7/11/2017 - Appointment of Chairman and Non-Executive director to the Board

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

7 November 2017

InfraStrata plc

("InfraStrata" or the "Company")

Appointment of Chairman and Non-Executive director to the Board

and change of registered office

InfraStrata plc (AIM: INFA), the only UK quoted company focused on gas storage, is pleased to announce the appointments of Graham Lyon as Non-Executive Chairman and Matthew Beardmore as a Non-Executive Director of the Company with immediate effect. These new directors bring with them experience, skills and contacts within the energy sector and with EU funding. Peter Wale will now fulfil the role of Non-Executive Director.

Graham Lyon - Non-Executive Chairman

Graham is a senior energy, oil and gas executive with over 30 years' experience encompassing global technical, operational and commercial leadership roles.

He is currently a Director of Soncer Limited, a private Oil and Gas leadership consulting firm, undertaking board and executive positions for private and listed companies. He has actively led and advised on major M&A transactions and the financing and restructuring of companies and projects throughout the world.

Graham is Executive Chairman at Comet Energy, a private Canadian oil and gas company and is Non-Executive Chairman of Pearland Energy, a Nigerian oil and gas company. Graham also Chairs the Technical Advisory Committee and is a Board Advisor to Sirius Petroleum plc (AIM: SRSP) where he has helped structure the vendor financing consortia that Sirius has put together to develop its Nigerian oil production assets.

Graham has recently held a number of board level positions at private and listed companies including; Non-Executive Director at Tarbagatay Munay LLP, a private Kazakhstani oil and gas company where he also chaired the Corporate Governance committee, Hawkley Oil & Gas Limited (ASX: HOG), Range Resources Limited (AIM: RRL, ASX: RRS) where he chaired the Reserves committee and was a member of Remuneration, Nomination and Corporate Governance committees, and MENA Hydrocarbons (TSX: MNH) as CEO. Before establishing Soncer, Graham was Vice President of Petro-Canada (TSX: PCA), where he led business development for its international business unit, which was formerly the international company Veba Oil and Gas GmbH. In his earlier technical career he worked for Shell and Chevron.

 

Matthew Beardmore - Non-Executive Director

Matthew is a practising solicitor and quantity surveyor who has been primarily focused on the delivery of major built environment and infrastructure projects from conception to completion. During the last 20 years Matthew has had responsibility for the contractual, operational and commercial performance of a portfolio of projects worth in aggregate over £3bn. This has ranged from power plants to football stadia as well as major urban regeneration schemes. Within the last five years Matthew has obtained significant experience and knowledge through working in a role as Head of Capital Projects for a UK regional government authority. He therefore, has significant experience with the EU funding framework. The Board believes that these skills are going to be very beneficial to InfraStrata and will ensure the Company maximises its potential in this area.

InfraStrata's former interim Non-Executive Chairman, Peter Wale, commented:

"As we move forward with the future strategy for the Company, we believe that these new Directors will be invaluable in helping us to progress. Given their backgrounds and networks, we view their decision to join the Board as a strong endorsement of our vision to create shareholder value. Graham brings a wealth of world-wide expertise and contacts across the wider energy industry. He has played active roles in business restructuring and refinancing companies and enabling businesses turnarounds. Matthew's professional background, project management experience and familiarity with EU funding are indispensable skills for the Company. We are delighted to welcome them on to our Board.

Furthermore, we anticipate one additional board member to be confirmed shortly."

AIM rules disclosures

Matthew Beardmore

Matthew Paul Beardmore, aged 39, is beneficially interested in 1,500,903 ordinary shares in InfraStrata, equivalent to 0.3% of the Company's issued ordinary share capital, held via an individual savings account with Interactive Investors.

Within the last five years Matthew has been a director of Beardmore Kyle (a private unlimited company) and save for InfraStrata, does not currently hold any directorships or partnerships.

Graham Lyon

Graham Victor Lyon, aged 60, is beneficially interested in 914,085 ordinary shares in InfraStrata, equivalent to 0.18% of the Company's issued ordinary share capital, held through Interactive Investors.

Graham is, or has during the last five years been, a director or partner of the following companies and partnerships:

Current directorships/partnerships

Past directorships/partnerships within the last five years

Comet Energy Limited

Soncer Limited

Soncer Bel BvBa

Cleve Cross Court Management Company Limited

The Exchange RTM Company Limited

Pearland Energy Nig Ltd*

Tate Petroleum LTD**

Clarion Petroleum LTD***


Range Resources Limited

Hawkley Oil & Gas Limited

MENA Hydrocarbons Inc

VAL Energy Management Limited

Campion Close Freeholders Limited

Parkland Management Company Limited

MENA Hydrocarbons UK Services Limited (dissolved)

Tarbagatay Munay LLP****


* Mr Lyon is considered a director of Pearland Energy Nig Ltd pursuant to the definition within the AIM Rules for Companies but this is not a statutory directorship position.

** Mr Lyon is considered a director of Tate Petroleum LTD pursuant to the definition within the AIM Rules for Companies but this is not a statutory directorship position.

*** Mr Lyon is considered a director of Clarion Petroleum LTD pursuant to the definition within the AIM Rules for Companies but this is not a statutory directorship position.

**** Mr Lyon is considered a past director of Tarbagatay Munay LLP pursuant to the definition within the AIM Rules for Companies but was not a statutory directorship position.

Change of registered office

The Company's registered office will shortly be changed to 200 Strand, London WC2R 1DJ.

 

 

For further information, please contact:

InfraStrata plc

Adrian Pocock, Chief Executive


+44 (0)28 9051 1415

Allenby Capital Limited (AIM Nominated Adviser & Broker)

Jeremy Porter / Alex Brearley / Liz Kirchner


+44 (0)20 3328 5656


-ENDS-

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 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 £11m has been invested in the project.

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

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