TIDMINPP
RNS Number : 4765Y
International Public Partnership Ld
06 December 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,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 IN ANY JURISDICTION.
6 December 2017
Issue of Equity
Further to the announcement of 29 November 2017, the Board of
Directors (the "Board") of International Public Partnerships
Limited (the "Company" and/or "INPP") is pleased to announce the
placing has closed, raising GBP80 million before costs and expenses
through the issue of 53,333,334 ordinary shares of 0.01p in the
capital of the Company (the "New Ordinary Shares") by way of tap
issuance (the "Issue").
The placing was oversubscribed with demand from existing and new
investors.
The New Ordinary Shares will be issued at 150 pence per share,
which represents a discount of 3.2% to the closing price prior to
the fund raising announcement on 29 November 2017.
Commenting on the Issue, Chairman of INPP Rupert Dorey said: "We
are delighted to announce that the Company has raised GBP80 million
through a placement today, with strong support from a wide variety
of investors. The net proceeds of the issue will be used to reduce
the drawn element of the Company's debt facility and position the
Company to bid for new opportunities."
Application for listing and admission to trading
Application has been made for the New Ordinary Shares to be
admitted to the premium segment of the Official List and to trading
on the Main Market of the London Stock Exchange. It is expected
that dealings in the New Ordinary Shares will commence at 8.00 a.m.
on 8 December 2017.
Notification of Transaction by Persons Discharging Managerial
Responsibilities (PDMRs) and Persons Closely Associated (PCAs)
The Board announces that the following Directors have
participated in the issue and will acquire the following
shares:
-- Giles Frost, a Director of the Company and of Amber
Infrastructure Limited, 50,000 New Ordinary Shares through a
personal investment vehicle of which Mr Frost is a beneficiary.
-- Rosemary Dorey (PCA of Rupert Dorey, Chairman of the Company), 200,000 New Ordinary Shares.
-- John Le Poidevin, a Director of the Company, 33,333 New Ordinary Shares.
For further information:
Erica Sibree
Amber Fund Management Limited
+44 (0)20 7939 0558
Hugh Jonathan
Numis Securities Limited
+44 (0)20 7260 1263
IMPORTANT NOTICES
This Announcement has been issued by and is the sole
responsibility of the Company.
About International Public Partnerships:
International Public Partnerships ('INPP') is a listed
infrastructure investment company which invests in global public
infrastructure projects developed under the private finance
initiative ('PFI'), regulated asset and other similar procurement
methods.
Listed in 2006, INPP is a long-term investor in 127 social and
transport infrastructure projects, including schools, hospitals,
courts, police headquarters, transport and utility and transmission
projects in the UK, Europe, Australia and North America. INPP seeks
to provide its shareholders with both a long-term yield and capital
growth through investment across both construction and operational
phases typically of 25-40 year concessions.
Amber Infrastructure Group ('Amber') is the Investment Advisor
to INPP and has around 100 dedicated staff who manage, advise on
and originate projects for INPP.
Visit the INPP website at
www.internationalpublicpartnerships.com for more information.
About Amber Infrastructure Group:
Amber is a leading international infrastructure specialist,
providing asset management and investment advisory services in
respect of around GBP8 billion of assets in the UK, Europe,
Australia and North America. Amber's core business focuses on
sourcing, developing, advising on, investing in and managing
infrastructure assets within the utilities, PPP, transport,
renewable energy and regeneration sectors.
Amber provides investment advisory services to International
Public Partnerships
Limited as well as private investment funds, specialising in
urban regeneration. Amber is headquartered in London with offices
in Munich, Sydney, Melbourne and San Francisco and employs over 100
people, making it one of the largest international infrastructure
specialists.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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