The Board announced that Sangita Shah has been appointed as Non-Executive Chair on an interim basis. Sangita has served on the Inspired Board for four years as an independent Non-Executive Director and Chair of the Remuneration Committee, and including two years as Senior Independent Director ("SID"). The Board intends to conduct a process to appoint a permanent Non-Executive Chair when the Company ceases to be in an "offer period", as defined in the Takeover Code. Additionally, Dianne Walker, who has served as an Inspired independent Non-Executive Director and Chair of the Audit & Risk Committee for four years, has been appointed by the Board to the role of SID. Announcement • Jun 26
Inspired to Re-Register as Private After Merger Completion The boards of directors of Intrepid Bidco Limited ("Bidco") and Inspired PLC ("Inspired") announced that they have reached agreement on the terms and conditions of a recommended all cash offer to be made by Bidco for the entire issued, and to be issued, share capital of Inspired, to be implemented by way of a takeover offer within the meaning of Chapter 3 of Part 28 of the Companies Act (the "Offer"). If Bidco receives acceptances under the Offer in respect of, and/or otherwise acquires, 90% or more of the Inspired Shares to which the Offer relates, Bidco intends to exercise its rights pursuant to the provisions of Chapter 3 of Part 28 of the Act to acquire compulsorily any Inspired Shares not acquired or agreed to be acquired by or on behalf of Bidco pursuant to the Offer or otherwise on the same terms as the Offer. After the Offer becomes or is declared unconditional and if Bidco has, by virtue of its shareholdings (and the shareholdings of its wholly-owned subsidiaries) and acceptances of the Offer, acquired or agreed to acquire issued share capital carrying 75% or more of the voting rights of Inspired(or the appropriate special resolutions are otherwise passed), it is intended that Bidco shall procure that Inspired makes an application to the London Stock Exchange for the cancellation of the admission to trading of Inspired Shares on AIM. It is also intended that following the Offer becoming or being declared wholly unconditional and the admission to trading on AIM of Inspired Shares having been cancelled, Bidco intends to procure that Inspired is re-registered as a private limited company under the relevant provisions of the Companies Act. Should Bidco not receive sufficient acceptances to the Offer to proceed with procuring such application for the cancellation of the admission to trading of Inspired Shares on AIM, then Bidco currently intends for Inspired to remain a public company and for Inspired Shares to remain admitted to trading on AIM, but for Inspired to comply only with the minimum requirements prescribed by applicable laws for public companies with shares admitted to trading on AIM. Upcoming Dividend • Jun 12
Upcoming dividend of UK£0.01 per share Eligible shareholders must have bought the stock before 19 June 2025. Payment date: 25 July 2025. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (2.6%). Announcement • May 28
Unknown funds managed by HGGC, LLC proposed to acquire Inspired Plc (AIM:INSE) from Gresham House Asset Management Limited and others. Unknown funds managed by HGGC, LLC proposed to acquire Inspired Plc (AIM:INSE) from Gresham House Asset Management Limited and others on May 28, 2025. Under the terms of the Offer, each Inspired Shareholder will be entitled to receive: for each Inspired Share: £0.81 in cash. As of May 28, 2025, the Board announced that it had received confirmation from Gresham House Asset Management Limited (which holds or controls voting rights over 47,467,403 Inspired shares, representing 29.73% of Inspired's issued share capital) that, should a recommended firm offer be made, it currently intends to accept such an offer.
