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LONDON - Regent Acquisitions 2025 Limited has received acceptances for only 0.17% of Inspired PLC’s issued share capital in its ongoing cash offer, according to an update released Wednesday.
The company announced that as of 1:00 p.m. London time on August 6, valid acceptances had been received for 266,664 Inspired shares. Combined with Regent’s existing holding of 46,865,710 shares, the company would control approximately 29.52% of Inspired’s issued share capital if the offer becomes unconditional.
Regent previously announced on July 25 that it would invoke the Acceptance Condition, causing the offer to lapse if the required level of acceptances is not met by 1:00 p.m. on August 8.
The company has also submitted a conditional letter of intent to accept a competing offer from Intrepid Bidco if its own bid lapses on August 8.
Regent Gas Holdings Limited, part of the Wider Regent Group, currently owns 29.36% of Inspired’s share capital and holds warrants that could be exercised for an additional 20 million shares, as well as convertible loan notes that could convert to 2.5 million shares.
The all-cash offer for Inspired was initially announced on April 22, with the offer document published on May 7.
Inspired shareholders who have not yet accepted the offer are encouraged to review the offer document and seek independent financial advice, according to the company’s press release statement.
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