Notice of Results and Guidance

RNS Number : 8926J
Infrastructure India plc
16 December 2022
 

16 December 2022

 

 

Infrastructure India plc

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

 

Notice of Results and NAV Update

 

Infrastructure India plc, an AIM quoted infrastructure fund investing directly into assets in India, announces that it expects to publish its audited annual results for the 12 months ended 31 March 2022 ("Results"), in the latter half of December 2022. In accordance with AIM's temporary measures for publication of annual audited accounts, IIP was granted a three month extension to the deadline for publishing its Results, as announced on 14 September 2022.

 

The Board of IIP currently expect to report a net liability position for the year ended 31 March 2022. This was based on agreed preliminary terms with a third party and the ascribed net minimum consideration for IIP's largest holding, Distribution Logistics Infrastructure Limited ("DLI"). The proposed transaction is structured in two parts, with a deferred, performance-based, and contingent consideration, which does not contribute to the assigned DLI asset value and which the Directors expect to have a positive impact on net assets in due course. The Board will be making further announcements as and when appropriate.

 

The Board has been active in securing sources of financing to ensure the Group has adequate funding to continue to meet liabilities as they fall due and, as announced, this includes asset sales. As a result of this process, the Group has prepared the accounts on a basis other than going concern due to the uncertainty in relation to transaction timing, ultimate receipt of sale proceeds and the specifics of any deferred consideration. This basis was considered the most appropriate method for the reporting period and this was agreed with its auditors.

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

Enquiries:

 

Infrastructure India plc

Sonny Lulla 

 

 

 

www.iiplc.com

Via Novella

 


Strand Hanson Limited

Nominated Adviser

James Spinney / James Dance

 

+44 (0) 20 7409 3494

Singer Capital Markets

Broker

James Maxwell - Corporate Finance

James Waterlow - Investment Fund Sales

 

+44 (0) 20 7496 3000

Novella

Financial PR

Tim Robertson / Safia Colebrook

+44 (0) 20 3151 7008

 

 

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