JW now has 4.1% of INFA8 Jan 2019 17:43
Yet more skin in the game for John ! Great stuff !
RNS Number : 5553M
Infrastrata PLC
08 January 2019
8 January 2019
InfraStrata plc
("InfraStrata" or the "Company")
Issuance of contractual fee shares and change to total voting rights
InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, announces the issuance of 4,202,420 ordinary shares in the Company of 0.01p ("New Ordinary Shares") to John Wood at an average price of 0.67 pence per New Ordinary Share.
These New Ordinary Shares are issued in accordance with John's service contract with the Company whereby he agreed to accept a proportion of his remuneration as ordinary shares as part of his commitment to supporting the growth of InfraStrata. Under the terms of his contract, the shares become due at the end of every month and will be allotted by the Board on an ad-hoc basis and this share issuance is in respect of the last seven months. The issue price is calculated using the volume weighted average closing mid-market price per share over the last five days of each calendar month in which the shares become due.
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 14 January 2019.
Upon Admission, John will have a beneficial interest in 46,246,541 ordinary shares in the Company, equivalent to 4.17% of the Company's then issued share capital.
Total Voting Rights
Upon Admission, the Company's issued share capital will consist of 1,108,113,455 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 1,108,113,455. 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.