Notice of Results

RNS Number : 0351K

Infrastructure India plc

10 December 2018

 

10 December 2018

Infrastructure India plc

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

Notice of Results

Infrastructure India plc, the infrastructure fund investing directly into assets in India, announces that it expects to publish its unaudited interim results for the six months ended 30 September 2018 on 14 December 2018.

As was noted in the Company's final results announcement released on 21 September 2018, funding constraints have overshadowed progress at IIP's largest asset, Distribution Logistics Infrastructure Limited ("DLI") and without sufficient completion capital, DLI has been unable to further progress construction at its terminals. DLI has, as a result, continued to focus on streamlining existing operations pending completion of the proposed $125m financing announced by the Company on 31 July 2018. Delays to completion schedules at DLI, and the associated changes to DLI business assumptions, together a weakening of the Indian Rupee (INR) against Sterling (GBP) at the end of the interim period (with a GBP:INR rate of 94.21 as at 30 September 2018 against 90.81 in March 2018 and 87.44 in September 2017) are expected to impact the unaudited net asset value of the Company as at 30 September 2018.

The board of IIP (the "Board") currently expects to announce an unaudited net asset value per ordinary share as at 30 September 2018 of approximately £0.21 (31 March 2018: £0.28; 30 September 2017: £0.35).

The Board looks forward to updating shareholders on IIP's performance during the six month period ended 30 September 2018 shortly.

Enquiries:

Infrastructure India plc        Sonny Lulla	www.iiplc.com
Smith & Williamson Corporate Finance Limited 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

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

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