Evercore Partners International LLP acted as financial advisor for Inspired Plc. Shore Capital and Corporate Limited acted as financial advisor for Inspired Plc. Announcement • May 27
HGGC Managed Funds and Affiliates Are in Discussions with Inspired Regarding A Possible Cash Offer The Boards of Inspired Plc (AIM:INSE) and HGGC, LLC announced that funds managed and/or advised by HGGC, LLC and its affiliates ("HGGC") are in detailed discussions with Inspired regarding a possible cash offer of 81p per Inspired share, to be made by HGGC and/or a newly formed entity controlled by HGGC for the entire issued and to be issued share capital of Inspired (the "HGGC Superior Proposal"). HGGC is the third party that was referenced in the response document published by Inspired on 21 May 2025 in response to the unsolicited offer for the Company from Regent Acquisitions 2025 Limited ("Regent") which the Board of Inspired has unanimously recommended that shareholders reject. It is expected that the HGGC Superior Proposal would be structured as a takeover offer (as defined in Chapter 3 of Part 28 of the Companies Act 2006 (the "Act")) with an acceptance condition set at a level that would be capable of being satisfied without requiring Regent or any affiliated entity to accept the offer in respect of its existing interests in the Company's shares. It is also expected that HGGC would reserve the right to implement the HGGC Superior Proposal as a Scheme of Arrangement pursuant to Part 26 of the Act with the consent of the Takeover Panel and with the Company's agreement. The Board of Inspired has indicated to HGGC that, should a firm offer be made on the financial terms of the HGGC Superior Proposal and with an acceptance condition set at this level, it would be minded to recommend such an offer to Inspired shareholders, subject to the agreement of the other terms of the offer. The Board of Inspired has considered, in particular, the potential effects of the offer by Regent Acquisitions 2025 Limited ("Regent's Offer") on the Company's business and potential future market value. HGGC intends to reduce the terms of the HGGC Superior Proposal by the amount of the final dividend for the year ended 31 December 2024 of 1p per Inspired Share proposed by the Inspired Directors on 31 March 2025 (the "Final Dividend") if paid. In light of this, the Board of Inspired would be minded to withdraw the Final Dividend, should a firm offer be made on the financial terms of the HGGC Superior Proposal. There can be no certainty that an offer will be made. A further announcement will be made when appropriate. Inspired shareholders are urged to take no action in respect of Regent's Offer. The person responsible for arranging this announcement on behalf of Inspired is Paul Connor, Chief Financial Officer. New Risk • May 23
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • May 16
Inspired Plc, Annual General Meeting, Jun 27, 2025 Inspired Plc, Annual General Meeting, Jun 27, 2025. Location: the offices of gateley legal, ship canal house, 98 king street, m2 4wu, manchester United Kingdom Announcement • Apr 24
Regent Acquisitions Ltd proposed to acquire 70.64% stake in Inspired Plc (AIM:INSE) for £77.2 million. Regent Acquisitions Ltd proposed to acquire 70.64% stake in Inspired Plc (AIM:INSE) for £77.2 million on April 22, 2025. Under the terms of the Offer, each Inspired Shareholder will be entitled to receive: for each Inspired Share: £0.685 in cash (the "Cash Consideration"). The Offer will be financed from the existing cash resources of Regent. Regent intends to retain the current headquarters and headquarter functions, operations and places of business of Inspired. Regent confirms that the existing contractual and statutory employment rights, including in relation to pensions, of Inspired's management and employees will be fully safeguarded in accordance with applicable law. Regent Acquisitions 2025 Limited ("Regent") is pleased to announce a cash offer to acquire the entire issued and to be issued share capital ofInspired PLC ("Inspired" or the "Company") ("Inspired Shares") not already held by any member of the Wider Regent Group. Regent Gas Holdings Limited, a member of the Wider Regent Group approximately 29.36% of Inspired's issued ordinary share capital.
