INFINITY ENERGY S.A – Half-yearly Report

21 September 2015

Infinity Energy S.A.

(“Infinity Energy” or the “Company”)

 (formerly Global Brands S.A.)

Unaudited Interim Results for the six months ended 30 June 2015

Infinity Energy. (AIM: INFT) today reports its unaudited interim results for the six months ended 30 June 2015.

Interim Highlights:

• The Company received interest income of £3k (2014: £3k).
• Staff costs amounted to £18k (2014: £18k) and related solely to Directors fees.  Directors’ fees have been accrued and are shown in the balance sheet under ‘Provisions for other liabilities and charges’.
• Administrative costs for the period amounted to £40k (2014: £79k) and reflect continued stringent cost management.
• The total loss for the period was £65k (2014: £97k).

Key Developments during the Interim Period:

During the period the Board has worked hard to minimise costs while it continues to explore its investment opportunities in line with its strategy.  The Board believes it has made  progress in this area.

Post Balance Sheet Events:

On 4 August 2015, the Company announced that its name had changed from Global Brands S.A. to Infinity Energy S.A.   The Company’s TIDM changed to INFT with effect from 5 August 2015 to reflect this change.

It is envisaged that the Company will raise funding in the second half of 2015 to provide additional capital to pursue its Investing Policy.

For further information:

Infinity Energy S.A.

Gerwyn Williams                                                                              Tel:  +44 7889 677 397

Bruce Vandenberg CEO                                                                 Tel: + 44 7899 791 726

Nomad

Cairn Financial Advisers LLP

Sandy Jamieson/James Caithie                                                 Tel: + 44 207 148 7900

Broker

Alexander David Securities Ltd

David Scott                                                                                         Tel: +44 207 448 9821

STATEMENT OF COMPREHENSIVE INCOME

STATEMENT OF FINANCIAL POSTION

STATEMENT OF CASH FLOWS

STATEMENT OF CHANGES IN EQUITY

Notes to the interim report:

1        Activities

Infinity Energy became an Investing Company under the AIM Rules on 17 February 2012.  On 18 March 2013, shareholders approved the new investing policy which is 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 service sectors.  Such investments include the provision of financing by way of farm-ins, earn-ins, loans, equity or other forms of financing and investments in and to companies in these sectors.

2        Directors’ responsibility

The consolidated interim report and financial information contained therein are the responsibility of the Board of Directors of Infinity Energy S.A.  The interim report was approved by the Directors on 21 September 2015.  The interim report for the six month period to 30 June 2015 is unaudited.

The financial information for the year ended 31 December 2014 is extracted from the statutory audited annual accounts as adjusted for International Financial Reporting Standards (“IFRS”).  The report of the auditors, Baker Tilly Luxembourg, on the statutory annual accounts and on the IFRS financial statements, as at 31 December 2014, was unqualified.

3        Basis of accounting

The interim financial statements of Infinity Energy S.A. for the six month period ended 30 June 2015 and 30 June 2014 have been prepared using accounting policies on a basis consistent with those adopted for the year ended 31 December 2014.

The Company is an investment entity as defined by IFRS 10.  This requires the Company to consolidate all controlled entities involved in the provision of investment related services (either directly or through a subsidiary to third parties as well as its investors) and report all other subsidiary investments at fair value in the financial statements.

The Company controls Gas Exploration Finance Limited (GEF) through its 100% holding of GEF’s issued ordinary share capital.  GEF is incorporated in England and Wales.  GEF is the only subsidiary of the Company and does not provide investment related services.  GEF is therefore measured at fair value through the profit and loss.

4        Analysis of results

The Company received interest income of £3k (2014: £3k)

Staff costs amounted to £18k (2014: £18k) and related solely to Directors fees.  Directors’ fees have been accrued and are shown in the balance sheet under ‘Trade and other payables’.

Administrative costs for the period amounted to £40k (2014: £79k) and reflect continued stringent cost management.

The total loss for the period was £65k (2014: £97k)

5        Earnings (loss) per share

The calculation of the basic earnings per share is determined on the loss attributable to ordinary shareholders divided by the number of shares in issue during the period.

6        Convertible loan

The Company has received a convertible loan facility of GBP (£) 300,000 from its majority shareholder, Gerwyn Llewellyn Williams.

The key terms of the loan are as follows:

• The total loan facility is GBP (£)300,000;
• The drawn down loan amount bears interest at a rate of 6% per annum;
• The drawn down loan amount is convertible at the discretion of Mr Williams at a price of GBP (£)0.003 per share or repaid from the proceeds of the fund raising.