C Share Conversion Ratio and

RNS Number : 4499F

HSBC Infrastructure Company Limited

13 January 2010

 



HSBC Infrastructure Company Limited

13 January 2010

C Share Conversion Ratio and Admission of New Ordinary Shares to Official List and trading on the London Stock Exchange

Further to its announcement dated 8 January 2010, HSBC Infrastructure Company Limited ("HICL" or the "Company") is pleased to announce the following information in relation to the conversion of its C Shares. 

Conversion Ratio for C Shares

The Net Asset Values attributable to the Ordinary Shares and the C Shares as at the Calculation Time, being 7 January 2010, were 109.3p per share and 98.2p per share respectively. The Conversion Ratio for conversion of the C Shares, as calculated in accordance with the Company's prospectus dated 12 November 2009 (the "Prospectus"), is 0.8982 Ordinary Shares for every one C Share held.

On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 898 New Shares upon Conversion.

Entitlements will be rounded down to the nearest whole share. Any fractional entitlements will be aggregated and sold in the market for the benefit of the Company.

The Ordinary Shares arising on Conversion will rank pari passu with, and will have the same rights as, the Ordinary Shares of the Company already in issue. 

Further details of the Conversion and rights attaching to the C Shares are set out in the Prospectus. Terms defined in the Prospectus have the same meaning in this announcement unless otherwise defined.

Admission to the Official List and to trading on the London Stock Exchange.

On the basis of the Conversion Ratio, application has been made to the UK Listing Authority for 71,856,000 New Shares to be admitted to the Official List. Application has also been made for the New Shares to be admitted to trading on the London Stock Exchange. It is expected that such admissions will become effective and that dealings in the New Shares will commence on 15 January 2010.

The C Shares will be permanently removed from trading on the London Stock Exchange with effect from the opening of trading at 8:00 a.m. on 15 January 2010.

Expected Timetable

The expected timetable for Conversion is as follows:

Record date for Conversion and C Share register closes	14 January 2010 (close of business)
Conversion Time and dealings in New Shares commence	15 January 2010
Crediting of CREST accounts with New Shares	15 January 2010
Share certificates in respect of New Shares despatched	Week commencing 18 January 2010

Voting Rights and Capital

Effective from 15 January 2010, the Company's share capital will consist of 446,335,924 Ordinary Shares with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.

For further information, please contact: 

HSBC Specialist Fund Management Limited Tony Roper Keith Pickard Sandra Lowe	[phone]
Collins Stewart Europe Limited David Yovichic Dominic Waters Robbie Robertson	[phone]
Oriel Securities Limited Tom Durie Gareth Price	[phone]
M: Communications                       Ed Orlebar James Hill	[phone]

The contents of this announcement have been prepared by and are the sole responsibility of HICL. Collins Stewart Europe Limited ("Collins Stewart") and Oriel Securities Limited ("Oriel Securities"), both of whom are regulated by the Financial Services Authority, are acting exclusively for HICL and no-one else and will not be responsible to anyone other than HICL for providing the protections afforded to the clients of Collins Stewart and Oriel Securities respectively, nor for affording advice in relation to the Issue, the contents of this announcement or any matter referred to herein.

 

END

 

 

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