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. - Update re Strategy

19/04/2017 11:59am

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")

Update re Strategy

The Company has recently raised £1.1m in equity from new and existing shareholders and its outstanding loan note has been converted into ordinary shares.  The Company therefore has approximately £1m in available cash resources, in addition to its £150,000 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

Copyright l 19 PR Newswire

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