This is an advertisement and not a prospectus. Investors should not purchase or subscribe for any securities referred to in this advertisement except on the basis of information contained in the prospectus (the “Prospectus”) published by Infinis Energy plc, the holding company and immediate parent, to Infinis Holdings and members of the Infinis group. Copies of the Prospectus are available on this website.

About the Infinis Energy share offer

Infinis has announced its intention to proceed with an initial public offering (the "Offer") and to submit an application for listing of its ordinary shares to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange plc’s main market for listed securities.

The Offer comprises an institutional offer to institutional investors in qualifying jurisdictions and an intermediaries offer offered to intermediaries in the UK who will facilitate participation of their retail investor clients in the UK, the Channel Islands and the Isle of Man.

The Infinis share offer is now closed. Details on pricing and allocation are set out in the Pricing and Allocation Announcement available on this website. If you applied for shares you must contact your stockbroker or share dealing provider for details on your individual allocation.

Business overview

  • Infinis is the leading independent renewable energy generator in the UK, is the largest generator of electricity from landfill gas in the UK and one of the leading UK onshore wind generators.
  • During the financial year ended 31 March 2013, Infinis exported 2.5 TWh of electricity, representing approximately 7 per cent. of the overall renewable electricity produced under the Renewables Obligation in the UK for that period.
  • Infinis owns and operates 147 generating plants distributed across the UK and has a total installed capacity of 621 MW.
  • Infinis’ portfolio is spread across four distinct business divisions: the Landfill Gas Business, the Onshore Wind Business, the Hydro Business and the Wind Development Business. Infinis has a substantial organic onshore wind development pipeline.
  • Over the last three financial years Infinis’ EBITDA has increased from £100m in the financial year ended 31 March 2011 to £125m in the financial year ended 31 March 2013.
  • For the current financial year ending 31 March 2014, Infinis intends to declare a pro rata dividend equivalent to an annual dividend of £55m in respect of the stub period following IPO. For the financial year ending 31 March 2015, the first full financial year after IPO, Infinis intends to declare a dividend of £55 million.[1]
  • Infinis operates a differentiated business model, with significant experience and operating systems to manage in-house the majority of the renewable energy value chain, from obtaining planning consents and development to construction, operation and maintenance.

Further information in relation to Infinis and the Offer can be found on the right hand side of this page.

RISK FACTORS

  • Past performance of Infinis is not a reliable guide as to future performance.
  • Prices of, and any dividends paid on, shares may go down as well as up and in the worst case you could lose all of your investment. 
  • Economic conditions beyond Infinis’ control could have an adverse effect on the financial performance of Infinis. 
  • Unfavourable weather conditions may adversely affect the financial performance of Infinis. 
  • Immediately following admission to trading, there will be one shareholder who will own a significant percentage of the shares in Infinis. As a result that shareholder will be able to exert a significant degree of influence over the outcome of certain matters to be considered by the shareholders.
  • Infinis' results from operations are dependent on UK wholesale power prices.
  • The development of renewable energy sources and generation of renewable energy in the UK relies, in large part, on the national and international regulatory and financial support of renewable energy. It is possible that this approach could be modified or changed in future, including as a result of a change in government or a change in government policy, and there is no guarantee that the practice of grandfathering will be continued. The Group's development and future operations are particularly vulnerable to changes in EU and UK law or regulations.
  • On an overall basis, the landfill gas produced by the landfill sites from which the Group collects landfill gas is naturally declining and will continue to decline naturally over time, and the amount of landfill gas actually produced in future may vary substantially from estimates.
  • The Group is subject to certain significant restrictive covenants under its financing agreements which limit, to a certain extent, its operating flexibility and potentially its ability to meet its dividend and growth policy.
  • The construction of the Group’s Wind Development Business entails certain risks, both from a technical perspective as well as in terms of the timing of the various construction phases. A number of problems may arise in relation to the Group’s development projects during construction which may cause delays to commencement of generation. 
  • Volatility in credit and capital markets may make it more difficult for the Group to borrow money or raise capital needed to further develop its Wind Development Business, or finance any acquisitions it may undertake.

This is an advertisement and not a prospectus. Potential investors should read the Prospectus relating to the Offer, and you should make your investment decision based only on the information contained in the Prospectus, which is available on this page.

This advertisement has been prepared by and is the sole responsibility of Infinis Energy plc and has been approved solely for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000 by Barclays Bank PLC ("Barclays"). Barclays, whose registered office is 1 Churchill Place, London E14 5HP, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

This advertisement does not constitute an offer or recommendation concerning the securities referred to in this advertisement. Past performance of Infinis is not a guide as to future performance. Information in this advertisement cannot be relied upon as a guide to future performance. Prices of, and any dividends paid in respect of shares may go down as well as up and in the worst case you could lose all of your investment. Before purchasing any securities referred to in this advertisement, persons viewing the advertisement should make sure that they fully understand and accept the risks which are set out in the Prospectus referred to above. Any prospective investor is recommended to consult an independent financial advisor as to the suitability of the securities referred to in this advertisement for the person concerned.

Barclays is acting exclusively for Infinis and Monterey Capital II S.à r.l. (the “Selling Shareholder”) and for no-one else in relation to or in connection with the Offer and will not be responsible to anyone other than Infinis and the Selling Shareholder, and is not providing, and will not provide, advice in relation to the Offer or any matter referred to in this advertisement. This advertisement does not constitute an offer or recommendation to subscribe for or purchase any shares of Infinis. This advertisement is not for distribution or publication in any jurisdiction outside the UK, the Channel Islands or the Isle of Man.


[1] The projected dividends set out are targets only and not profit forecasts. There can be no assurance that these targets can or will be met and they should not be seen as an indication of the Group’s expected or actual results or returns. Accordingly investors should not place any reliance on these targets in deciding whether to invest in the ordinary shares nor assume that Infinis will make any distributions at all. The Group may revise its dividend policy from time to time.

IPO Documents

20 11 2013

Admission announcement

15 11 2013

Pricing statement

04 11 2013

Price Range Prospectus – 4 November 2013

04 11 2013

Price Range and Offer Launch Announcement

21 10 2013

Intention to float announcement