PDMR/PCA Notification

RNS Number : 3162N

Infrastrata PLC

16 January 2019

 

16 January 2019

InfraStrata plc

("InfraStrata" or the "Company")

Notification of Transactions of Persons Discharging Managerial Responsibilities (PDMRs) and Persons Closely Associated (PCAs) with PDMRs

InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, has been informed of the following transfers of ordinary shares of 0.01p each in the Company ("Ordinary Shares") by PCAs of Andy Duncan, CFO and a PDMR of InfraStrata. Mr Duncan's total beneficial interest in 2,804,172 Ordinary Shares in InfraStrata remains unchanged, equivalent to 0.25% of the Company's issued share capital.

As announced on 24 July 2018, 2,804,172 Ordinary Shares were allotted to Mr Duncan in respect of a consultancy agreement. These shares were issued to Semper Consulting Limited ("Semper Consulting"), a company jointly owned by Mr Duncan and his wife and therefore a PCA of Mr Duncan. On 26 July 2018, these shares were transferred from Semper Consulting as a dividend to Mr Duncan's wife for nil consideration. On 13 January 2019, half of these shares were transferred to Mr Duncan for nil consideration.

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	Semper Consulting Limited
2	Reason for the notification
a)	Position/status	Semper Consulting Limited is a person closely associated with Andrew David Duncan, CFO and a PDMR of InfraStrata plc
b)	Initial notification /Amendment	Amendment
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	Award of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.2653p 0.2503p 0.4223p 0.4138p 0.4248p 753,953  799,085  473,620  483,268  294,246
d)	Aggregated information - Aggregated volume - Price	2,804,172   average price of 0.3299p
e)	Date of the transaction	23 July 2018
f)	Place of the transaction	Outside a trading venue - award of Ordinary shares

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	Semper Consulting Limited
2	Reason for the notification
a)	Position/status	Semper Consulting Limited is a person closely associated with Andrew David Duncan, CFO and a PDMR of InfraStrata plc
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	Transfer of ordinary shares to Andrew Duncan's wife (a PCA of Andrew Duncan)
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil consideration 2,804,172
d)	Aggregated information - Aggregated volume - Price	n/a
e)	Date of the transaction	26 July 2018
f)	Place of the transaction	Outside a trading venue - transfer of shares

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	Mrs Annabel Mary Duncan
2	Reason for the notification
a)	Position/status	Mrs Annabel Mary Duncan is a person closely associated with Andrew David Duncan, CFO and a PDMR of InfraStrata plc
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	Transfer of ordinary shares from Semper Consulting Limited (a PCA of Andrew Duncan)
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil consideration 2,804,172
d)	Aggregated information - Aggregated volume - Price	n/a
e)	Date of the transaction	26 July 2018
f)	Place of the transaction	Outside a trading venue - transfer of shares

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	Mrs Annabel Mary Duncan
2	Reason for the notification
a)	Position/status	Mrs Annabel Mary Duncan is a person closely associated with Andrew David Duncan, CFO and a PDMR of InfraStrata plc
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	Transfer of ordinary shares to Andrew David Duncan, CFO and a PDMR of InfraStrata plc
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil consideration 1,402,086
d)	Aggregated information - Aggregated volume - Price	n/a
e)	Date of the transaction	13 January 2019
f)	Place of the transaction	Outside a trading venue - transfer of shares

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	Andrew David Duncan
2	Reason for the notification
a)	Position/status	Chief Financial Officer (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	Transfer of ordinary shares from Mrs Annabel Mary Duncan (PCA of Andrew Duncan)
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil consideration 1,402,086
d)	Aggregated information - Aggregated volume - Price	n/a
e)	Date of the transaction	13 January 2019
f)	Place of the transaction	Outside a trading venue - transfer of shares

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 / Liz Kirchner	[phone]
SI Capital Limited (Joint Broker) Nick Emerson	[phone]
Yellow Jersey Tim Thompson	[phone]

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.infrastrataplc.com 

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. The facility 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 was completed in November 2018 and the FEED report was submitted to the European Union in December 2018 in accordance with the Company's grant conditions. To date approximately £13.5m has been invested in the project.

Further information is available on the company's website: www.infrastrataplc.com

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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