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Infrastrata PLC (INFA)

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Friday 24 August, 2018

Infrastrata PLC

Exercise of warrants and total voting rights

RNS Number : 7553Y
Infrastrata PLC
24 August 2018
 

               

 

 

24 August 2018

 

InfraStrata plc

 

("InfraStrata" or the "Company")

 

Exercise of warrants and change to total voting rights

 

InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, announces that it has received notice of the exercise of warrants to subscribe for a total of 10,416,666 million new ordinary shares in the Company (the "New Ordinary Shares") at a price of 0.48 pence per share. The warrants were issued as part of the Company's fundraising announced on 4 April 2018.

 

Application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 31 August 2018.

 

Upon Admission, the Company's issued share capital will consist of 1,043,023,951 Ordinary Shares with one voting right each. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 1,043,023,951.  With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

For further information, please contact:

 

InfraStrata plc

John Wood, Chief Executive

 

c/o Yellow Jersey

+44 (0)20 3735 8825

Allenby Capital Limited (AIM Nominated Adviser & Joint Broker)

Jeremy Porter / Alex Brearley / Liz Kirchner

 

+44 (0)20 3328 5656

SI Capital Limited (Joint Broker)

Nick Emerson

 

+44 (0) 20 3871 4038

Yellow Jersey

Tim Thomson  

+44 (0)20 3735 8825

 

 

-ENDS-

 

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.infrastrata.co.uk.

 

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, and 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 is scheduled for completion by the end of 2018. To date approximately £11.5m has been invested in the project.

 

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

 

 

 

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."

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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