Infinity Energy S.A. Potential Acquisition

 
TIDMINFT 
 
Infinity Energy S.A. 
                     ("Infinity Energy" or the "Company") 
 
                             Potential Acquisition 
 
The Board of Directors would like to update Shareholders in respect of the 
Company's progress in terms of completing an acquisition which would represent 
a reverse takeover under AIM Rules ("RTO"). 
 
Negotiations have been ongoing between Gerwyn Williams, Chief Executive, and 
the other Board members regarding the potential acquisition by the Company of 
Transgas Limited ("Transgas") by means of a share for share transaction. 
Transgas is the parent company of South Western Energy Limited ("SWE"), which 
holds a number of Petroleum Exploration and Development Licences ("PEDLs") 
across the South West of England, including North Somerset and areas to the 
north and west of Wytch Farm in Dorset covering a total area of 823.98 sq. km. 
Transgas is owned by Gerwyn Williams and members of his immediate family. SWE 
holds 100% of the PEDLs. 
 
The consideration for this potential acquisition (being the number of 
consideration shares to be issued by the Company to the shareholders in 
Transgas) cannot be agreed until a valuation of SWE's assets is completed - 
technical and accounting work has been commissioned to achieve this. 
 
In order to facilitate the RTO and create a more suitable corporate structure 
to support the expansion and growth of the enlarged Company, the Directors are 
also proposing to seek Shareholders' consent to migrate the domicile of the 
Company from Luxembourg to the Island of Guernsey by means of a reregistration 
process. The Company has been advised that this is a relatively straightforward 
process and has been carried out numerous times before by other companies. 
 
As previously mentioned, Transgas is owned totally by Gerwyn Williams and 
family which means that the RTO  will be a related party transaction under the 
AIM Rules. 
 
In the event that agreement is reached between the Company and Mr Williams, a 
general meeting of Shareholders will be convened in order to seek Shareholders 
consent to the RTO and the re-domicile of the Company to Guernsey. 
 
The Directors will update Shareholders on progress in relation to these 
proposals in due course. 
 
For further information, please contact: 
 
Infinity Energy S.A. 
Gerwyn Williams                    Tel:  [phone] 
 
Nomad 
Cairn Financial Advisers LLP 
Sandy Jamieson / James Caithie     Tel:  [phone] 
 
Joint-Broker 
WH Ireland Limited 
Paul Shackleton                    Tel:  [phone] 
 
Joint-Broker 
Peterhouse Corporate Finance 
Limited                            Tel:  [phone] 
Eran Zucker / Lucy Williams 
 
 
 
END 
 

(END) Dow Jones Newswires

October 17, 2017 10:09 ET (14:09 GMT)