Issue of Equity and Director/PDMR Shareholding

RNS Number : 2147W

Infrastructure India plc

15 April 2019

 

15 April 2019

Infrastructure India plc

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

Management Agreement Fee Shares

Director/PDMR Shareholding

Infrastructure India plc, an AIM quoted infrastructure fund investing directly into assets in India, announced the terms of a revised and restated management and valuation and portfolio services agreement (the "Management Agreement") with the Company's existing asset manager, Franklin Park Management, LLC (the "Asset Manager") on 15 September 2016. Pursuant to the Management Agreement, the Asset Manager is to be issued with 605,716 new ordinary shares in the Company on 1 July each calendar year for the duration of the Management Agreement ("Annual Fee Shares").

The Company announces that it has today issued a total of 1,211,432 new ordinary shares in the Company to the Asset Manager (the "New Ordinary Shares"), being Annual Fee Shares which were due for issue by the Company to the Asset Manager on 1 July 2017 and 1 July 2018 and which have been pending issuance since those dates, as disclosed in the Company's annual and interim financial reports. A further 605,716 Annual Fee Shares are to be issued to the Asset Manager on 1 July 2019.

Following the issue of the New Ordinary Shares, the Asset Manager is now interested in a total of 1,211,432 ordinary shares in the Company, representing 0.18% of the Company's enlarged issued share capital, as enlarged by the issue of the New Ordinary Shares.

Tom Tribone, Sonny Lulla and Rob Venerus, each directors of the Company, collectively own the entire issued share capital of the Asset Manager.

Application has been made for the New Ordinary Shares, which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence on AIM on 23 April 2019.

From Admission, the Company will have 681,478,473 ordinary shares in issue with no ordinary shares held in treasury. This is the total number of voting rights in IIP and may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further details.

Enquiries:

Infrastructure India plc        Sonny Lulla	www.iiplc.com
Cenkos Securities plc Nominated Adviser & Joint Broker Azhic Basirov / Ben Jeynes	[phone]
Nplus1 Singer Advisory LLP Joint Broker James Maxwell - Corporate Finance James Waterlow - Investment Fund Sales	[phone]
Novella	[phone]
Financial PR
Tim Robertson / Toby Andrews

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Thomas Anthony Tribone
2	Reason for the notification
a)	Position/status	PDMR (Director) - notification concerns the grant of new ordinary shares to an entity in which the PDMR is beneficially interested
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Infrastructure India plc
b)	LEI	213800M623GQQAG11656
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 1p each
	Identification code	IM00B2QVWM67
b)	Nature of the transaction	Grant of new ordinary shares to an entity in which the PDMR is beneficially interested
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.00	1,211,432
d)	Aggregated information
	Aggregated volume	N/A - single transaction
	Price	N/A - single transaction
e)	Date of the transaction	15 April 2019
f)	Place of the transaction	Outside of a trading venue

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Rahul (Sonny) Lulla
2	Reason for the notification
a)	Position/status	PDMR (Director) - notification concerns the grant of new ordinary shares to an entity in which the PDMR is beneficially interested
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Infrastructure India plc
b)	LEI	213800M623GQQAG11656
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 1p each
	Identification code	IM00B2QVWM67
b)	Nature of the transaction	Grant of new ordinary shares to an entity in which the PDMR is beneficially interested
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.00	1,211,432
d)	Aggregated information
	Aggregated volume	N/A - single transaction
	Price	N/A - single transaction
e)	Date of the transaction	15 April 2019
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robert Venerus
2	Reason for the notification
a)	Position/status	PDMR (Director) - notification concerns the grant of new ordinary shares to an entity in which the PDMR is beneficially interested
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Infrastructure India plc
b)	LEI	213800M623GQQAG11656
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 1p each
	Identification code	IM00B2QVWM67
b)	Nature of the transaction	Grant of new ordinary shares to an entity in which the PDMR is 24.5% beneficially interested
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.00	1,211,432
d)	Aggregated information
	Aggregated volume	N/A - single transaction
	Price	N/A - single transaction
e)	Date of the transaction	15 April 2019
f)	Place of the transaction	Outside of a trading venue

 

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