InfraStrata agrees contract for the purchase of Harland and Wolff’s assets

In conjunction, it has launched a fundraise of up to £6 million to fund the £5.25 million consideration.

Highlights:

• This agreement marks a significant milestone toward the completion of the acquisition.
• The acquisition will bring in-house a large part of the engineering and fabrication requirements for the company’s Islandmagee Gas Storage Project and proposed FSRU project.
• 100% of the 79 employees will be retained immediately following completion of the fundraise and the subsequent General Meeting to approve the raise.
• The board intends to make an open offer to shareholders to allow private investors to subscribe at the same price as institutions.
• Directors have indicated that they intend to participate.
• The book will close on 11 November.