REG - Infrastrata PLC - Proposed Change of Name

Harland & Wolff groupAnnouncement

14/09/2021 07:00

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RNS Number : 6382L  Infrastrata PLC  14 September 2021

14 September 2021

InfraStrata plc

("InfraStrata" or the "Company")

 

Proposed change of name to Harland & Wolff Group Holdings plc

 

InfraStrata plc (AIM: INFA), the UK quoted company focused on strategic
infrastructure projects and physical asset lifecycle management, is pleased to
announce it has applied to Companies House to trade under the name Harland
& Wolff Group Holdings plc.

 

The Company has, over the past 18 months, proceeded through various phases
which have included, the acquisition of assets, significant upgrades to all
its facilities, the introduction of state-of-the-art technology and has
simultaneously established a substantial sales pipeline.

 

The Company is now at its final stage of full reactivation of all its yards,
which involves building a multi-year backlog for its facilities across its
five key markets: defence, cruise and ferry, commercial, renewables and
energy. The Company believes that this change of name will better reflect its
ambition in expanding its core business and the significant development of its
shipbuilding and fabrication activities.

 

The Company's flagship Islandmagee gas storage project will retain its name,
with management remaining focused on obtaining the Marine Construction Licence
and Final Investment Decision (FID) thereafter. Whilst the project now has
substantially more life expectancy with the need for major volumes of hydrogen
storage (subject to regulatory approvals) it is a relatively straightforward
technical change to make in a phased approach as the project transitions from
gas to hydrogen over time.

 

Trading in the Company's shares on the AIM market of the London Stock Exchange
under the new name of Harland & Wolff Group Holdings plc is expected to
take effect as soon as the relevant Companies House filings have been received
and lodged with the London Stock Exchange. It is expected that the Company's
shares will trade under the new TIDM (stock ticker) of "HARL". A further
announcement will be made shortly once the name change has become effective.
The Company's ISIN remains unchanged.  No new share certificates are being
issued in respect of existing Ordinary Shares held in certificated form.
Shareholders should retain their existing share certificates which will
continue to be valid.

 

In order to reflect the change of name, the Company's corporate website will
change to www.harland-wolff.com (http://www.harland-wolff.com) . The
information required pursuant to AIM Rule 26 will be available at this
address.

 

John Wood, CEO of InfraStrata plc commented on today's announcement: "We are
delighted to make this announcement today, signalling the end of upgrade and
reactivation phases. With the new national shipbuilding strategy due to be
released in the autumn and the government's 10-point plan for a Green
Industrial Revolution, we have confidence that the shipbuilding and
fabrication business will deliver substantial value to all our stakeholders as
we enter this exciting new stage of building our multiyear backlog of
projects.

 

Since acquiring Harland & Wolff in December 2019, we have seen the
organisation grow significantly; in August 2020 we reopened what is now known
as Harland & Wolff (Appledore) and in February 2021, we acquired two
ex-BiFab sites based in Scotland - now renamed Harland & Wolff (Arnish)
and Harland & Wolff (Methil) respectively giving us one of the largest
fabrication footprints dedicated to our core markets, in addition to two of
the largest drydocks in Europe which at 80% capacity could give sales of in
excess of £500m per annum when operational efficiencies have been achieved.

 

This is a natural progression in building and further developing the Harland
& Wolff brand, our commitments to high-quality jobs across our five
markets including the 34 apprenticeships recently announced as well as
providing socio-economic investment into local, regional, and national
communities."

 

 

 

 

 

 

 

 

 

For further information, please visit www.harland-wolff.com
(http://www.harland-wolff.com)   or contact:

 

 InfraStrata plc                                         +44 (0)20 3900 2122

 John Wood, Chief Executive                              investor@infrastrataplc.com (mailto:investor@infrastrataplc.com)

 Seena Shah, Head of Marketing & Communications          media@harland-wolff.com

 Cenkos Securities plc (Nominated Adviser & Broker)      +44 (0)20 7397 8900

 Stephen Keys / Callum Davidson (Corporate Finance)

 Michael Johnson (Sales)

 

 

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