Dividend and Pre Close Statement (7017U)
December 29 2011 - 2:00AM
UK Regulatory
TIDMINPP
RNS Number : 7017U
International Public Partnership Ld
29 December 2011
International Public Partnerships Limited
Dividend and Pre Close Statement
29(th) December 2011
Dividend
The Board of International Public Partnerships Limited ("INPP"
or the "Company") is pleased to provide indicative guidance on the
Company's target 2012/13 distribution which is a target of 6.0
pence per share. Assuming this target is achieved, this would
represent a 2.6% increase on the 2011 distribution, and would be
the fourth consecutive year the Company has increased distributions
above the 2.5% growth forecast indicated at the time of the
Company's IPO in 2006.
As per previous periods, the target distribution is expected to
be entirely funded through operating cash flow from the underlying
projects. Assuming the target distribution is met, it is expected
to be paid in two equal instalments of 3.0 pence per share for the
periods 1 January 2012-30 June 2012 and 1 July 2012-31 December
2012. The distribution is expected to go ex-dividend in August 2012
and March 2013 respectively.
The Board currently intends to continue to offer a scrip
dividend alternative to those investors who wish to receive
additional INPP securities in lieu of a cash payment.
Note: The above distribution guidance is a target only and not a
profit forecast. There can be no assurance that this target will be
met or that the Company will make any distributions whatsoever.
2012 Prospects and Future Capital Raising
The Board notes that 2011 was a very active year for INPP with
over GBP120m of new investments made during the year into
infrastructure assets meeting its investment criteria. The Board
looks forward to 2012 with confidence based on the continuing good
performance of its existing assets and the attractive pipeline of
new infrastructure opportunities under review by its Investment
Adviser both in the UK and overseas. The recent commitments to
infrastructure procurement made by the UK government support this
continuing strategy.
The Board continues to review the capital position of the
Company against its likely investment opportunities and believes
that if the opportunities currently under consideration come to
fruition, as anticipated, that it is likely to be beneficial to
seek additional capital from both shareholders and new investors by
way of an equity capital raise in 2012. Further announcements will
be made at the appropriate time once details are confirmed.
End
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 FTI Consulting
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 110 social and
transport infrastructure projects, including schools, hospitals,
courts, police headquarters, transport and renewable energy
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 60 dedicated infrastructure
specialists which originate and source a strong pipeline of
projects for INPP.
Visit the INPP website at
www.internationalpublicpartnerships.com for more information.
This statement has been prepared solely to provide additional
information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure and
Transparency Rules and should not be relied on by any other party
or for any other purpose.
Forward-looking statements are not guarantees of future
performance. The Company's actual investment performance, results
of operations, financial condition, liquidity, distribution policy
and the development of its financing strategies may differ
materially from the impression created by the forward-looking
statements contained in this document. Subject to their legal and
regulatory obligations, International Public Partnerships and its
Investment Advisor expressly disclaim any obligations to update or
revise any forward-looking statement contained herein to reflect
any change in expectations with regard thereto or any change in
events, conditions or circumstances on which any statement is
based.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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