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 GBP600,000, before
expenses, through Peterhouse Corporate Finance, by way of a placing of
461,542,700 new ordinary shares ("New Ordinary Shares") at a price of 0.13p per
share (the "Placing"). The Placing is subject only to the admission of the New
Ordinary Shares to trading on AIM.
Application will be made for the New Ordinary Shares to be admitted to trading
on AIM and dealings are expected to commence on or around 18 April 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, Chief Executive Officer of
"I am very pleased with the continuing and growing confidence in the Company
being shown by investors. We are now a well capitalised Company and as such we
are now pressing forward with our strategic goals. I look forward to updating
shareholders on 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 1,754,033,703 ordinary shares, each with voting rights. There are no
shares held in treasury. Therefore, the total number of voting rights in the
Company is 1,754,033,703. 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 Tel: +44 7889 677 397
Bruce Vandenberg 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
(END) Dow Jones Newswires
April 10, 2017 05:59 ET (09:59 GMT)