Energy company feeling Inspired as it joins AIM

A BRITISH energy consultancy will list on the Alternative Investment Market (AIM) today with a £10.6m value. Inspired Energy, an energy procurement and management firm, raised £3.4m before expenses with a placing of 111,651,668 ordinary shares at 3p each.
The firm, set up by Janet Thornton in 2000, works with energy intensive corporates and advises and procures gas and electricity for its customers.

“Joining AIM today provides Inspired Energy with an excellent springboard for the company’s next phase of growth”, Thornton said.

The firm, based in Kirkham, Lancashire, generated revenue of £2.86m for the year to June.

The share prospectus shows Inspired’s directors are subject to a lock-in which means they cannot sell their stake until the 2014 results are published, unless there is a surge in demand for the stock from institutional investors.