Director shareholding

RNS Number : 8966A

Infrastrata PLC

17 September 2018

 

17 September 2018

InfraStrata plc

("InfraStrata" or the "Company")

Director shareholding

InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, has been informed that Matthew Beardmore (Non-Executive Director) has transferred a number of his InfraStrata shares into his ISA (individual savings account) and whereby a net 6,621 ordinary shares were disposed of at a price of £0.00590 per share to the cover the costs of such transfer. As a result of this transaction, Mr Beardmore is now beneficially interested in 6,659,571 ordinary shares of 0.01p each in the Company, equivalent to 0.63% of the Company's issued share capital.   

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Matthew Beardmore
2	Reason for the notification
a)	Position/status	Non-Executive Director (PDMR)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	InfraStrata plc
b)	LEI	2138001JAP311MVUZ948
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 0.01p GB00B28YMP66
b)	Nature of the transaction	sale of 3,390,000 ordinary shares purchase of 3,383,379 ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00590 3,390,000 £0.005908 3,383,379
d)	Aggregated information - Aggregated volume - Price	n/a
e)	Date of the transaction	13 September 2018
f)	Place of the transaction	London Stock Exchange

 For further information, please contact:

InfraStrata plc John Wood, Chief Executive	c/o Yellow Jersey [phone]
Allenby Capital Limited (AIM Nominated Adviser & Joint Broker) Jeremy Porter / Alex Brearley / Liz Kirchner	[phone]
SI Capital Limited (Joint Broker) Nick Emerson	[phone]
Yellow Jersey Tim Thomson	[phone]

-ENDS-

Notes to editors:

InfraStrata is an independent gas storage company focused on the UK and Ireland. Further information is available on the Company's website: www.infrastrata.co.uk.

Background on the Islandmagee Storage Project

The Islandmagee gas storage project is a proposed salt cavern gas storage facility located on Islandmagee in County Antrim, Northern Ireland. The Board of InfraStrata believes that the proposed 500 million cubic metres Natural Gas Cavern Storage facility will provide over 25% of the UK's Natural Gas Storage once constructed, and will be situated adjacent to the Scotland Northern Ireland (gas) Pipeline (SNIP) and the Moyle 500 Megawatt Electricity Interconnector. Work commenced in 2007 with the acquisition of 3D seismic data to image the Permian salt in the Larne Lough area. During 2012, planning permission was granted for the project and a gas storage licence was issued by the Utility Regulator. In 2015 a well was drilled to core the salt and confirm the technical feasibility of the project, supported in part by the European Commission. The Front End Engineering and Design (FEED) element of the Project is scheduled for completion by the end of 2018. To date approximately £11.5m has been invested in the project.

Further information is available on the company's website: www.infrastrata.co.uk

The Front End Engineering & Design (FEED) and Insitu Downhole Testing programme for the Islandmagee gas storage project is co-financed by the European Union's Connecting Europe Facility.

Disclaimer releasing the European Union from any liability in terms of the content of the dissemination materials:

"The sole responsibility of this publication lies with the author. The European Union is not responsible for any use that may be made of the information contained therein."

 

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