TIDMINFA
RNS Number : 7552V
Infrastrata PLC
07 November 2017
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 GBP3bn. 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 Range Resources Limited
Soncer Limited Hawkley Oil & Gas Limited
Soncer Bel BvBa MENA Hydrocarbons Inc
Cleve Cross Court Management Company Limited VAL Energy Management Limited
The Exchange RTM Company Limited Campion Close Freeholders Limited
Pearland Energy Nig Ltd* Parkland Management Company Limited
Tate Petroleum LTD** MENA Hydrocarbons UK Services Limited (dissolved)
Clarion Petroleum LTD*** 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 has changed to 200 Strand,
London WC2R 1DJ, with immediate effect.
For further information, please contact:
InfraStrata plc +44 (0)28 9051
Adrian Pocock, Chief Executive 1415
Allenby Capital Limited (AIM Nominated
Adviser & Broker)
Jeremy Porter / Alex Brearley +44 (0)20 3328
/ Liz Kirchner 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 GBP11m has been invested in the project.
Further information is available on the project company's
website: www.islandmageestorage.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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