Infrastructure India plc Update on publication of Annual Report (4231N)
September 25 2023 - 2:00AM
UK Regulatory
TIDMIIP
RNS Number : 4231N
Infrastructure India plc
25 September 2023
25 September 2023
Infrastructure India plc
("IIP" or the "Company" and, together with its subsidiaries, the
"Group")
Update on publication of 2023 Annual Report
Infrastructure India plc, an AIM quoted infrastructure fund
investing directly into assets in India, provides the following
update in relation to its audited Annual Report and Financial
Statements for its financial year ended 31 March 2023 (the "2023
Annual Report ").
The Company notifies that it will not be in a position to
publish the 2023 Annual Report by 30 September 2023, as required by
Rule 19 of the AIM Rules for Companies (the "AIM Rules") which
requires publication of the 2023 Annual Report within 6 months of
the year end.
On 6 September 2023 the Company announced the conditional sale
of the Group's interest in 99.99% of Distribution Logistics
Infrastructure Private Limited ("DLI") to Pristine Malwa Logistics
Park Private Limited ("Pristine Malwa") in consideration for which
DLI will receive a cash payment of approximately US$10 million on
closing, and up to 33% of Pristine Malwa's issued share capital,
subject to customary adjustments based on the net current assets
and indebtedness of DLI on the closing date (the "DLI
Transaction"). Pristine Malwa is the parent company and c. 95%
shareholder of Sical Logistics Limited, a company listed on the
India's National Stock Exchange and the BSE (formerly named the
Bombay Stock Exchange).
Whilst the audit process is nearing finalisation, the Company
has been advised that certain disclosures in the 2023 Annual Report
in relation to the valuation of its 99.99% interest in DLI,
required to comply with IFRS disclosure obligations, are unable to
be published at the current time due to certain Securities and
Exchange Board of India (SEBI) restrictions linked to the DLI
Transaction.
Accordingly, the Company's ordinary shares will be suspended
from trading on AIM with effect from 7:30 a.m. on Monday 2 October
2023. The temporary suspension from trading on AIM will be lifted
once the 2023 Accounts have been published.
The Company expects to be in a position to complete the audit
and to report its 2023 Annual Report prior to the end of 2023.
Further updates will be notified in due course.
Notwithstanding the temporary suspension of trading in the
Company's ordinary shares, the Company will continue to make
announcements as and when there are any developments that require
announcement in accordance with its obligations under the AIM
Rules.
Enquiries:
www.iiplc.com
Infrastructure India plc Via Novella
Sonny Lulla
Strand Hanson Limited
Nominated Adviser
Richard Johnson / James Dance +44 (0) 20 7409 3494
Singer Capital Markets
Broker
James Maxwell - Corporate Finance
James Waterlow - Investment Fund
Sales +44 (0) 20 7496 3000
Novella
Financial PR
Tim Robertson / Safia Colebrook +44 (0) 20 3151 7008
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018 (as amended).
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END
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