Asset Sale Update

RNS Number : 2422B

Infrastructure India plc

30 September 2022

 

30 September 2022

Infrastructure India plc

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

Asset sale update

Infrastructure India plc, an AIM quoted infrastructure fund investing directly into assets in India, announces that the purchaser of Indian Energy Limited ("IEL"), AVSR Constructions, has continued to experience administrative delays in finalising the transaction.

Further to the Company's announcements of 15 July 2022 and 12 September 2022, the Group now expects proceeds from the sale of IEL to be received during October 2022. The Company's creditors remain supportive, and it is expected the consideration due to the Company from the sale of IEL will be partially utilised towards settlement of such creditors. As previously announced, the Board remains in discussions with third parties regarding the sale of assets, including DLI, and further announcements will be made as and when appropriate.

The Board looks forward to providing shareholders with further updates, as appropriate, in due course.

- Ends -

Enquiries:

Infrastructure India plc Sonny Lulla	www.iiplc.com Via Novella
Strand Hanson Limited Nominated Adviser James Spinney / James Dance	[phone]
Singer Capital Markets Broker James Maxwell - Corporate Finance James Waterlow - Investment Fund Sales	[phone]
Novella Financial PR Tim Robertson / Safia Colebrook	[phone]

 

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