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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Infrastrata Plc | LSE:INFA | London | Ordinary Share | GB00BLPJ1272 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 18.125 | 17.75 | 18.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMINFA
RNS Number : 2793F
Infrastrata PLC
19 February 2018
19 February 2018
InfraStrata plc
("InfraStrata" or the "Company")
Director shareholding and grant of share options
InfraStrata plc (AIM: INFA), the only UK quoted company focused on gas storage, announces that Graham Lyon, Chairman of InfraStrata, purchased 3,085,915 ordinary shares in the Company at a price of GBP 0.00273 per share on 16 February 2018. Following this purchase, Mr Lyon is beneficially interested in 4,000,000 ordinary shares in InfraStrata, equivalent to 0.64% of the Company's issued ordinary share capital.
The Company also announces that it has granted share options to the Board in order to further incentivise them and align their interests with shareholders of the Company.
As stated in the Chairman's statement in the Company's final results for the year ended 31 July 2017, announced on 30 January 2018, the Board aims to be one of the most cost-efficient for a company quoted on AIM and ongoing salary costs have been reduced by over 50 percent. compared with those prior to the restructuring of the Board in June 2017. The Board therefore believes that the granting of share options to directors is the most cost effective mechanism of incentivising them. The Board is focused on securing matched funding required in order to utilise its agreed EU grant to progress work on the Front End Engineering & Design ("FEED") for its Islandmagee gas storage project (the "Project").
A total of 30,000,000 options over new ordinary shares of 0.01p each in the Company ("Options") have been granted to all the directors of the Company, with each director receiving 7,500,000 Options. The Options are exercisable at a price of 1 penny per share (a premium of 270 per cent. to the closing share price on 16 February 2018) for a period of five years. The Options are subject to performance criteria and become exercisable in tranches as follows:
-- as to one third of Options held upon completion of the FEED;
-- as to one third of Options held upon commencement of construction of the Project following a successful conclusion of the Financial Investment Decision; and
-- as to one third of Options held upon the date of first gas stored at the Project.
The Options become exercisable immediately in the event of a sale of the Company, its subsidiary (subject to the Project comprising an asset of the subsidiary) or the Project, and in customary "good leaver" circumstances.
For further information, please contact:
Hot Features
Premium
InfraStrata plc c/o Yellow
Adrian Pocock, Chief Executive Jersey
+44 (0)20 3735
8825
Allenby Capital Limited (AIM Nominated
Adviser & Broker)
Jeremy Porter / Alex Brearley +44 (0)20 3328
/ Liz Kirchner 5656
Yellow Jersey +44 (0)20 3735
Tim Thomson 8825
-S-
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."
Notes:
Background on InfraStrata plc
InfraStrata is an independent gas storage company focused on the UK and Ireland.
Further information is available on the Company's website: www.infrastrata.co.uk.
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, and 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 Commission. To date approximately GBP11.5m has been invested in the project.
Further information is available on the project company's website: www.islandmageestorage.com.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------
a) Name Graham Lyon
--- ------------------ --------------------------------
2 Reason for the notification
--- ----------------------------------------------------
a) Position/status Non-Executive Chairman
--- ------------------ --------------------------------
b) Initial Initial notification
notification
/Amendment
--- ------------------ --------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------
a) Name InfraStrata plc
--- ------------------ --------------------------------
b) LEI 2138001JAP311MVUZ948
--- ------------------ --------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ----------------------------------------------------
a) Description Ordinary shares of 0.01p
of the
financial
instrument, GB00B28YMP66
type of
instrument
Identification
code
--- ------------------ --------------------------------
b) Nature Purchase of shares
of the
transaction
--- ------------------ --------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------- ----------
GBP 0.00273 3,085,915
------------- ----------
--- ------------------ --------------------------------
d) Aggregated
information n/a
- Aggregated
volume
- Price
--- ------------------ --------------------------------
e) Date of 16 February 2018
the transaction
--- ------------------ --------------------------------
f) Place London Stock Exchange, AIM
of the
transaction
--- ------------------ --------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ---------------------------------------------------------
a) Name Adrian Pocock
--- ----------------- --------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------
a) Position/status Chief Executive
--- ----------------- --------------------------------------
b) Initial Initial notification
notification
/Amendment
--- ----------------- --------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------
a) Name InfraStrata plc
--- ----------------- --------------------------------------
b) LEI 2138001JAP311MVUZ948
