A pair of plane parallel grids is inserted in a hot plasma, and an oscillatory voltage is applied across them. The electric field excited in the plasma, and the complex admittance of the grid/plasma system, are computed for applied frequencies high enough to justify neglect of ion response. The grids are electrically, but not mechanically, coupled to the plasma, which is assumed to be in a spatially uniform collision free Maxwellian equilibrium state. The field is computed as a function of distance from the grid plates over a range of frequencies covering the plasma frequency, and the complex admittance of the system is computed as a function of frequency at various grid separation distances. The real component of the field and the capacitive component of the admittance are subject to three major effects: cold plasma dielectric behaviour, oscillatory Debye sheaths on the grids, and (above the plasma frequency), longitudinal plasma waves. The imaginary field component and the conductive admittance component are produced by spatial Landau damping. In an accompanying paper (Freeston 1968), the computed admittance is compared with laboratory measurements made in a situation approximating well to the idealized problem considered here.