The Offer will be subject to the applicable requirements of the City Code and the Panel. The Offer is conditional upon valid acceptances of the Offer having been received (and not validly withdrawn in accordance with the rules and requirements of the Code and the terms of the Offer) by no later than 1.00pm (London time) on the First Closing Date (or such later times and/or dates as Regent may specify, subject to the rules of the Code and where applicable with the consent of the Panel) in respect of such number of Inspired Shares which, when aggregated with the Inspired Shares held by Regent, or any person acting in concert with Regent, at the date of the Offer and any Inspired Shares acquired or agreed to be acquired by Regent, or any person acting in concert with Regent, on or after such date, carry more than 50% of the voting rights then exercisable at a general meeting of Inspired, including for this purpose any such voting rights attaching to Inspired Shares that are unconditionally allotted but not issued before the Offer becomes or is declared unconditional whether pursuant to the exercise of any outstanding subscription or conversion rights or otherwise. For the purpose of this condition, Inspired Shares which have been unconditionally allotted shall be deemed to carry the voting rights they will carry upon being entered into the register of members of Inspired. The Acceptance Condition cannot be waived. The Offer will therefore be subject to the satisfaction of the Acceptance Condition, to the further terms set out in this Part B, and full terms which will be set out in the Offer Document and (for Inspired Shares held in certificated form), the Form of Acceptance. Under Rule 13.5(a) of the Code, Regent may not invoke a condition to the Offer so as to cause the Offer not to proceed, to lapse or to be withdrawn unless the circumstances which give rise to the right to invoke the condition are of material significance to Regent in the context of the Offer. The Acceptance Condition is not subject to Rule 13.5(a) of the Code. The Offer will remain open for acceptance, subject to the terms of the Offer to be set out in more detail in the Offer Document, until 1.00 pm on the 21st day after the date of publication of the Offer Document or (if that day is a Saturday, Sunday or a public holiday) on the next succeeding business day (the "First Closing Date"). Regent, at its sole discretion, may extend the Offer beyond the First Closing Date, and will make a further announcement at that time. As of April 23, 2025, the Board of Inspired Plc unanimously believes that the Offer fundamentally undervalues Inspired as the board believes the Regent offer represents only a 12% premium to the closings hare price of Inspired prior to the announcement and is pitched at a level below where the shares were trading only last month. The Board is receiving financial advice from Evercore and will make its formal response to the Offer in due course. The Board urges shareholders not to take any action at this time.
Matt Davis of SPARK Advisory Partners Limited acted as financial adviser to Regent. Simmons & Simmons LLP is acting as legal adviser to Regent. Ed Banks, Dimi Georgiou and Wladimir Wallaert of Evercore Partners International LLP and Patrick Castle, James Thomas and Sophie Collins of Shore Capital Stockbrokers Limited acted as financial adviser for Inspired Plc. Announcement • Apr 14
Inspired Plc Announces Step Down of Richard Logan as Non-Executive Chairman Inspired Plc announced that, after more than eight years as a non-executive director, with the last four years as the non-executive chairman of the company, Richard Logan has informed the Board that he intends to step down with effect from the conclusion of the company's annual general meeting to be held in June 2025. Declared Dividend • Apr 02
Final dividend reduced to UK£0.01 Dividend of UK£0.01 is 33% lower than last year. Ex-date: 19th June 2025 Payment date: 25th July 2025 Dividend yield will be 4.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (42% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 31
Full year 2024 earnings released: EPS: UK£0.093 (vs UK£0.072 loss in FY 2023) Full year 2024 results: EPS: UK£0.093 (up from UK£0.072 loss in FY 2023). Revenue: UK£93.8m (down 5.0% from FY 2023). Net income: UK£9.63m (up UK£16.8m from FY 2023). Profit margin: 10% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Announcement • Mar 31