--- ----------------- --------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ---------------------------------------------------------
a) Description Options over ordinary shares of
of the 0.01p
financial
instrument,
type of GB00B28YMP66
instrument
Identification
code
--- ----------------- --------------------------------------
b) Nature Grant of options
of the
transaction
--- ----------------- --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------------ ----------
Exercise price
of 1p per share 7,500,000
------------------ ----------
--- ----------------- --------------------------------------
d) Aggregated
information n/a
- Aggregated
volume
- Price
--- ----------------- --------------------------------------
e) Date of 16 February 2018
the transaction
--- ----------------- --------------------------------------
f) Place Outside of trading venue - grant
of the of options
transaction
--- ----------------- --------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ---------------------------------------------------------
a) Name Graham Lyon
--- ----------------- --------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------
a) Position/status Non-Executive Chairman
--- ----------------- --------------------------------------
b) Initial Initial notification
notification
/Amendment
--- ----------------- --------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------
a) Name InfraStrata plc
--- ----------------- --------------------------------------
b) LEI 2138001JAP311MVUZ948
--- ----------------- --------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ---------------------------------------------------------
a) Description Options over ordinary shares of
of the 0.01p
financial
instrument,
type of GB00B28YMP66
instrument
Identification
code
--- ----------------- --------------------------------------
b) Nature Grant of options
of the
transaction
--- ----------------- --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------------ ----------
Exercise price
of 1p per share 7,500,000
------------------ ----------
--- ----------------- --------------------------------------
d) Aggregated
information n/a
- Aggregated
volume
- Price
--- ----------------- --------------------------------------
e) Date of 16 February 2018
the transaction
--- ----------------- --------------------------------------
f) Place Outside of trading venue - grant
of the of options
transaction
--- ----------------- --------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ---------------------------------------------------------
a) Name Karen Campbell
--- ----------------- --------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------
a) Position/status Non-Executive Director
--- ----------------- --------------------------------------
b) Initial Initial notification
notification
/Amendment
--- ----------------- --------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------
a) Name InfraStrata plc
--- ----------------- --------------------------------------
b) LEI 2138001JAP311MVUZ948
--- ----------------- --------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ---------------------------------------------------------
a) Description Options over ordinary shares of
of the 0.01p
financial
instrument,
type of GB00B28YMP66
instrument
Identification
code
--- ----------------- --------------------------------------
b) Nature Grant of options
of the
transaction
--- ----------------- --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------------ ----------
Exercise price
of 1p per share 7,500,000
------------------ ----------
--- ----------------- --------------------------------------
d) Aggregated
information n/a
- Aggregated
volume
- Price
--- ----------------- --------------------------------------
e) Date of 16 February 2018
the transaction
--- ----------------- --------------------------------------
f) Place Outside of trading venue - grant
of the of options
transaction
--- ----------------- --------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ---------------------------------------------------------
a) Name Matthew Beardmore
--- ----------------- --------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------
a) Position/status Non-Executive Director
--- ----------------- --------------------------------------
b) Initial Initial notification
notification
/Amendment
--- ----------------- --------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------
a) Name InfraStrata plc
--- ----------------- --------------------------------------
b) LEI 2138001JAP311MVUZ948
--- ----------------- --------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ---------------------------------------------------------
a) Description Options over ordinary shares of
of the 0.01p
financial
instrument,
type of GB00B28YMP66
instrument
Identification
code
--- ----------------- --------------------------------------
b) Nature Grant of options
of the
transaction
--- ----------------- --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------------ ----------
Exercise price
of 1p per share 7,500,000
------------------ ----------
--- ----------------- --------------------------------------
d) Aggregated
information n/a
- Aggregated
volume
- Price
--- ----------------- --------------------------------------
e) Date of 16 February 2018
the transaction
--- ----------------- --------------------------------------
f) Place Outside of trading venue - grant
of the of options
transaction
--- ----------------- --------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHSFWFFUFASEFE
(END) Dow Jones Newswires
February 19, 2018 06:18 ET (11:18 GMT)
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