Infrastrata PLC Appointment of Non-Executive Director (7967V)
July 26 2018 - 2:02AM
UK Regulatory
TIDMINFA
RNS Number : 7967V
Infrastrata PLC
26 July 2018
26 July 2018
InfraStrata plc
("InfraStrata" or the "Company")
Appointment of Non-Executive Director
InfraStrata plc (AIM: INFA), the UK quoted company focused on
the development of natural gas storage capacity, is pleased to
announce that the Company has made a key appointment to the Board
of Directors with the appointment of Arun Suri Raman as a
Non-Executive Director, with immediate effect.
Arun Raman has spent the past 20 years within the commodities
and infrastructure sector. While at Star Energy Group plc (now
known as Petronas Energy Trading Ltd.), Arun was responsible for
commercialising its 10BCF Humbly Grove Underground Gas Storage
Project, including the negotiation and commercial delivery of the
Gas Storage Agreement with Vitol SA as the capacity offtake client.
He also negotiated and executed agreements with the National Grid
in relation to physical gas flows between the Humbly Grove gas
storage facility and the National Transmission System. On the
trading side, Arun set up trading desks for natural gas, power and
carbon emissions for the group.
Following on from there, Arun was hired by Vitol Services Ltd.
in London where he was actively trading carbon emissions and other
commodities. Arun specialises in commercial negotiations and
monetising assets underpinned by commodity flows as well as trading
of commodities around such assets.
Arun is a qualified Chartered Accountant having completed his
training with PricewaterhouseCoopers and Citibank N.A. in India. He
has been a member of the Institute of Chartered Accountants of
India for the last 17 years post qualification. He also holds the
designation of Certified Internal Auditor awarded to him by the
Institute of Internal Auditors, Florida, USA. As a result of his
qualifications, Arun will chair the Audit Committee of InfraStrata
plc.
Welcoming the appointment, Chief Executive Adrian Pocock
stated:
"We are very pleased to welcome Arun to the Board of
InfraStrata. Arun is a highly qualified accountant whose skills
will complement those of the Board and unusually, has a great deal
of experience in the development of gas storage facilities and the
trading of gas. His expertise will be integral to our ongoing
commercialisation discussions and negotiations for InfraStrata's
Islandmagee gas storage project.
His knowledge and experience of the day to day operating
challenges and the maximisation of profitability for similar
projects to Islandmagee will be invaluable to the Board and to
shareholders."
Arun Suri Raman (also known as 'Raman Arun Suri Suryanarayan'),
aged 40, is, or has during the last five years been, a director or
partner of the following companies and partnerships:
Current directorships/partnerships Past directorships/partnerships
Geo Global Resources Limited APR Capital LLP
Mira Energy Group Limited Geo Global Group Limited*
Brook Online Limited Sun Resources (UK) Private Limited
Helm Natural Resources Madagascar SARL AACE Corn Limited
*Mr Raman is considered a past director of Geo Global Group
Limited pursuant to the definition within the AIM Rules for
Companies but this was not a statutory directorship position.
For further information, please contact:
InfraStrata plc c/o Yellow Jersey
Adrian Pocock, Chief Executive +44 (0)20 3735
8825
Allenby Capital Limited (AIM Nominated
Adviser & Joint Broker) +44 (0)20 3328
Jeremy Porter / Alex Brearley / Liz Kirchner 5656
SI Capital Limited (Joint Broker) +44 (0) 20 3871
Nick Emerson 4038
Yellow Jersey +44 (0)20 3735
Tim Thomson 8825
-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 GBP11.5m 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."
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
BOAFKPDPOBKDBOB
(END) Dow Jones Newswires
July 26, 2018 02:02 ET (06:02 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