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LONDON - Regent Acquisitions 2025 Limited announced Tuesday that its all-cash offer for Inspired PLC has lapsed after failing to meet the required acceptance threshold by the August 8 deadline.
The offer, which was conditional upon receiving valid acceptances representing more than 50% of Inspired’s voting rights, garnered acceptances for only 266,664 shares, approximately 0.17% of Inspired’s issued share capital.
Including Regent’s existing holding of 46,865,710 Inspired shares, the company could count only 29.52% of shares toward the acceptance condition, falling well short of the required majority.
Following the lapse of its offer, Regent confirmed it now intends to accept the competing offer from Intrepid Bidco for its 29.36% stake in Inspired. Regent will also accept Intrepid Bidco’s proposals regarding the 20 million Inspired warrants and 2.5 million convertible loan notes currently held by the wider Regent Group.
Shareholders who had accepted Regent’s offer are no longer bound by their acceptances. For those holding certificated shares, acceptance forms and share certificates will be returned within seven days. For uncertificated shares, transfer instructions to release shares held in CREST escrow balances will be issued immediately.
The lapsed offer follows Regent’s July 25 announcement that it would invoke the acceptance condition to terminate the offer if the threshold was not met by August 8.
Regent initially published its offer document on May 7, 2025, setting out the terms of its proposed acquisition.
This article is based on a press release statement from Regent Acquisitions 2025 Limited.
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