29 April 2024
DIGITAL 9
INFRASTRUCTURE PLC
("D9" or
the "Company" and, together with its subsidiaries, the
"Group")
Additional RCF Repayment and
Partial Cancellation
The Board of D9 (the "Board") is
pleased to confirm that the Company has received the deferred
consideration payment of US$25 million (approximately £20 million*)
in connection with the sale of the Verne Global group of companies
(the "Verne Transaction")
which was announced on 15 March 2024.
The Company had previously
ringfenced £23 million from the Initial Purchase Price proceeds for
prudent capital management in connection with certain
indemnification provisions made in connection with the Verne
Transaction, as detailed in the announcement of 15 March 2024. Such
indemnification provisions have ceased to apply.
As such, the Company intends to make
a total additional repayment and partial cancellation of its
Group's Revolving Credit Facility ("RCF") in the amount of c.£47 million on
Friday 3rd May 2024. The repayment will also include
funds which can be released from the Interest Reserve as a
consequence of the repayment itself resulting in a reduced drawn
amount.
The resulting outstanding drawn
amount of c.£53 million compares with £373.8 million in March 2024.
The Board expects this reduction since March 2024 to result in a
net interest expense saving of c.£28 million to the end of the term
of the RCF, thereby enabling the Company to have achieved a
substantial balance sheet deleveraging following completion of the
Verne Transaction.
* GBP amounts based on a 1.25
USD/GBP exchange rate as of 25 April 2024.
ENDS.
FOR
FURTHER INFORMATION ON THE COMPANY, PLEASE
CONTACT:
|
Triple Point Investment Management
LLP
(Investment Manager)
Diego
Massidda
Ben Beaton
Arnaud Jaguin
|
+44 (0)20 7201
8989
D9contact@triplepoint.co.uk
|
|
Liberum Capital Limited (Financial Adviser)
Chris Clarke
Darren Vickers
Owen Matthews
|
+44 (0)203 100
2000
|
|
J.P. Morgan Cazenove (Corporate
Broker)
William Simmonds
Jérémie Birnbaum
|
+44 (0)20 7742
4000
|
|
FTI Consulting (Communications
Adviser)
Mitch
Barltrop
Maxime Lopes
|
dgi9@fticonsulting.com
+44 (0) 7807 296
032
+44 (0) 7890 896
777
|
About Digital 9 Infrastructure plc:
Digital 9 Infrastructure plc (DGI9)
is an investment trust listed on the London Stock Exchange and a
constituent of the FTSE All-Share, with the ticker DGI9. The
Company invests in the infrastructure of the internet that
underpins the world's digital economy: digital
infrastructure.
The Investment Manager is Triple
Point Investment Management LLP ("Triple Point") which is authorised and
regulated by the Financial Conduct Authority. For more information
on the Investment Manager please
visit www.triplepoint.co.uk.
For more information, please visit www.d9infrastructure.com.