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Share Name Share Symbol Market Type
Infrastrata Plc Ord GBP0.0001 NEX:INFA.GB NEX Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.005p -0.61% 0.81p 0.77p 0.87p 0.81p 0.756p 0.78p 2,059,763 16:30:04

Infrastrata PLC Exercise of warrants and total voting rights

06/02/2019 7:00am

UK Regulatory (RNS & others)


Infrastrata Plc Ord GBP0.0001 (NEX:INFA.GB)
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TIDMINFA

RNS Number : 1769P

Infrastrata PLC

06 February 2019

6 February 2019

InfraStrata plc

("InfraStrata" or the "Company")

Exercise of warrants and change to total voting rights

InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, announces that it has received notices of the exercise of warrants to subscribe for a total of 54,791,669 new ordinary shares in the Company (the "New Ordinary Shares"). The New Ordinary Shares are being issued at a price of 0.48 pence per share and relate to warrants issued as part of the Company's fundraising announced on 4 April 2018.

Application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 11 February 2019.

Following this exercise of warrants, the Company has warrants outstanding over 93,018,948 new ordinary shares, which represents approximately 6.98 per cent. of the Company's issued ordinary share capital upon Admission. These warrants are exercisable at a price of 0.48 pence per share with expiry dates of 10 April 2021 and 30 April 2021.

John Wood, CEO of InfraStrata, is also a significant shareholder of the Company pursuant to the AIM Rules for Companies. In accordance with AIM Rule 17, the Company announces that Mr Wood's beneficial interest in 46,246,541 ordinary shares in the Company remains unchanged but upon Admission will represent 3.47 per cent. of the Company's then issued share capital.

Total Voting Rights

Upon Admission, the Company's issued share capital will consist of 1,332,070,458 Ordinary Shares with one voting right each. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 1,332,070,458. With effect from Admission, 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 in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

 
 InfraStrata plc                           c/o Yellow Jersey 
  John Wood, Chief Executive                +44 (0)20 3735 
                                            8825 
 Allenby Capital Limited (AIM Nominated 
  Adviser & Joint Broker)                  +44 (0)20 3328 
  Jeremy Porter / Liz Kirchner              5656 
 SI Capital Limited (Joint Broker)         +44 (0) 20 3871 
  Nick Emerson                              4038 
 Yellow Jersey                             +44 (0)20 3735 
  Tim Thompson                              8825 
 

-ENDS-

Notes to editors:

InfraStrata is an independent gas storage company focused on the UK and Ireland. Further information is available on the Company's website: www.infrastrataplc.com

Background on the Islandmagee Storage Project

The Islandmagee gas storage project is a proposed salt cavern gas storage facility located on Islandmagee in County Antrim, Northern Ireland. The Board of InfraStrata believes that the proposed 500 million cubic metres Natural Gas Cavern Storage facility will provide over 25% of the UK's Natural Gas Storage once constructed. The facility will be situated adjacent to the Scotland Northern Ireland (gas) Pipeline (SNIP) and the Moyle 500 Megawatt Electricity Interconnector. Work commenced in 2007 with the acquisition of 3D seismic data to image the Permian salt in the Larne Lough area. During 2012, planning permission was granted for the project and a gas storage licence was issued by the Utility Regulator. In 2015 a well was drilled to core the salt and confirm the technical feasibility of the project, supported in part by the European Commission. The Front End Engineering and Design (FEED) element of the Project was completed in November 2018 and the FEED report was submitted to the European Union in December 2018 in accordance with the Company's grant conditions. To date approximately GBP13.5m has been invested in the project.

Further information is available on the company's website: www.infrastrataplc.com

The Front End Engineering & Design (FEED) and Insitu Downhole Testing programme for the Islandmagee gas storage project is co-financed by the European Union's Connecting Europe Facility.

Disclaimer releasing the European Union from any liability in terms of the content of the dissemination materials:

"The sole responsibility of this publication lies with the author. The European Union is not responsible for any use that may be made of the information contained therein."

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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February 06, 2019 02:00 ET (07:00 GMT)

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