Inspired plc Proposes Final Dividend, Payable on July 25, 2025 Inspired Plc proposed final dividend of 1.0 pence, (2023: 1.5 pence), reflecting the increased share capital, resulting in full year dividend of 2.45 pence (2023: 2.90 pence) maintaining the absolute cash distribution levels. The dividend represents a resetting of dividend per share after the new ordinary share placing in January 2025, whilst maintaining the expected absolute cash distribution levels. The dividend will be payable on 25 July 2025 to all shareholders on the register on 20 June 2025 and the shares will go ex-dividend on 19 June 2025. New Risk • Mar 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Minor Risks High level of debt (88% net debt to equity). Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. New Risk • Jan 15
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 58% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Minor Risks High level of debt (88% net debt to equity). Dividend is not well covered by earnings (269% payout ratio). Share price has been volatile over the past 3 months (8.1% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (UK£78.2m market cap, or US$95.6m). Announcement • Dec 19
Inspired Plc has completed a Follow-on Equity Offering in the amount of £0.410214 million. Inspired Plc has completed a Follow-on Equity Offering in the amount of £0.410214 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 1,025,535
Price\Range: £0.4 Announcement • Dec 18
Inspired Plc has filed a Follow-on Equity Offering in the amount of £21.25 million. Inspired Plc has filed a Follow-on Equity Offering in the amount of £21.25 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 53,125,000
Price\Range: £0.4
Security Features: Attached Warrants
Transaction Features: Subsequent Direct Listing Announcement • Dec 17
Inspired Plc has completed a Follow-on Equity Offering in the amount of £21.25 million. Inspired Plc has completed a Follow-on Equity Offering in the amount of £21.25 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 53,125,000
Price\Range: £0.4
Security Features: Attached Warrants
Transaction Features: Subsequent Direct Listing New Risk • Dec 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (88% net debt to equity). Dividend is not well covered by earnings (269% payout ratio). Share price has been volatile over the past 3 months (8.3% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Market cap is less than US$100m (UK£43.2m market cap, or US$54.5m). Announcement • Dec 02
Inspired plc Provides Revenue Guidance for the Fiscal Year 2025 Inspired Plc provided revenue guidance for the fiscal year 2025. For the year, the company Increased confidence in FY25 as project revenue moves into FY25. Upcoming Dividend • Oct 03
Upcoming dividend of UK£0.015 per share Eligible shareholders must have bought the stock before 10 October 2024. Payment date: 13 December 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.5%. Within top quartile of British dividend payers (5.5%). Higher than average of industry peers (2.5%). Declared Dividend • Sep 15
First half dividend increased to UK£0.015 Dividend of UK£0.015 is 3.6% higher than last year. Ex-date: 10th October 2024 Payment date: 13th December 2024 Dividend yield will be 5.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (26% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. Announcement • Sep 12
Inspired Plc Announces Interim Dividend for the Six Months Ended 30 June 2024, Payable on 13 December 2024 The Board of Inspired Plc announced an interim dividend of 1.45 pence per share (first half 2023: 1.40 pence), The dividend aligns with the Board's stated policy of a dividend cover of at least 3x earnings, with the objective of delivering progressive dividend growth over time. The dividend will be payable on 13 December 2024 to all shareholders on the register on 11 October 2024 and the shares will go ex-dividend on 10 October 2024. Announcement • Aug 16
Inspired Plc to Report First Half, 2024 Results on Sep 12, 2024 Inspired Plc announced that they will report first half, 2024 results on Sep 12, 2024 New Risk • Jun 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£78.4m (US$99.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (8.7% average weekly change). Shareholders have been diluted in the past year (4.8% increase in shares outstanding). Market cap is less than US$100m (UK£78.4m market cap, or US$99.1m). Upcoming Dividend • Jun 13
Upcoming dividend of UK£0.015 per share Eligible shareholders must have bought the stock before 20 June 2024. Payment date: 26 July 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.5%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (2.0%). New Risk • May 28
