RNS Releases
29/03/2017 - Repayment of Baron Loan PDF Print E-mail

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

InfraStrata plc (“InfraStrata” or the “Company”)

Repayment of loan from Baron Oil plc

InfraStrata plc (AIM: INFA), the independent gas storage company, announces that following the completion of the placing to raise £810,000 before expenses announced on 27 February 2017, it has now repaid the £200,000 drawn down on the secured loan facility with Baron Oil plc (“Baron”) which was entered into on 5 January 2017. The loan facility will now be cancelled.

The loan was secured by, inter alia: (i) a first-ranking debenture over the undertakings and assets of InfraStrata UK Limited ("InfraStrata UK"), the wholly owned subsidiary of the Company which owns 90% of Islandmagee Storage Limited (“IMSL”); and (ii) charges over shares in InfraStrata UK (granted by the Company) and IMSL (granted by InfraStrata UK). Following repayment of the loan these security arrangements will now be released.

Baron remains entitled to receive an additional £200,000 (the “Additional Payment”) in the event of a sale or disposal by InfraStrata or its subsidiaries, IMSL and InfraStrata UK, of substantially all of their assets, which comprise interests in the Islandmagee gas storage project, and/or a change in control of InfraStrata, IMSL or InfraStrata UK, within two years from the date of the loan agreement. In the event of a partial disposal of InfraStrata, IMSL or InfraStrata UK's interests in the Islandmagee gas storage project (whereby InfraStrata and InfraStrata UK retain control of IMSL), the Additional Payment will be reduced to £100,000, with the remaining £100,000 payable in the event of a subsequent disposal or change in control of IMSL or the Islandmagee gas storage project during the two year period.

For further information, please contact:

InfraStrata plc

Anita Gardiner, Joint Managing Director Stewart McGarrity, Joint Managing Director

+44 (0) 28 9051 1415

Allenby Capital Limited (Nominated Adviser & Broker)

Jeremy Porter / Alex Brearley / Liz Kirchner

+44 (0)20 3328 5656

Financial PR – Camarco

Billy Clegg / Gordon Poole

+44 (0)20 3757 4980

 

co-financed-eu-image.png

 

 

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 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.

Further information is available on the project company’s website: www.islandmageestorage.com.

pdf View or download the release 

 
22/03/2017 - Holdings in Company PDF Print E-mail

RNS Number : 2205A
Infrastrata PLC
22 March 2017

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

 

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

 

INFRASTRATA PLC

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

 

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

 

An event changing the breakdown of voting rights

 

Other (please specify):

 

 

3. Full name of person(s) subject to the notification obligation:

 

FP Pension Nominees

 

4. Full name of shareholder(s)

(if different from 3.):

 

5. Date of the transaction and date on which the threshold is crossed or reached:

 

20th March 2017

6. Date on which issuer notified:

22nd March 2017

7. Threshold(s) that is/are crossed or reached:

 

3%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares

 

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

GB00B28YMP66

 

10,000,000

 

10,000,000

 

12,801,904

   

 

3.66%

 
 

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ Conversion Period

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

         
 

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date

Exercise/ Conversion period

Number of voting rights instrument refers to

% of voting rights

         

Nominal

Delta

   
 

Total (A+B+C)

Number of voting rights

Percentage of voting rights

12,801,904

3.66%

 

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

 
 

Proxy Voting:

10. Name of the proxy holder:

 

11. Number of voting rights proxy holder will cease to hold:

 

12. Date on which proxy holder will cease to hold voting rights:

 
 

 

13. Additional information:

 

14. Contact name:

HORNBUCKLE

15. Contact telephone number:

0116 366 8600

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

END

pdf View or download the release 

 
16/03/2017 - First Phase of FEED Commences PDF Print E-mail

InfraStrata plc

("InfraStrata" or the "Company")

First phase of FEED commences for Islandmagee gas storage project

InfraStrata plc (AIM: INFA), the independent gas storage company, is pleased to announce that it has commenced the first phase of Front End Engineering Design ("FEED"), known as Concept Evaluation, for its Islandmagee gas storage project (the "Project").

This activity will be part funded using some of the net proceeds of the recent placing undertaken by the Company (the "Placing"), as further described in the Company's announcement of 27 February 2017 (the "February Announcement").

During the Concept Evaluation, the FEED contractors will undertake a value enhancement exercise on the Project's current design basis. The objective is to identify opportunities through which the current design and phasing could be optimised, to enhance overall project value and in particular, to assess the potential for accelerating the delivery of capacity (or part thereof) to the gas markets. The outcome of the Concept Evaluation will provide key inputs to the completion of the FEED scope, to produce a fully integrated programme of work and deliverables.

It is anticipated that the Concept Evaluation phase will be concluded in approximately six weeks. Further funding will be required to progress the FEED beyond the Concept Evaluation phase, as explained below.

