LONDON (Alliance News) - Energy technology company Inspirit Energy Holdings PLC said Wednesday David Lenigas has been appointed a non-executive chairman, with its current executive chairman, John Gunn, becoming executive director and chief executive officer.
The Sheffield-based company is developing a micro combined heat-and-power boiler technology for the commercial and residential markets.
Lenigas has previous been executive chairman of Lonrho PLC, during which time the company expanded significantly in Africa. He currently holds a number of directorships in other energy companies, including Rare Earth Minerals PLC, Leni Gas & Oil PLC, AfriAg PLC, and Solo Oil PLC.
Lenigas holds 3 million Inspirit shares, representing less than 1% of the company, together with 1.5 million warrants exercisable at a price of 1 pence per share and has provided Inspirit with a draw down equity facility for up to GBP70,000.
Shares in Inspirit are up 0.13 pence, or 4.7%, Wednesday morning to 3.01p, after retreating from 52-week high of 3.50p earlier Wednesday.
By Philip Nye; philipnye@alliancenews.com;
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Inspirit Energy (INSP)