Infinity Energy S.A.
("Infinity" or the "Company")
Issue of Equity
The board of Infinity (the "Board") is pleased to announce that,
following investor demand, the Company has raised approximately
£500,000, before expenses, through Peterhouse Corporate Finance, by
way of a placing of 555,558,200 new ordinary shares ("New Ordinary
Shares") at a price of 0.09p per share (the "Placing"). The Placing
is subject only to the admission of the New Ordinary Shares to
trading on AIM.
Application has been made for the New Ordinary Shares to be
admitted to trading on AIM and dealings are expected to commence on
or around 22 March 2017. The New Ordinary Shares will rank
pari passu with the existing ordinary shares.
The proceeds of the subscription will be used to increase the
cash reserves of the Company as the Board seeks to explore and
complete investment opportunities in line with its strategy in the
UK onshore oil and gas sector.
Commenting on the subscription, Gerwyn
Williams, Chairman of Infinity, said:
"I am very pleased in the continuing and growing confidence
being shown by investors in the Company. This further demonstration
of support for Infinity from the investment community provides the
opportunity to increase the free float of the Company and provide
the necessary funding to enable us to press forward with our
strategic goals. The Board believes that these further funds
are expected to be sufficient to provide the Company with the
funding required to undertake any required pre-completion work to
execute this strategy. Shareholders should rest assured that the
Company is committed to delivering news regarding the
implementation of this strategy in the short-term".
Following the issue of the New Ordinary Shares, the total number
of shares in issue is 923,260,234 ordinary shares, each with voting
rights. There are no shares held in treasury. Therefore, the total
number of voting rights in the Company is 923,260,234. This 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 a change to their interest under
the Disclosure and Transparency Rules.
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
For further information, please
contact:
Infinity Energy S.A.
Gerwyn Williams
Bruce Vandenberg |
Tel: +44 7889 677 397
Tel: +44 7899 791 726 |
Nomad
Cairn Financial Advisers LLP
Sandy Jamieson / James Caithie |
Tel: +44 207 213 0880 |
Joint-Broker
WH Ireland Limited
Paul Shackleton / Nick Prowting |
Tel: +44 207 220 1666 |
Joint-Broker
Peterhouse Corporate Finance Limited
Eran Zucker / Lucy Williams |
Tel: +44 20 7469 0930 |