Infinity Energy S.A. Issue of Equity

 
TIDMINFT 
 
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 
Infinity, said: 
 
"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:  [phone] 
Bruce Vandenberg                                Tel:  [phone] 
 
Nomad 
Cairn Financial Advisers LLP 
Sandy Jamieson / James Caithie                  Tel:  [phone] 
 
Joint-Broker 
WH Ireland Limited 
Paul Shackleton / Nick Prowting                 Tel:  [phone] 
 
Joint-Broker 
Peterhouse Corporate Finance Limited 
Eran Zucker / Lucy Williams                     Tel:  [phone] 
 
 
 
END 
 

(END) Dow Jones Newswires

April 10, 2017 05:59 ET (09:59 GMT)