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (8.9% average weekly change). Shareholders have been diluted in the past year (4.8% increase in shares outstanding). Announcement • May 15
Inspired Plc, Annual General Meeting, Jun 28, 2024 Inspired Plc, Annual General Meeting, Jun 28, 2024. Location: the offices of gateley legal, ship canal house, 98 king street, m2 4wu, manchester United Kingdom Declared Dividend • Mar 28
Final dividend of UK£0.015 announced Shareholders will receive a dividend of UK£0.015. Ex-date: 20th June 2024 Payment date: 26th July 2024 Dividend yield will be 4.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (35% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Reported Earnings • Mar 26
Full year 2023 earnings released: UK£0.072 loss per share (vs UK£0.037 loss in FY 2022) Full year 2023 results: UK£0.072 loss per share (further deteriorated from UK£0.037 loss in FY 2022). Revenue: UK£98.8m (up 11% from FY 2022). Net loss: UK£7.16m (loss widened 97% from FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. Announcement • Jan 31
Inspired plc Provides Earnings Guidance for the Financial Year Ended 31 December 2023 Inspired Plc provided earnings guidance for the financial year ended 31 December 2023. For the year, the group revenue is expected to be 11% ahead of fiscal year of 2022, at £98.7 million. The Group traded strongly in fiscal 2023 with a shift in product mix within the Optimisation Division driving a higher margin contribution from the revenue generated in that division. Board Change • Nov 26
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Peter Tracey was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Oct 05
Upcoming dividend of UK£0.014 per share at 3.9% yield Eligible shareholders must have bought the stock before 12 October 2023. Payment date: 08 December 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.9%. Lower than top quartile of British dividend payers (6.5%). Higher than average of industry peers (1.7%). Reported Earnings • Sep 15
First half 2023 earnings released: UK£0.007 loss per share (vs UK£0.02 profit in 1H 2022) First half 2023 results: UK£0.007 loss per share (down from UK£0.02 profit in 1H 2022). Revenue: UK£44.6m (up 10% from 1H 2022). Net loss: UK£668.0k (down 135% from profit in 1H 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Sep 12
Inspired Plc Announces Interim Dividend for the Six Months Ended 30 June 2023, Payable on 8 December 2023 The Board of Inspired Plc announced an interim dividend of 1.4 pence per share (first half 2022: 1.3 pence), with the first half 2022 figure adjusted to reflect the 10:1 share consolidation undertaken on 3 July 2023. The interim dividend will be paid on 8 December 2023 to all shareholders on the register at close of business on 13 October 2023. The shares will be marked ex-dividend on 12 October 2023. Announcement • Aug 09
Inspired Plc to Report First Half, 2023 Results on Sep 11, 2023 Inspired Plc announced that they will report first half, 2023 results on Sep 11, 2023 Buying Opportunity • Jun 26
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be UK£0.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years, while earnings per share has been flat. New Risk • Jun 19
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Earnings have declined by 36% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Shareholders have been diluted in the past year (3.0% increase in shares outstanding). Announcement • Jun 06
Inspired Plc, Annual General Meeting, Jun 30, 2023 Inspired Plc, Annual General Meeting, Jun 30, 2023, at 09:00 Coordinated Universal Time. Location: Ship Canal House, 98 King Street, Manchester, M2 4WU Manchetser United Kingdom Reported Earnings • Mar 30
Full year 2022 earnings released: UK£0.004 loss per share (vs UK£0.002 profit in FY 2021) Full year 2022 results: UK£0.004 loss per share (down from UK£0.002 profit in FY 2021). Revenue: UK£88.8m (up 31% from FY 2021). Net loss: UK£3.63m (down 322% from profit in FY 2021). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions • Feb 03
CEO & Executive Director recently bought UK£50k worth of stock On the 30th of January, Mark Dickinson bought around 480k shares on-market at roughly UK£0.10 per share. This transaction amounted to 7.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Mark's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Feb 02
