Result of General Meeting and Open Offer

RNS Number : 5675L

Infrastrata PLC

13 January 2021

 

13 January 2021

InfraStrata plc

("InfraStrata" or the "Company")

Result of General Meeting and Open Offer

InfraStrata plc (AIM: INFA), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, announces that all resolutions put to Shareholders at the General Meeting held earlier today in connection with the Placing and Open Offer to raise up to £7.4 million (before expenses), were duly passed. Full details of the proxy voting results will be published on the Company's website at www.infrastrataplc.com shortly.

Furthermore, the Company is pleased to announce that it has raised the maximum amount possible under the Open Offer of £1.0 million (before expenses), having received valid applications for 5,173,144 Open Offer Shares in aggregate, including 4,025,457 Open Offer Shares applied for under the Excess Application Facility. Accordingly, the Company will issue the maximum of 2,239,465 Open Offer Shares to be admitted to trading on AIM.  

As the Open Offer was oversubscribed, the Directors of the Company will undertake a scaling back process, on a pro-rata basis, with the same scaling methodology to be applied to each shareholder who applied for excess applications.

Application has been made for the Second Placing Shares and Open Offer Shares, totalling 7,622,082 new Ordinary Shares, to be admitted to trading on AIM ("Admission"). It is anticipated that Admission will become effective and that dealings in the Second Placing Shares and Open Offer will commence at 8.00 a.m. on 14 January 2021. Following Admission, the Company will have 81,406,176 Ordinary Shares in issue, admitted to trading on AIM. This figure (81,406,176) may be used as the denominator for the calculation by which Shareholders will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the announcement of the Placing and Open Offer made by the Company on 23 December 2020.

For further information, please visit  www.infrastrataplc.com  or contact:

InfraStrata plc John Wood, Chief Executive Seena Shah, Head of Marketing & Communications	[phone] [e-mail]
Cenkos Securities plc (Nominated Adviser & Broker) Stephen Keys / Callum Davidson (Corporate Finance) Michael Johnson (Sales)	[phone]

 

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