TIDMINPP
RNS Number : 8539C
International Public Partnership Ld
08 May 2012
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH
AFRICA, OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR
TO U.S. PERSONS. THE INFORMATION CONTAINED HEREIN DOES NOT
CONSTITUTE AN OFFER OF SECURITIES FOR SALE INCLUDING IN THE UNITED
STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA.
This Announcement is for information purposes only and does not
constitute an invitation to subscribe for or otherwise acquire or
dispose of securities in the Company (defined below) in any
jurisdiction. The information contained in this Announcement is for
background purposes, is subject to updating and amendment, and does
not purport to be full or complete. No reliance may be placed for
any purpose on the information contained in this Announcement or
its accuracy or completeness. This Announcement does not constitute
or form part of any offer to issue or sell, or any solicitation of
any offer to subscribe or purchase, any investments nor shall it
(or the fact of its distribution) form the basis of, or be relied
on in connection with, any contract or commitment whatsoever. Any
decision to purchase shares should be made solely on the basis of
the information contained in the final prospectus issued by the
Company.
8 May 2012
Placing, Open Offer and Offer for Subscription
The Board of International Public Partnerships Limited ("INPP"
or the "Company") is pleased to announce that it expects to proceed
with a Placing, Open Offer and Offer for Subscription (the "Issue")
of new ordinary shares during the second quarter of this year.
The Company noted in its annual results published on 19 April
2012, that approximately GBP170 million of investment, representing
three current opportunities in respect of which it has exclusivity,
have progressed to an advanced stage. In addition, the Company has
a strong pipeline of other longer term opportunities. The proceeds
of the fundraising, which is expected to have a target size of
GBP180 million, are expected to be used to pay down the Company's
corporate revolving debt facility and fund the acquisition of the
assets in respect of which it has exclusivity, leaving the Company
with the ability, through the revolving debt facility, to purchase
additional accretive assets in the medium term.
It is envisaged that a prospectus will be published in May with
trading in the new shares commencing after the Company's AGM in
June. Further details as to the precise timing and size of the
Issue will be announced in due course.
For further information, please contact
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Hugh Jonathan/Nick Westlake +44 (0)20 7260 1263/1345
Numis Securities, Broker, Financial Adviser, Sponsor and Joint
Bookrunner
Adam Welham +44 (0)20 7623 2323
Barclays, Joint Bookrunner
Ed Berry/Harry Stein +44 (0)20 7269 7297/7141
FTI Consulting
IMPORTANT NOTICES
The potential acquisition by the Company of any of the
investments referred to in this Announcement is subject, among
other things, to those projects reaching legal completion and to
the Company having conducted satisfactory due diligence in relation
to such investments. Although the Company has a right of first
refusal for investments disposed of by the Amber group, any
acquisitions will be subject to agreement having been reached
between the Company and the relevant counterparty as to the terms
of the acquisitions. In addition, some of the investment
opportunities are those where [Amber or the Company] is currently
undergoing a bidding process. There is no guarantee that they will
be successful in any such bidding process. There is therefore no
guarantee that any of the investments will be acquired and if they
are on what terms.
This Announcement has been issued by and is the sole
responsibility of the Company. No representation or warranty,
express or implied, is or will be made to, or in relation to, and
no responsibility or liability is or will be accepted by Numis or
Barclays Bank PLC, acting through its investment bank ("Barclays")
or by any of their respective affiliates or agents as to or in
relation to, the accuracy or completeness of this Announcement or
any other written or oral information made available to or publicly
available to any interested party or its advisers, and any
liability therefore is expressly disclaimed.
Numis and Barclays, both of which are authorised and regulated
by the Financial Services Authority, are acting for the Company in
connection with the Issue and no-one else and will not be
responsible to anyone other than the Company for providing the
protections afforded to clients of each of them nor for providing
advice in relation to the Issue, the contents of this Announcement
or any other matter referred to herein.
Ordinary Shares to be issued pursuant to the Issue have not
been, and will not be, registered under the U.S. Securities Act of
1933, as amended (the "Securities Act") or under the applicable
state securities laws of the United States, and accordingly,
subject to certain exceptions, may not be offered or sold directly
or indirectly in or into the United States, or to or for the
benefit of any U.S. person (within the meaning of Regulation S
under the Securities Act). In addition, the Company has not been
and will not be registered under the United States Investment
Company Act of 1940, as amended.
The distribution of this Announcement and the placing, open
offer and offer for subscription of Ordinary Shares in certain
jurisdictions may be restricted by law. No action has been taken by
the Company, Numis or Barclays that would permit an offering of any
Ordinary Shares or possession or distribution of this Announcement
or any other offering or publicity material relating to such
Ordinary Shares in any jurisdiction where action for that purpose
is required. Persons into whose possession this Announcement comes
are required by the Company, Numis and Barclays to inform
themselves about, and to observe, such restrictions.
Certain statements in this Announcement are forward-looking
statements which are based on the Company's expectations,
intentions and projections regarding its future performance,
anticipated events or trends and other matters that are not
historical facts. These statements are not guarantees of future
performance and are subject to known and unknown risks,
uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. Given these risks and uncertainties,
prospective investors are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements speak only
as of the date of such statements and, except as required by
applicable law, the Company undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.
The information contained in this Announcement is subject to
change without notice and neither the Company nor Numis nor
Barclays assume any responsibility or obligation to update publicly
or review any of the forward-looking statements contained
herein.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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