CEO & Executive Director exercised options to buy UK£351k worth of stock. On the 30th of January, Mark Dickinson exercised options to buy 4m shares at a strike price of around UK£0.12, costing a total of UK£449k. This transaction amounted to 119% of their direct individual holding at the time of the trade. Since June 2022, Mark has owned 2.54m shares directly. Company insiders have collectively bought UK£784k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jan 30
Inspired Plc to Report Fiscal Year 2022 Results on Mar 29, 2023 Inspired Plc announced that they will report fiscal year 2022 results on Mar 29, 2023 Price Target Changed • Nov 16
Price target decreased to UK£0.22 Down from UK£0.24, the current price target is an average from 2 analysts. New target price is 143% above last closing price of UK£0.09. Stock is down 47% over the past year. The company posted earnings per share of UK£0.0017 last year. Reported Earnings • Sep 07
First half 2022 earnings released: EPS: UK£0.002 (vs UK£0.001 in 1H 2021) First half 2022 results: EPS: UK£0.002 (up from UK£0.001 in 1H 2021). Revenue: UK£40.4m (up 24% from 1H 2021). Net income: UK£1.92m (up 154% from 1H 2021). Profit margin: 4.7% (up from 2.3% in 1H 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Price Target Changed • Apr 27
Price target decreased to UK£0.24 Down from UK£0.28, the current price target is an average from 3 analysts. New target price is 66% above last closing price of UK£0.15. Stock is down 12% over the past year. The company posted earnings per share of UK£0.0017 last year. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: UK£0.002 (vs UK£0.007 loss in FY 2020) Full year 2021 results: EPS: UK£0.002 (up from UK£0.007 loss in FY 2020). Revenue: UK£67.9m (up 47% from FY 2020). Net income: UK£1.64m (up UK£7.37m from FY 2020). Profit margin: 2.4% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 12%, compared to a 9.6% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Recent Insider Transactions Derivative • Jul 18
CEO & Director exercised options and sold UK£668k worth of stock On the 15th of July, Mark Dickinson exercised options to acquire 4m shares at no cost and sold these for an average price of UK£0.19 per share. This trade did not impact their existing holding. For the year to December 2020, Mark's total compensation was 50% salary and 50% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2020, Mark has owned 1.27m shares directly. Company insiders have collectively sold UK£1.2m more than they bought, via options and on-market transactions in the last 12 months. Executive Departure • Jul 13
Non-Executive Chairman Michael Fletcher has left the company On the 30th of June, Michael Fletcher's tenure as Non-Executive Chairman ended after 4.8 years in the role. As of March 2021, Michael still personally held only 215.00k shares (UK£35k worth at the time). A total of 2 executives have left over the last 12 months. Price Target Changed • Jan 07
Price target lowered to UK£0.25 Down from UK£0.28, the current price target is an average from 2 analysts. The new target price is 82% above the current share price of UK£0.14. As of last close, the stock is down 29% over the past year. Announcement • Dec 13
Andrew Nuttall, Managing Director acquired Energisave Online Limited/KWH Consulting Limited/Simply Business Energy Limited in a management buyout transaction from Inspired Energy PLC (AIM:INSE) for £10.5 million. Andrew Nuttall, Managing Director acquired Energisave Online Limited/KWH Consulting Limited/Simply Business Energy Limited in a management buyout transaction from Inspired Energy PLC (AIM:INSE) for £10.5 million on December 11, 2020. As per the transaction, Andrew Nuttall will become a supplier to the Inspired Energy PLC to enable a continuation of that service provision. As on December 31, 2019, Energisave Online Limited, KWH Consulting Limited and Simply Business Energy Limited has combined revenues of £5.6 million, adjusted EBITDA of £1.9 million and net assets of £7.9 million. Shore Capital and Corporate Limited acted as financial advisor of Inspired Energy PLC.
Andrew Nuttall, Managing Director completed the acquisition of Energisave Online Limited/KWH Consulting Limited/Simply Business Energy Limited in a management buyout transaction from Inspired Energy PLC (AIM:INSE) on December 11, 2020. Announcement • Aug 20
Inspired Energy PLC to Report First Half, 2020 Results on Sep 09, 2020 Inspired Energy PLC announced that they will report first half, 2020 results on Sep 09, 2020