During the Concept Evaluation phase, the Company will continue its fundraising discussions with interested parties to provide the additional funding required to complete the FEED and commercialisation work programme, further details of which were contained within the Company's announcement of 4 November 2016 (the "November Announcement").

In the November Announcement the Company outlined that, in addition to the EU grant funding and loans available from the selected FEED contractors ("Contractor Loans"), a further amount of £3 million would be required to complete the FEED and commercialisation process. This is part of a gross £6 million programme, which includes a £4 million engineering budget and funds for corporate overheads, working capital and bridging finance until receipt of the remaining European Commission grant funds following completion of the FEED programme. Following the recent Placing, the remaining funding required to complete the FEED and commercialisation work programme is now approximately £2.2m (the "Current Funding Requirement"). Drawdown of the Contractor Loans is subject to InfraStrata securing the Current Funding Requirement.

There can be no guarantee at this stage that the Company will be successful in its ongoing discussions with potential investors to secure the Current Funding Requirement. If the Board considers that the Company will not be able to secure the Current Funding Requirement, then in order to preserve available working capital, the Company may halt the Concept Evaluation phase and place the Project on a care and maintenance budget, and consider utilising the remaining funds from the Placing to explore other options for the Company, which may include a sale of the Project and/or its assets. Further announcements will be made in due course as appropriate.

The Directors remain confident that the Project is economically viable, and that, following the completion of the FEED and commercialisation programme, the Project would be capable of attracting further new investment for the Company and the Project.

For further information, please contact:

InfraStrata plc

Anita Gardiner, Joint Managing Director

Stewart McGarrity, Joint Managing Director

+44 (0) 28 9051 1415

Allenby Capital Limited (Nominated Adviser & Broker)

Jeremy Porter / Alex Brearley / Liz Kirchner

+44 (0)20 3328 5656

Financial PR - Camarco

Billy Clegg / Gordon Poole

+44 (0)20 3757 4980

 

co-financed-eu-image.png

 

 

 

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 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.

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

pdf View or download the release 

 
10th March 2017 - Holdings in Company PDF Print E-mail


TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

 


1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached:
ii

Infratstrata plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights


An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached


An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments


An event changing the breakdown of voting rights

x

Other (please specify):

 


3. Full name of person(s) subject to the
notification obligation:
iii

Mark A W Abbott

4. Full name of shareholder(s)
(if different from 3.):iv


5. Date of the transaction and date on
which the threshold is crossed or
reached:
v

3rd March 2017

6. Date on which issuer notified:

9th March 2017

7. Threshold(s) that is/are crossed or
reached:
vi, vii

3%, 2%


8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares


if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00B28YMP66

5,639,545

5,639,545

5,639,545

 

 

1.61%

 

 

 

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date
xiii

Exercise/
Conversion Period
xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

 

 

 

 

 

 

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date xvii

Exercise/
Conversion period
xviii

Number of voting rights instrument refers to

 

% of voting rights xix, xx

 

 

 

 

 


 

Nominal

Delta

 

 

 

Total (A+B+C)

Number of voting rights

Percentage of voting rights

5,639,545

1.61%


9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
xxi



 

Proxy Voting:

10. Name of the proxy holder:


11. Number of voting rights proxy holder will cease
to hold:


12. Date on which proxy holder will cease to hold
voting rights:


 


13. Additional information:



14. Contact name:

Mark A W Abbott

15. Contact telephone number:



pdf View or download the release 

 
8th March 2017 - Holdings in the Company PDF Print E-mail


 

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

 


1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached:
ii

Infrastrata PLC


2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached


An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments


An event changing the breakdown of voting rights


Other (please specify):

 


3. Full name of person(s) subject to the
notification obligation:
iii

AXA Investment Managers

4. Full name of shareholder(s)
(if different from 3.):iv


5. Date of the transaction and date on
which the threshold is crossed or
reached:
v

3 March 2017

6. Date on which issuer notified:

7 March 2017

7. Threshold(s) that is/are crossed or
reached:
vi, vii

Above 10.00 %


8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares


if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00B28YMP66

12,500,000

12,500,000

0

0

37,500,000

0.00 %

10.71 %



B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date
xiii

Exercise/
Conversion Period
xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights


C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date xvii

Exercise/
Conversion period
xviii

Number of voting rights instrument refers to

 

% of voting rights xix, xx

Nominal

Delta


Total (A+B+C)

Number of voting rights

Percentage of voting rights

37,500,000

10.71 %


9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
xxi



 

Proxy Voting:

10. Name of the proxy holder:


11. Number of voting rights proxy holder will cease
to hold:


12. Date on which proxy holder will cease to hold
voting rights:


 


13. Additional information:



14. Contact name:

Pascaline HAYE

15. Contact telephone number:

+33 7 44 45 77 01


pdf View or download the release 

 
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