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
  -0.0075p -5.36% 0.1325p 0.13p 0.135p 0.14p 0.1325p 0.14p 60,962,403 11:04:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 0.0 -0.2 -0.1 - 2.32

Infinity Energy S.A. Update re Strategy

19/04/2017 11:59am

UK Regulatory (RNS & others)


 
TIDMINFT 
 
Infinity Energy S.A. 
                         ("Infinity" or the "Company") 
 
                              Update re Strategy 
 
The Company has recently raised GBP1.1m in equity from new and existing 
shareholders and its outstanding loan note has been converted into ordinary 
shares.  The Company therefore has approximately GBP1m in available cash 
resources, in addition to its GBP150,000 investment in UK Methane Limited, held 
through Gas Exploration Finance Limited. 
 
At a board meeting of the Company held last week, it was decided that the 
Company should cease its investment activities and instead to focus on 
completing a suitable reverse takeover transaction as soon as possible.  In 
particular, the Company is investigating a number of potential reverse takeover 
candidates in the oil and gas sector.   As a consequence of this Board 
decision, the Company has now become an AIM Rule 15 cash shell, which means 
that the Company must make an acquisition or acquisitions which constitute a 
reverse takeover under Rule 14 of the AIM Rules by 12 October 2017, otherwise 
the trading of the Company's shares on AIM will be suspended.  If the Company 
has not made an acquisition or acquisitions which constitute a reverse takeover 
under Rule 14 of the AIM Rules within six months of such suspension, the 
admission of the Company's shares to trading on AIM will be cancelled. 
 
This announcement contains inside information for the purposes of Article 7 of 
EU Regulation 596/2014. 
 
For further information, please contact: 
 
Infinity Energy S.A. 
Gerwyn Williams                                 Tel:  +44 7889 677 397 
 
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 
 
 
 
END 
 

(END) Dow Jones Newswires

April 19, 2017 06:59 ET (10:59 GMT)

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