Infinity Energy : Annual Report and Financial Statements for the year ended 31 December 2015

6d0bb26d-e686-4cbd-997f-6f69db61ecc8.pdf

INFINITY ENERGY S.A. (FORMERLY GLOBAL BRANDS S.A.)

ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31DECEMBER 2015

TABLE OF CONTENTS

COMPANY INFORMATION 3

CHAIRMAN'S STATEMENT 4

DIRECTORS' REPORT ON THE FINANCIAL STATEMENTS 5

AUDIT REPORT 10

STATEMENT OF COMPREHENSIVE INCOME 12

STATEMENT OF FINANCIAL POSTION 13

STATEMENT OF CASH FLOWS 14

STATEMENT OF CHANGES IN EQUITY 15

NOTES TO THE FINANCIAL STATEMENTS 16

2

COMPANY INFORMATION

Infinity Energy S.A. (formerly Global Brands S.A.) ("Infinity Energy" or the "Company") is a public limited liability company incorporated under the laws of Luxembourg on 6 July 1999 by a notary act drawn up by Maitre Alex Weber, a notary residing in Luxembourg. The act was published in the legal gazette, the Memorial C N° 723 of 29 September 1999.

Prior to 2012, the Company owned the exclusive master franchise for Domino's Pizza in Switzerland, Luxembourg and Liechtenstein. On 2January 2012, shareholders agreed to demerge the pizza business into its subsidiary Domino's Pizza Switzerland AG ("DPS"), transfer the shares of that subsidiary directly to the shareholders and convert the Company into an Investing Company. The demerger became effective on 17 February 2012 and the Company became an Investing Company under the AIM Rules for Companies ("AIM Rules"). On 18 March 2014, the Company adopted and implemented a 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 and 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.

The Company is traded on AIM, a market operated by the London Stock Exchange, under the company code "INFf ". The share price and regulatory information are available on the Company's websitewww.infinityenergy.eu. On 4August 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 INFf with effectfrom 5 August 2015 to reflect this change.

Registered number RCS Luxembourg B 70673 Registered office 19 rue Eugene Ruppert L-2453, Luxembourg Board of Directors John Killer,Non-Executive Chairman

Gerwyn Williams, Chief Executive Officer Bruce Vandenberg, Non-Executive Director Gary Neville, Non-Executive Director

Nominated Adviser Cairn Financial Advisers LLP

61 Cheapside London EC2V 6AX

Broker W H Ireland

11 St. James's Square Manchester M2 6WH

Independent Auditors Baker Tilly Luxembourg Audit S.a r .l.

37 Rue des Scillas L-2529 Howald

Registrar Computershare Investor Services (Jersey) Limited Queensway House

Hilgrove Street St Helier

Jersey JE11ES

Registrar in Luxembourg Carey SA

19 Rue Eugene Ruppert L-2453 Luxembourg

3

"S STATlDT EX r

Inii n!l?,En ·r.!. ht.: ..r:1.at! h1:,tw·,w:pJ, uml ·rih .I I Ru h ,)n 1-:-F,!i n.:nr,_ n12.On18.-larch_:?Oq. h .1rf'i111ld,•r-. a pn ,•c ·hf', "'\in,·poliy.d1lchii, ,m,d,l'i n,··.·1'H ..a n .l at:i i i.i1:011-,.c:ih1"·'h nm:;bl.1ei·"'"·:,,··,:,."Hii1·.,,v·!11cJ,f'.i ,it; 1·1t1.·1:

a:idn·)t1p: 1ic·. ,-,,jt h,.:ir.i:·viii..::,• ', ·i'1n.ntliii • -S•'t tur ' :d1 n:?

Im pl.c1i - Hlil::(h'1: •:-..kL•,,.·t ,r_·nd1 h,·,,:r •·ill:-iw·!ud(• thprn,. c; .•,i

li11am:i, .n , ,,f J ann-i n. c·;!r!:.-i n-...j•,;:-ut1 h11 ,,•iit :,,r moi' finn-::L!. .:

i t'l:i!'·..i,1ti,t'OC) ,1.1:r,s!11 tht"'t!''-! or. •

.J nhu h.iHcr

1.J u nc 2016