International Public Partnership Ld Allotment of Scrip Dividend Shares (9198Q)
October 21 2013 - 2:00AM
UK Regulatory
TIDMINPP
RNS Number : 9198Q
International Public Partnership Ld
21 October 2013
21 October 2013
INTERNATIONAL PUBLIC PARTNERSHIPS LIMITED
ALLOTMENT OF SCRIP DIVIDEND SHARES
The Board of International Public Partnerships Limited ('INPP'
or the 'Company') wish to confirm the following in respect of the
scrip dividend:
Dividend period: 1 January 2013 - 30 June
2013
==================================== =========================
Dividend amount per share: 3.075 pence
==================================== =========================
Scrip dividend price per share: 126.28 pence
==================================== =========================
Payment date/Allotment of scrip: 23 October 2013
==================================== =========================
Number of new shares to be issued: 2,609,600
==================================== =========================
In March 2013 the Board of Directors provided indicative
guidance for the target 2013 distribution of 6.15 pence per share
which, if achieved, would be a 2.5% increase on the 2012
distribution and the sixth consecutive year INPP has increased
distributions at or above the 2.5% growth target indicated at the
time of INPP's IPO in 2006. The Board today reconfirms this
guidance. Assuming the target distribution is met, the remaining
instalment of 3.075 pence per share is expected to be paid for the
period 1 July 2013-31 December 2013 in May/June 2014.
The Company also confirms that as advised in the Shareholder
Circular dated 28 August 2013 60% of the incentive fee payable to
the Investment Advisor for the period ended 30 June 2013 is being
paid in shares. As such it intends to issue 5,011,159* shares to
the Investment Advisor, Amber Fund Management Limited. The number
of shares to be issued has been based on an issue price of 131.39
pence per share in accordance with methodology set out in the
Investment Advisory Agreement in force during that period. They
will be admitted to trading on 23 October 2013. Following the
allotment, the Investment Advisor will hold 1.1% of the issued
share capital. The total number of shares in issue will be
760,641,615.
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. The
times and dates in this announcement are expected times and dates
only and are subject to change. Any such changes will be notified
to shareholders through a regulatory information service.
*In the Shareholder Circular dated 28 August it was advised that
5,023,711 Shares would be issued to the Investment Advisor. The
smaller number actually to be issued follows the finalisation of
the weighted average share price used in the calculation of the
number of shares to be issued.
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 Berry/Jack Hickey +44(0)2072697297/7196
FTI Consulting
About International Public Partnerships (INPP):
International Public Partnerships (INPP) is a listed
infrastructure investment company which invests in global public
infrastructure projects developed under the public private
partnerships (PPP), private finance initiative (PFI), regulated
asset and other similar procurement methods.
Listed in 2006, INPP is a long-term investor in 122 social and
transport infrastructure projects, including schools, hospitals,
courts, police headquarters, transport and utility and transmission
projects in the U.K., Europe, Australia and Canada. INPP seeks to
provide its shareholders with both a long-term yield and capital
growth through investment across both construction and operational
phases of 25-40 year concessions.
Amber Fund Management Limited is the Investment Advisor to INPP
and consists of more than 70 dedicated staff who manage, advise on
and originate projects for INPP.
Visit the INPP website at
www.internationalpublicpartnerships.com for more information.
Disclaimer
Nothing in this press release is intended as an offer to sell or
a solicitation of an offer to buy any securities. An investment in
International Public Partnerships Limited (the "Company") carries
certain risks and past performance cannot be relied on as a guide
to future performance.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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