During the financial year ended 30
th June 2020, Inspirit Energy Holdings plc has maintained its focus on the application of the Stirling engine in various sectors as well as progressing the commercialisation efforts of the Group s micro combined heat and power ( mCHP ) boilers amidst the backdrop of the challenges posed by the COVID-19-pandemic. Despite these market headwinds, the Inspirit achieved a number of significant milestones including the signing of a letter of support with world-leading marine engine manufacturer Volvo Penta for the development of a Waste Heat Recovery system as well as entering discussions with a leading gasification technology company regarding a possible collaboration.
Proposed Cancellation to Trading on AIM, Publication of Circular and Notice to convene the Annual General Meeting ( AGM ) The Company has today published a Circular incorporating its Notice of AGM with the proposal to, amongst other matters, seek Shareholders approval to de-list the Company from AIM pursuant to AIM Rule 41 (the Cancellation ) and re-register as a private company (the Re-registration ). The Directors have conducted a review of the various benefits and drawbacks to the Company and its Shareholders in relation to retaining its listing on AIM. The Directors unanimously believe that a potential Cancellation is in the best interest of the Company and its Shareholders, and have considered the following key factors (amongst others) in reaching a decision: