Learn from the past - Provide for the future
Infinity Energy Limited (formerly Infinity Energy SA) (“Infinity” or “the Company”) is incorporated in Guernsey and its main country of operation is currently the UK.
On 17 February 2012, the Company became an Investing Company under the AIM Rules.
On 18 March 2013, the Company adopted and implemented a new investing policy which was to make investments and acquisitions, either through the issues of securities or for cash, in quoted and non-quoted companies and their securities, in the commodities sector with an emphasis on oil and gas and oil and gas service sectors.
The AIM Team decided that the Company would be designated as an AIM Rule 15 cash shell, which meant that the Company had to make an acquisition or acquisitions which constituted a reverse takeover under Rule 14 of the AIM Rules.
On 12 April 2017, the Company decided that it should focus on completing a suitable reverse takeover transaction by 12 October 2017, otherwise the trading of the Company’s shares on AIM would be suspended. The Company investigated a number of potential reverse takeover candidates in the oil and gas and other sectors.
If the Company was unable to make an acquisition or acquisitions which constituted a reverse takeover under Rule 14 of the AIM Rules within six months of the suspension, the admission of the Company’s shares to trading on AIM would be cancelled. The Company was unable to make the necessary acquisition and the the admission of the Company’s shares to trading on AIM was therefore cancelled on 16 April 2018.
Infinity Energy Limited has since agreed to acquire 26% of Transgas Limited, a company owned by Gerwyn Williams, Infinity Energy’s CEO. Transgas’ subsidiary, South Western Energy Limited, holds 203,590 acres of PEDLs in North Somerset and in Dorset adjacent to Wytch Farm, this being one of the most productive oil provinces onshore in Europe. As part of that acquisition, the Company has announced that it is currently seeking a listing on the Standard Segment of the Main Market of the London Stock Exchange. The UKLA confirmed that Infinity Energy is eligible for listing on the Standard Segment of the Main Market of the London Stock Exchange subject to all conditions being met.
The acquisition and listing process was planned to be completed by the end of September 2018, however, an unforeseen delay occurred in the listing date due to the Board being advised that all UKLA approvals would have to be duplicated in Luxembourg (while the Company was domiciled there) and approved by the CSSF (Commission de Surveillance du Secteur Financier) as well as the UKLA.
Infinity Energy has since migrated from Luxembourg to Guernsey. The Company remains as the same legal entity. The effective date of the migration was the 2 May 2019.
Any queries should be directed to Peterhouse Capital. Gerwyn Williams, being the vendor in the acquisition which forms part of the listing, cannot respond to any queries as the process is a related party transaction carried out on an arm’s length basis.