Result of GM and Completion of Placing

RNS Number : 6053F

Infrastrata PLC

23 February 2015

 

23 February 2015                                                                      For immediate release

InfraStrata plc

("InfraStrata" or the "Company")

Result of General Meeting and Completion of Placing

The Directors of InfraStrata are pleased to announce that at the General Meeting held today at 11.30 all resolutions put before the meeting were duly passed.

Accordingly, as set out in the notice of general meeting circular sent to shareholders on 5 February 2015 and following the passing of resolutions 1 & 2, the Company has today allotted 52,500,000 new ordinary shares of 1p each (the "Placing Shares") in the Company subject only to the Admission of the Placing Shares to trading on AIM ("Admission").

It is expected that Admission will become effective and that dealings will commence in the Placing Shares at 08:00 on 24 February 2015.

Following Admission, the Company's total issued share capital will consist of 151,991,599 Ordinary Shares. No Ordinary Shares are held in treasury and therefore the number of Ordinary Shares with voting rights will be 151,991,599. This is the figure that should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Commenting on the General Meeting, Ken Ratcliff, the Chairman of InfraStrata plc said:

"We appreciate the support shown for the placing from existing shareholders and welcome new Institutional and private investors to the Company. With the funding approved today, the Company is now able to secure the €2.5 million (c £1.9 million) grant funding from the Connecting Europe Facility of the European Union and proceed to the next stage in our important gas storage project at Islandmagee. Drilling of the well is planned for May 2015."

For further information please contact:

InfraStrata plc

Andrew Hindle, Chief Executive Officer                                                               020 8332 1200

Stewart McGarrity, Finance Director

Financial PR - Buchanan

Richard Darby/ Anna Michniewicz                                                                      020 7466 5000

Nominated Advisor and Joint Broker - Arden Partners plc

Chris Hardie/ Michael McNeilly                                                                         020 7614 5917

Joint Broker - VSA Capital Limited

Andrew Raca/ Richard Buckle                                                                          020 3005 5004

Notes to Editors:

Background on InfraStrata plc

InfraStrata is an independent petroleum exploration and gas storage company focused on the UK and Ireland.

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

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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