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
£600,000, before expenses, through Peterhouse Corporate Finance, by
way of a placing of 461,542,700 new ordinary shares ("New Ordinary
Shares") at a price of 0.13p per share (the "Placing"). The Placing
is subject only to the admission of the New Ordinary Shares to
trading on AIM.
Application will be made for the New Ordinary Shares
to be admitted to trading on AIM and dealings are expected to
commence on or around 18 April 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, Chief Executive Officer of Infinity, said:
"I am very pleased with the continuing and growing confidence in
the Company being shown by investors. We are now a well capitalised
Company and as such we are now pressing forward with our strategic
goals. I look forward to updating shareholders on 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 1,754,033,703 ordinary shares, each with
voting rights. There are no shares held in treasury. Therefore, the
total number of voting rights in the Company is 1,754,033,703. 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 |