Holding(s) in Company

RNS Number : 6776O

Infrastrata PLC

08 November 2016

 

8 November 2016                             

InfraStrata plc

("InfraStrata" or the "Company")

Holding in Company

InfraStrata plc (AIM: INFA), the gas storage company focused on the UK and Ireland, was informed today that Mr Alan Booth's shareholding in the Company fell below 3 per cent. as a result of dilution from the issue of ordinary shares by the Company on 27 January 2016 and further, that he no longer has a notifiable interest in the Company's issued share capital.

For further information please contact:

InfraStrata plc

Andrew Hindle, Chief Executive Officer                                                                   020 8332 1200

Stewart McGarrity, Finance Director

Anita Gardiner, Commercial Development Director

Nominated Adviser and Broker - Allenby Capital Limited

Jeremy Porter / Alex Brearley / Liz Kirchner                                                           020 3328 5656

Financial PR - Camarco

Billy Clegg / Gordon Poole                                                                                    020 3757 4980

Notes:

Background on InfraStrata plc

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 company, Islandmagee Storage Limited ("IMSL"), is owned 90% by a wholly owned subsidiary of InfraStrata plc and 10% by a wholly owned subsidiary of Mutual Energy Limited. The project is a proposed salt cavern gas storage facility located on Islandmagee in County Antrim, Northern Ireland. 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 October 2013, the gas storage project was granted a 'Project of Common Interest' ("PCI") status by the European Commission. In 2015 a well was drilled to core the salt and confirm the technical feasibility of the project, supported in part by the Commission. The final stage before a Final Investment Decision will be the Front-End Engineering Design and Commercialisation of the project. To date approximately £11m has been invested in the project.

Further information is available on the project company's websitewww.islandmageestorage.com.

 

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