TIDMINFA
RNS Number : 2793F
Infrastrata PLC
19 February 2018
19 February 2018
InfraStrata plc
("InfraStrata" or the "Company")
Director shareholding and grant of share options
InfraStrata plc (AIM: INFA), the only UK quoted company focused
on gas storage, announces that Graham Lyon, Chairman of
InfraStrata, purchased 3,085,915 ordinary shares in the Company at
a price of GBP 0.00273 per share on 16 February 2018. Following
this purchase, Mr Lyon is beneficially interested in 4,000,000
ordinary shares in InfraStrata, equivalent to 0.64% of the
Company's issued ordinary share capital.
The Company also announces that it has granted share options to
the Board in order to further incentivise them and align their
interests with shareholders of the Company.
As stated in the Chairman's statement in the Company's final
results for the year ended 31 July 2017, announced on 30 January
2018, the Board aims to be one of the most cost-efficient for a
company quoted on AIM and ongoing salary costs have been reduced by
over 50 percent. compared with those prior to the restructuring of
the Board in June 2017. The Board therefore believes that the
granting of share options to directors is the most cost effective
mechanism of incentivising them. The Board is focused on securing
matched funding required in order to utilise its agreed EU grant to
progress work on the Front End Engineering & Design ("FEED")
for its Islandmagee gas storage project (the "Project").
A total of 30,000,000 options over new ordinary shares of 0.01p
each in the Company ("Options") have been granted to all the
directors of the Company, with each director receiving 7,500,000
Options. The Options are exercisable at a price of 1 penny per
share (a premium of 270 per cent. to the closing share price on 16
February 2018) for a period of five years. The Options are subject
to performance criteria and become exercisable in tranches as
follows:
-- as to one third of Options held upon completion of the FEED;
-- as to one third of Options held upon commencement of
construction of the Project following a successful conclusion of
the Financial Investment Decision; and
-- as to one third of Options held upon the date of first gas stored at the Project.
The Options become exercisable immediately in the event of a
sale of the Company, its subsidiary (subject to the Project
comprising an asset of the subsidiary) or the Project, and in
customary "good leaver" circumstances.
For further information, please contact:
InfraStrata plc c/o Yellow
Adrian Pocock, Chief Executive Jersey
+44 (0)20 3735
8825
Allenby Capital Limited (AIM Nominated
Adviser & Broker)
Jeremy Porter / Alex Brearley +44 (0)20 3328
/ Liz Kirchner 5656
Yellow Jersey +44 (0)20 3735
Tim Thomson 8825
-S-
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 is a proposed salt cavern
gas storage facility located on Islandmagee in County Antrim,
Northern Ireland.
The Board of InfraStrata believes that the proposed 500 million
cubic metres Natural Gas Cavern Storage facility will provide over
25% of the UK's Natural Gas Storage once constructed, and will be
situated adjacent to the Scotland Northern Ireland (gas) Pipeline
(SNIP) and the Moyle 500 Megawatt Electricity Interconnector.
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 GBP11.5m has been invested in the project.
Further information is available on the project company's
website: www.islandmageestorage.com.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them:
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------
a) Name Graham Lyon
--- ------------------ --------------------------------
2 Reason for the notification
--- ----------------------------------------------------
a) Position/status Non-Executive Chairman
--- ------------------ --------------------------------
b) Initial Initial notification
notification
/Amendment
--- ------------------ --------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------
a) Name InfraStrata plc
--- ------------------ --------------------------------
b) LEI 2138001JAP311MVUZ948
--- ------------------ --------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ----------------------------------------------------
a) Description Ordinary shares of 0.01p
of the
financial
instrument, GB00B28YMP66
type of
instrument
Identification
code
--- ------------------ --------------------------------
b) Nature Purchase of shares
of the
transaction
--- ------------------ --------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------- ----------
GBP 0.00273 3,085,915
------------- ----------
--- ------------------ --------------------------------
d) Aggregated
information n/a
- Aggregated
volume
- Price
--- ------------------ --------------------------------
e) Date of 16 February 2018
the transaction
--- ------------------ --------------------------------
f) Place London Stock Exchange, AIM
of the
transaction
--- ------------------ --------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ---------------------------------------------------------
a) Name Adrian Pocock
--- ----------------- --------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------
a) Position/status Chief Executive
--- ----------------- --------------------------------------
b) Initial Initial notification
notification
/Amendment
--- ----------------- --------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------
a) Name InfraStrata plc
--- ----------------- --------------------------------------
b) LEI 2138001JAP311MVUZ948
--- ----------------- --------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ---------------------------------------------------------
