RNS Releases
09/05/2017 - Requisition of General Meeting PDF Print E-mail

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

9 May 2017

InfraStrata plc

("InfraStrata" or the "Company") Requisition of General Meeting

InfraStrata plc (AIM: INFA), the independent gas storage company, announces that the Company has today received a letter dated 8 May 2017 from Hornbuckle Mitchell Pension Trustees Limited and Tower Pension Trustees Limited (collectively the "Requisitioners") regarding a purported requisition for InfraStrata to convene a general meeting of the Company (the "Requisitioned General Meeting") pursuant to section 303 of the Companies Act 2006, to propose the following ordinary resolutions:

  1. That Adrian Richard Pocock be and is hereby appointed as a director of the Company (with such appointment taking immediate and simultaneous effect).

  1. That Peter Verdun Wale be and is hereby appointed as a director of the Company (with such appointment taking immediate and simultaneous effect).

  1. That Anita Elizabeth Gardiner be and is hereby removed as a director of the Company.

  1. That Maurice Edward Hazzard be and is hereby removed as a director of the Company.

  1. That Andrew David Hindle be and is hereby removed as a director of the Company.

  1. That Stewart McGarrity be and is hereby removed as a director of the Company.

  1. That Kenneth Maurice Ratcliff be and is hereby removed as a director of the Company.

  1. That any person appointed as a director of the Company since the date of the requisition of the Requisitioned General Meeting at which this resolution is proposed, and who is not one of the persons referred to in the resolutions numbered 1 to 7 (inclusive) above, be and is hereby removed as a director of the Company.

If such resolutions were to be passed, then the Company's board of directors would consist solely of Adrian Richard Pocock and Peter Verdun Wale.

Among other things, the Requisitioners' letter further informed the Company that the Requisitioners are the registered holders of a total of 17,867,508 ordinary shares in the capital of the Company, which represents 5.10% of the voting rights in the Company.


InfraStrata is currently seeking advice in relation to the validity of the purported requisition. Shareholders are advised to take no action at this time. Further announcements will be made in due course.

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 

 
4th May 2017 - FEED Update PDF Print E-mail

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

4th May 2017

InfraStrata plc

("InfraStrata" or the "Company")

FEED update

InfraStrata plc (AIM: INFA), the independent gas storage company, is pleased to announce that following its announcement on 16 March 2017, the Concept Evaluation phase of Front End Engineering Design ("FEED") for the Islandmagee gas storage project (the "Project") has been completed by the consultants and the Company is waiting for the final report. Initial results have been provided to the Company which are currently being assessed. Further updates will be provided once the outcome of the work and final report have been considered in full and next steps determined. The Company remains in discussion with potential investors to seek the funding necessary to complete the FEED and commercialisation work programme, as previously announced.

There can be no guarantee at this stage that the Company will be successful in its ongoing discussions with potential investors to secure the additional funding required. If the Board considers that the Company will not be able to secure funding in a timely manner and/or on acceptable terms, then in order to preserve available working capital it may place the Company and the Project on care and maintenance and consider utilising the remaining funds available to it to explore other options for the Company, which may include a sale of the Project and/or its assets. Further updates will be announced as appropriate.

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 

 
19th April 2017 InfraStrata plc Interim Report 31st January 2017 PDF Print E-mail

Interim results for the six months ended 31 January 2017

pdf View or download the release 

 
31/03/2017 - Total Voting Rights PDF Print E-mail

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

Total Voting Rights

InfraStrata plc (AIM: INFA), the independent gas storage company, announces that the issued share capital of the Company at the date of this announcement comprises 350,041,599 ordinary shares of

0.01 pence each, with one voting right per share (“Ordinary Shares”). The Company does not hold any Ordinary Shares in treasury. The total number of Ordinary Shares and voting rights in the Company is therefore 350,041,599.

The above 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 change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

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 

 
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 

 
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