3 Mar 2017 08:01
3 March 2017
InfraStrata plc
("InfraStrata" or the "Company")
Holdings in Company
InfraStrata plc (AIM: INFA), the independent gas storage company, announces that following the issue and admission to trading on AIM today of 162,000,000 new ordinary shares in connection with the Placing announced on 27 February 2017, the directors' holdings of ordinary shares in the Company remain unchanged, but as a result of dilution their percentage of the voting rights in the Company is now as set out below:
Number of ordinary shares held | Current % of voting rights in the Company | |
Ken Ratcliff | 154,000 | 0.04% |
Andrew Hindle | 9,737,625 | 2.78% |
Stewart McGarrity | 1,000,000 | 0.29% |
Anita Gardiner | 0 | 0.00% |
Maurice Hazzard | 69,326 | 0.02% |
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."
For further information please contact:
InfraStrata plc
Stewart McGarrity, Joint Managing Director 028 9051 1415
Anita Gardiner, Joint Managing Director
Nominated Adviser and Broker - Allenby Capital Limited
Jeremy Porter / Alex Brearley / Liz Kirchner 020 3328 5656
Financial PR - Camarco
Billy Clegg / Gordon Poole 020 3757 4980
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 company, Islandmagee Storage Limited ("IMSL"), is owned 90% by a wholly owned subsidiary of InfraStrata plc and 10% by a wholly owned subsidiary of Mutual Energy Limited. The project is a proposed salt cavern gas storage facility located on Islandmagee in County Antrim, Northern Ireland. 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 October 2013, the gas storage project was granted a 'Project of Common Interest' ("PCI") status by the European Commission. In 2015 a well was drilled to core the salt and confirm the technical feasibility of the project, supported in part by the Commission. The final stage before a Final Investment Decision will be the Front-End Engineering Design and Commercialisation of the project. To date approximately £11m has been invested in the project.