Infrastrata PLC Board changes (9899V)
November 09 2017 - 2:02AM
UK Regulatory
TIDMINFA
RNS Number : 9899V
Infrastrata PLC
09 November 2017
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
9 November 2017
InfraStrata plc
("InfraStrata" or the "Company")
Board changes
InfraStrata plc (AIM: INFA), the only UK quoted company focused
on gas storage, is pleased to announce the appointment of Karen
Campbell as a Non-Executive Director of the Company with immediate
effect. Karen brings with her extensive experience, skills and
contacts from her background of managing major construction
projects.
The Board also wishes to announce the resignation of Peter Wale
as a Non-Executive Director, with immediate effect. Peter has been
fundamentally important to the success of taking the Company
forwards, following the general meeting on 27 June 2017, when he
was appointed as a Non-Executive Director.
The Company has been through a period of transition since the
general meeting in June and now has the key members of its Board in
place as well as having raised funds as announced on 2 October 2017
which has put the Company in a stronger position from which to seek
longer-term sources of financing.
Karen Campbell
Karen Campbell is a highly experienced, well connected senior
property and infrastructure development executive, with extensive
leadership experience in major complex London, national and
international infrastructure, rail, mixed commercial and
residential development programmes. Since 2015, she worked as
Senior Development Manager and subsequently Head of Oversite
Development for Crossrail Limited to develop its extensive property
portfolio including prime office, retail and residential space.
Karen has recently been appointed as Head of Commercial Development
for Euston & Old Oak Common at High Speed Two (HS2) Limited,
the company responsible for developing and promoting the UK's new
high-speed rail network. Karen is a member of the Royal Institution
of Chartered Surveyors and began her career with Colliers CRE
Chartered Surveyors, going on to hold senior level positions with
organisations such as Montagu Evans LLP, BT Group plc and
Manchester Airport Group.
Adrian Pocock, Chief Executive of InfraStrata, commented:
"Further to the recent appointments of Graham Lyon and Matthew
Beardmore, we are delighted to welcome Karen Campbell to join our
Board. Karen has significant experience with large infrastructure
projects and brings excellent contacts and negotiating
leverage.
It is with great regret that Peter has decided that he can no
longer commit the time necessary to continue in his role with
InfraStrata, as a result of his exceptionally busy schedule
relating to his other directorship with Strategic Minerals plc.
Peter has stated that he intends to retain his shareholding in
InfraStrata and we part with reciprocal best wishes to the future
success of both companies.
Peter has made a huge contribution to the Company over the last
four months or so, and the new Board thanks him for his
determination in ensuring that the Company is now in a position to
move forwards"
AIM rules disclosures
Karen Campbell (neé Estlick and Jenner is Ms Campbell's married
name now) is aged 41 and is currently a director of KC Advisory
Management Limited.
Karen was a director of LDL Management Limited until 15 January
2015, which was put into a creditors' voluntary liquidation on 22
January 2015 with an estimated deficiency to creditors and members
of approximately GBP172,000.
For further information, please contact:
InfraStrata plc +44 (0)28 9051
Adrian Pocock, Chief Executive 1415
Allenby Capital Limited (AIM Nominated
Adviser & Broker)
Jeremy Porter / Alex Brearley +44 (0)20 3328
/ Liz Kirchner 5656
-ENDS-
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 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 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 GBP11m has been invested in the project.
Further information is available on the project company's
website: www.islandmageestorage.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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