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
  +0.00p +0.00% 0.0825p 0.08p 0.085p 0.0825p 0.0825p 0.0825p 13,755,397 07:55:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 0.0 -0.3 -0.1 - 1.45

Infinity Energy S.A. - Issue of Equity

10/04/2017 10:59am

PR Newswire (US)


Infinity Eng. (LSE:INFT)
Historical Stock Chart

6 Months : From Jan 2017 to Jul 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 £600,000, 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
Bruce Vandenberg

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


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


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


Tel:  +44 20 7469 0930

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