International Public Partnership Ld Issue of Equity (0885F)
October 24 2018 - 11:04AM
UK Regulatory
TIDMINPP
RNS Number : 0885F
International Public Partnership Ld
24 October 2018
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,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.
24 October 2018
Issue of Equity
Further to the announcement of 10 October 2018, 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 GBP116 million before costs and
expenses through the issue of 76,065,574 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 significantly oversubscribed with strong demand
from existing shareholders. In light of this demand, the Board has
increased the size of the placing from GBP75 million but capped it
at GBP116 million. The proceeds will be used to repay GBP72.8
million cash drawn portion of the corporate debt facility which
includes funding for the imminent c.GBP47 million investment into
the Dudgeon OFTO. The remainder will be deployed into the Company's
strong pipeline of opportunities where the Company has existing
committed near term future investment obligations of c.GBP200
million.
Rupert Dorey, Chairman of INPP, said: "The success of our
capital raise further reinforces the conviction we and our existing
investors have in the robustness of our portfolio. Our high-quality
pipeline of harder-to-access opportunities combined with our active
approach to asset management continues to support the generation of
predictable, long-term and inflation-linked returns to our
shareholders, as well as delivering value for money for all our
stakeholders."
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 29 October 2018.
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:
-- Mike Gerrard, a Director of the Company, 55,739 New Ordinary Shares
-- John Le Poidevin, a Director of the Company, 32,550 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.
Listed in 2006, INPP is a long-term investor in 129
infrastructure projects and businesses, 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 Adviser
to INPP and consists over 120 dedicated staff who manage, advise on
and originate investments 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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