Update on proposed acquisition of wireless network

RNS Number : 1948C

Digital 9 Infrastructure PLC

18 February 2022

 

18 February 2022

DIGITAL 9 INFRASTRUCTURE PLC

("D9", the "Company" or, together with its subsidiaries, the "Group")

Update on proposed acquisition of Irish wireless communications network

On 13 January 2022, the Company announced that its wholly owned subsidiary, Digital 9 Wireless Limited, had signed a conditional sale and purchase agreement ("SPA") to acquire a majority stake in Tetra Ireland Communications Limited ("TETRA Ireland").

The SPA included a condition in respect of a right of pre-emption in favour of the other existing minority shareholders. The Investment Manager has now received formal notification that one of the other shareholders has confirmed its intention to exercise its pre-emption right over the majority stake and, as a result, the SPA has been terminated.

The existing shareholder pre-emption does signal the Company's strong commitment to price discipline as well as its focus on delivering long-term shareholder value.

The Investment Manager remains focused on converting the near-term pipeline of approximately £450 million, part of a total pipeline of approximately £1.8 billion across multiple sectors and geographies.

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT

Triple Point Investment Management LLP   (Investment Manager)   Thor Johnsen   Andre Karihaloo	[phone]
J.P. Morgan Cazenove (Corporate Broker)   William Simmonds   Jérémie Birnbaum	[phone]
Akur Capital (Financial Adviser)   Tom Frost   Siobhan Sergeant	[phone]
Sapience Communications   Richard Morgan Evans / Sasha Johnson	[phone] / [phone] [e-mail]

LEI: 213800OQLX64UNS38U92

NOTES:

Digital 9 Infrastructure plc is an investment trust which invests in a range of digital infrastructure assets which help to deliver, inter alia, a reliable, functioning internet.

The Company's portfolio will comprise scalable platforms and technologies including (but not limited to) subsea fibre, data centres, terrestrial fibre, tower infrastructure and small cell networks (including 5G).

With its IPO in March 2021, to date, D9 has raised total equity of £845.2 million, investing (or committing to invest) the net proceeds into data centres and fibre networks.

The Investment Manager is Triple Point Investment Management LLP ("Triple Point") which is authorised and regulated by the Financial Conduct Authority, with extensive experience in asset and project finance, portfolio management and structured investments. The Investment Manager's digital infrastructure team has a proven track record of over US$3 billion of infrastructure investments and, in addition, benefits from a panel of digital infrastructure industry experts with deep knowledge, relationships and involvement in a combined US$250 billion of digital infrastructure transactions.

The Company is focused on the provision of Digital Infrastructure integrated with green and cleaner power in line with UN Sustainable Development Goal 9: "Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation".

The Company's Ordinary Shares were admitted to trading on the Main Market of the London Stock Exchange on 31 March 2021.

For more information, please visit  www.d9infrastructure.com .

 

END

 

 

FUREAXAPFLEAEFA