StockMarketWire.com - Inspired Energy said it had raised £19.0m via a share placement to acquire rival energy services consultancy Inprova Finance.

New shares in the company were issued at 16.5p each.

Inspired said completion of the placing was not conditional on it completing the Inprova deal, though it said it was highly unlikely the transaction would fail.

If, however, the deal did fail it would use proceeds 'in a way which is in the best interests of the shareholders as a whole.'

At 1:30pm: [LON:INSE] Inspired Energy PLC share price was +0.2p at 16.85p

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