Issue of Equity (1016O)
September 13 2011 - 2:00AM
UK Regulatory
TIDMINPP
RNS Number : 1016O
International Public Partnership Ld
13 September 2011
13 September 2011
international public partnerships limited
Issue of Equity
ISSUE OF EQUITY
International Public Partnerships Limited ("INPP" or "the
Company") is pleased to announce that 46,428,447 new ordinary
shares of 0.01p each were issued for cash on an ex-dividend basis
at 112.075 pence per share (the "Issue Price"). A dividend of 2.925
pence is to be paid on 28 October 2011.
The Issue Price represents a premium of 1.3 per cent to the
equivalent ex-dividend net asset value of 110.68 pence per ordinary
share as at 30 June 2011, being the last net asset value published
prior to this announcement.
As a result of the issue of equity set out above, the Company's
issued share capital now consists of 530,712,917 ordinary shares.
The Company has currently fully utilised its ability to issue
shares without the publication of a prospectus.
The proceeds will be used to partially pay down the existing
GBP100 million corporate facility which is currently GBP60 million
drawn.
Application will be made to the UK Listing Authority and to the
London Stock Exchange plc for the new ordinary shares to be
admitted to the Official List maintained by the UK Listing
Authority, and to be admitted to trading by the London Stock
Exchange plc on its market for listed securities. It is expected
that such admissions will become effective at 8 a.m. on 19
September 2011.
Keith Dorrian, Chairman, International Public Partnerships
Limited, said:
"The Board is pleased to announce the issuance of approximately
GBP52 million of new equity. The Company has experienced a high
level of investment activity since the start of the financial year,
completing thirteen investments totaling over GBP100 million during
the period. The funds raised from shareholders will allow the
Company to substantially pay down its existing corporate facility
and will enable it to continue to take advantage of a strong
pipeline of long-term investment opportunities."
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Nick Westlake/Hugh Jonathan +44 (0)20 7260 1345/1263
Numis Securities
Ed Gascoigne-Pees/Ed Berry +44 (0)20 7269 7132/7297 Financial
Dynamics
Notes to Editors:
About International Public Partnerships (INPP):
International Public Partnerships Limited (INPP) is a listed
infrastructure investment company which invests in global public
infrastructure projects developed under the public private
partnerships (PPP) and private finance initiative (PFI) procurement
methods.
Listed in 2006, INPP is a long-term investor in 109 social and
transport infrastructure projects, including schools, hospitals,
courts, police headquarters and transport projects in the U.K.,
Europe, Australia and Canada. INPP seeks to provide its
shareholders with both a long-term government-backed yield and
capital growth through investment across both construction and
operational phases of 25-40 year concessions.
Amber Infrastructure Group (Amber) is the Investment Advisor to
INPP and consists of more than 50 dedicated infrastructure
specialists which originate and source a strong pipeline of
projects for INPP.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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