Holdings in Company

RNS Number : 4427A

Infrastrata PLC

11 September 2018

 

11 September 2018

InfraStrata plc

("InfraStrata" or the "Company")

Holdings in Company

InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, announces that the Company's Board became aware yesterday of a notification of a change in major holdings from Legal & General Group Plc that took place on 10 April 2018 and was sent to the Company on 12 April 2018 ("Notification"). This Notification was made as a result of a change in the number of ordinary shares in issue in the Company (and not through an acquisition or disposal of shares) and is set out below. 

It is important to note that this Notification, as set out below, has now been superseded by the notification announced yesterday, which confirmed that as from 1 June 2018, Legal & General Group Plc holds less than 3 per cent. of the Company's issued share capital.

The new executive team at InfraStrata has taken steps to improve IT and ensure that any future such notifications are announced to the market in a timely manner.

The standard form TR-1 notification of major holdings that was received on 12 April 2018 is reproduced below.

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:			Infrastrata Plc 2138001JAP311MVUZ948
1b. Please indicate if the issuer is a non-UK issuer  (please mark with an "X" if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights						x
Other (please specify)iii:
3. Details of person subject to the notification obligationiv
Name			Legal & General Group Plc (Group) Legal & General Investment Management Limited (LGIM)
City and country of registered office (if applicable)			1 Coleman St, London EC2R 5AA
4. Full name of shareholder(s) (if different from 3.)v
Name			Legal & General Assurance Society (LGAS)
City and country of registered office (if applicable)			1 Coleman St, London EC2R 5AA
5. Date on which the threshold was crossed or reachedvi:			10 April 2018
6. Date on which issuer notified (DD/MM/YYYY):			12 April 2018
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached	3.57% (L&G)	-		3.57% (L&G)	894,973,653
Resulting situation on the date on which threshold was crossed or reached	Below 5% (LGIM)	-		Below 5% (LGIM)	894,973,653
Position of previous notification (if applicable)	5.10% (L&G)	-		5.10% (L&G)
Position of previous notification (if applicable)	9.93% (LGIM)	-		9.93% (LGIM)

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rightsix					% of voting rights
		Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)			Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)
ORD GBP0.01 (L&G Group)		31,975,000		-			3.57%		-
ORD GBP0.01 (L&G Group)		-		Below 5%			-		Below 5%
SUBTOTAL 8. A		31,975,000					3.57%
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial instrument		Expiration datex	Exercise/ Conversion Periodxi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights
			SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument	Expiration datex		Exercise/ Conversion Period xi		Physical or cash settlementxii			Number of voting rights	% of voting rights
					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)				x
Namexv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
Legal & General Group (Direct/Indirect)	Below 5%		Below 5%
Legal & General Investment Management (Holdings) Limited (Direct/Indirect)	Below 5%		Below 5%
Legal & General Assurance Society (Direct)	3.57%		3.57%
Legal & General Group (Direct/Indirect)	Below 5%		Below 5%
Legal & General Investment Management (Holdings) Limited (Direct/Indirect)	Below 5%		Below 5%
Legal & General Assurance (Pensions Management) Limited (Direct)	0%		0%
Legal & General Group (Direct/Indirect)	Below 5%		Below 5%
Legal & General Investment Management (Holdings) Limited (Direct/Indirect)	Below 5%		Below 5%
Legal & General Investment Management Limited (Indirect)	Below 5%		Below 5%
Legal & General Group (Direct/Indirect)	Below 5%		Below 5%
Legal & General Investment Management (Holdings) Limited (Direct/Indirect)	Below 5%		Below 5%
Legal & General (Unit Trust Managers) Limited (Indirect)	0%		0%
Legal & General Group (Direct/Indirect)	Below 5%		Below 5%
Legal & General Investment Management (Holdings) Limited (Direct/Indirect)	Below 5%		Below 5%
Go ETF Solutions	0%		0%
10. In case of proxy voting, please identify:
Name of the proxy holder		N/A
The number and % of voting rights held		N/A
The date until which the voting rights will be held		N/A
11. Additional informationxvi
Notification using the total voting rights figure of  894,973,653

Place of completion	Brunel House, 2 Fitzalan Road, Cardiff, CF24 0EB
Date of completion	12/04/2018

For further information, please contact:

InfraStrata plc John Wood, Chief Executive	c/o Yellow Jersey [phone]
Allenby Capital Limited (AIM Nominated Adviser & Joint Broker) Jeremy Porter / Alex Brearley / Liz Kirchner	[phone]
SI Capital Limited (Joint Broker) Nick Emerson	[phone]
Yellow Jersey Tim Thomson	[phone]

-ENDS-

Notes to editors:

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 European Commission. The Front End Engineering and Design (FEED) element of the Project is scheduled for completion by the end of 2018. To date approximately £11.5m has been invested in the project.

Further information is available on the company's website: www.infrastrata.co.uk

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."

 

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