Holdings in Company

RNS Number : 4133Y

Infrastrata PLC

03 March 2017

 

3 March 2017

InfraStrata plc

("InfraStrata" or the "Company")

Holdings in Company

InfraStrata plc (AIM: INFA), the independent gas storage company, announces that following the issue and admission to trading on AIM today of 162,000,000 new ordinary shares in connection with the Placing announced on 27 February 2017, the directors' holdings of ordinary shares in the Company remain unchanged, but as a result of dilution their percentage of the voting rights in the Company is now as set out below:

	Number of ordinary shares held	Current % of voting rights in the Company
Ken Ratcliff	154,000	0.04%
Andrew Hindle	9,737,625	2.78%
Stewart McGarrity	1,000,000	0.29%
Anita Gardiner	0	0.00%
Maurice Hazzard	69,326	0.02%

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."

For further information please contact:

InfraStrata plc

Stewart McGarrity, Joint Managing Director                                                            028 9051 1415

Anita Gardiner, Joint Managing 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.

 

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