Share Name Share Symbol Market Type Share ISIN Share Description
Infinity Eng. LSE:INFT London Ordinary Share LU0726886947 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.005p -3.57% 0.135p 0.13p 0.14p 0.14p 0.135p 0.14p 21,612,761 10:37:36
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 0.0 -0.3 -0.1 - 2.37

Infinity Energy S.A. - Issue of Equity

16/03/2017 4:01pm

PR Newswire (US)

Infinity Eng. (LSE:INFT)
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6 Months : From Feb 2017 to Aug 2017

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Infinity Energy S.A.
("Infinity" or the "Company")

Issue of Equity

The board of Infinity (the "Board") is pleased to announce that, following investor demand, the Company has raised approximately £500,000, before expenses, through Peterhouse Corporate Finance, by way of a placing of 555,558,200 new ordinary shares ("New Ordinary Shares") at a price of 0.09p per share (the "Placing"). The Placing is subject only to the admission of the New Ordinary Shares to trading on AIM.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on or around 22 March 2017.  The New Ordinary Shares will rank pari passu with the existing ordinary shares.

The proceeds of the subscription will be used to increase the cash reserves of the Company as the Board seeks to explore and complete investment opportunities in line with its strategy in the UK onshore oil and gas sector.

Commenting on the subscription, Gerwyn Williams, Chairman of Infinity, said:

"I am very pleased in the continuing and growing confidence being shown by investors in the Company. This further demonstration of support for Infinity from the investment community provides the opportunity to increase the free float of the Company and provide the necessary funding to enable us to press forward with our strategic goals. The Board believes that these further funds are expected to be sufficient to provide the Company with the funding required to undertake any required pre-completion work to execute this strategy. Shareholders should rest assured that the Company is committed to delivering news regarding the implementation of this strategy in the short-term".

Following the issue of the New Ordinary Shares, the total number of shares in issue is 923,260,234 ordinary shares, each with voting rights. There are no shares held in treasury. Therefore, the total number of voting rights in the Company is 923,260,234. 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 under the Disclosure and Transparency Rules.

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

 For further information, please contact:

Infinity Energy S.A.
Gerwyn Williams
Bruce Vandenberg

Tel:  +44 7889 677 397
Tel:  +44 7899 791 726
Cairn Financial Advisers LLP
Sandy Jamieson / James Caithie

Tel:  +44 207 213 0880
WH Ireland Limited
Paul Shackleton / Nick Prowting

Tel:  +44 207 220 1666
Peterhouse Corporate Finance Limited
Eran Zucker / Lucy Williams

Tel:  +44 20 7469 0930

Copyright h 16 PR Newswire

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