Source - RNS
RNS Number : 1254J
Infrastrata PLC
26 June 2017
 

 

           

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

 

 

26 June 2017                                                                

 

 

InfraStrata plc

("InfraStrata" or the "Company")

 

 

Board Change

 

InfraStrata plc (AIM:INFA) announces today that Anita Gardiner is stepping down from her position as director with immediate effect to pursue new opportunities.

 

The Board would like to thank Anita for her contribution to the Company and wish her well for the future.

 

 

 

For further information please contact:

 

InfraStrata plc

 

Stewart McGarrity / Andrew Hindle                                                          +44 (0) 28 9051 1415

 

Nominated Adviser and Broker - Allenby Capital Limited

 

Jeremy Porter / Alex Brearley / Liz Kirchner                                             +44 (0)20 3328 5656

 

 

 

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 October 2013, the gas storage project was granted a 'Project of Common Interest' ("PCI") status by the European Commission. In 2015 a well was drilled to core the salt and confirm the technical feasibility of the project, supported in part by the Commission. The final stage before a Final Investment Decision will be the Front-End Engineering Design and Commercialisation of the project. To date approximately £11m has been invested in the project.

 

 

 

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."

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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