a) Description Options over ordinary shares of
of the 0.01p
financial
instrument,
type of GB00B28YMP66
instrument
Identification
code
--- ----------------- --------------------------------------
b) Nature Grant of options
of the
transaction
--- ----------------- --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------------ ----------
Exercise price
of 1p per share 7,500,000
------------------ ----------
--- ----------------- --------------------------------------
d) Aggregated
information n/a
- Aggregated
volume
- Price
--- ----------------- --------------------------------------
e) Date of 16 February 2018
the transaction
--- ----------------- --------------------------------------
f) Place Outside of trading venue - grant
of the of options
transaction
--- ----------------- --------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ---------------------------------------------------------
a) Name Graham Lyon
--- ----------------- --------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------
a) Position/status Non-Executive Chairman
--- ----------------- --------------------------------------
b) Initial Initial notification
notification
/Amendment
--- ----------------- --------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------
a) Name InfraStrata plc
--- ----------------- --------------------------------------
b) LEI 2138001JAP311MVUZ948
--- ----------------- --------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ---------------------------------------------------------
a) Description Options over ordinary shares of
of the 0.01p
financial
instrument,
type of GB00B28YMP66
instrument
Identification
code
--- ----------------- --------------------------------------
b) Nature Grant of options
of the
transaction
--- ----------------- --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------------ ----------
Exercise price
of 1p per share 7,500,000
------------------ ----------
--- ----------------- --------------------------------------
d) Aggregated
information n/a
- Aggregated
volume
- Price
--- ----------------- --------------------------------------
e) Date of 16 February 2018
the transaction
--- ----------------- --------------------------------------
f) Place Outside of trading venue - grant
of the of options
transaction
--- ----------------- --------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ---------------------------------------------------------
a) Name Karen Campbell
--- ----------------- --------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------
a) Position/status Non-Executive Director
--- ----------------- --------------------------------------
b) Initial Initial notification
notification
/Amendment
--- ----------------- --------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------
a) Name InfraStrata plc
--- ----------------- --------------------------------------
b) LEI 2138001JAP311MVUZ948
--- ----------------- --------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ---------------------------------------------------------
a) Description Options over ordinary shares of
of the 0.01p
financial
instrument,
type of GB00B28YMP66
instrument
Identification
code
--- ----------------- --------------------------------------
b) Nature Grant of options
of the
transaction
--- ----------------- --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------------ ----------
Exercise price
of 1p per share 7,500,000
------------------ ----------
--- ----------------- --------------------------------------
d) Aggregated
information n/a
- Aggregated
volume
- Price
--- ----------------- --------------------------------------
e) Date of 16 February 2018
the transaction
--- ----------------- --------------------------------------
f) Place Outside of trading venue - grant
of the of options
transaction
--- ----------------- --------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ---------------------------------------------------------
a) Name Matthew Beardmore
--- ----------------- --------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------
a) Position/status Non-Executive Director
--- ----------------- --------------------------------------
b) Initial Initial notification
notification
/Amendment
--- ----------------- --------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------
a) Name InfraStrata plc
--- ----------------- --------------------------------------
b) LEI 2138001JAP311MVUZ948
--- ----------------- --------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ---------------------------------------------------------
a) Description Options over ordinary shares of
of the 0.01p
financial
instrument,
type of GB00B28YMP66
instrument
Identification
code
--- ----------------- --------------------------------------
b) Nature Grant of options
of the
transaction
--- ----------------- --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ------------------ ----------
Exercise price
of 1p per share 7,500,000
------------------ ----------
--- ----------------- --------------------------------------
d) Aggregated
information n/a
- Aggregated
volume
- Price
--- ----------------- --------------------------------------
e) Date of 16 February 2018
the transaction
--- ----------------- --------------------------------------
f) Place Outside of trading venue - grant
of the of options
transaction
--- ----------------- --------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHSFWFFUFASEFE
(END) Dow Jones Newswires
February 19, 2018 06:18 ET (11:18 GMT)
Harland & Wolff (LSE:HARL)
Historical Stock Chart
From Apr 2024 to May 2024
Harland & Wolff (LSE:HARL)
Historical Stock Chart
From May 2023 to May 2024