Re-admission, Board Changes & Total Voting Rights

RNS Number : 2016C

Infrastructure India plc

03 March 2011

 



Date:	3 March 2011
On behalf of:	Infrastructure India plc ("Infrastructure India" or the "Company" or, together with its subsidiaries,  the "Group")
Embargoed until:	0800hrs

Infrastructure India plc

Re-admission to trading on AIM

Board Changes

Total Voting Rights

Infrastructure India, an investment company focused on Indian infrastructure assets, is pleased to announce that, following approval of the resolutions put to shareholders at yesterday's EGM, the enlarged issued share capital of the Company has been readmitted to trading on AIM this morning.

The Company has acquired from Guggenheim Global Infrastructure Company Limited ("GGIC"), which owns and operates energy and transportation infrastructure investments in high growth markets, a 50 per cent. interest in India Hydropower Development Company, LLC ("IHDC"), which has a diversified range of income producing and in-development hydroelectric power assets, and a 37.39 per cent. interest in Vikram Logistic & Maritime Services Private Limited ("VLMS"), a company which has developed and operates transportation and container processing infrastructure in India ("GGIC Assets").

The Company intends to acquire a further approximate 62.60 per cent. interest in VLMS from Anuradha Holdings Private Limited, subject to, inter alia, obtaining certain Indian regulatory approvals.  Further updates on this acquisition will be notified in due course.   

New Board

Following completion of the acquisition of the GGIC Assets, the following changes have been made to the Board of Infrastructure India with immediate effect. Tom Tribone joins as Chairman, Rupert Cottrell becomes Deputy Chairman, Sonny Lulla joins as Chief Executive, Rob Venerus and Tim Stocks join as Non-Executive Directors.  Timothy Walker remains on the Board as a Non-Executive Director.  Philip Scales has stepped down as a Non-Executive Director but has been appointed as Company Secretary.       

Appointment of Asset Manager and Valuation and Portfolio Services Adviser

Guggenheim Franklin Park Management, LLC ("GFPM"), a wholly owned subsidiary of GGIC, has been appointed as Asset Manager to the Group and Akur Partners LLP ("Akur") has been appointed as the Valuation and Portfolio Services Adviser to the Group, as well as continuing to act as the Company's Financial Adviser.

Commenting, Rupert Cottrell, Deputy Chairman, said:

"The acquisition of these assets, together with the invaluable global support of Guggenheim, represents a significant step for the Company.  We look forward to working with the GFPM team, together with our existing advisers, to continue to drive the Group forward and build value for all our shareholders."

Commenting, Sonny Lulla, newly appointed Chief Executive of Infrastructure India, said:

"Tom, Rob, Tim and I are very pleased to be joining the Board of Infrastructure India. The Company has interests in a diversified portfolio of assets with exciting future prospects.  In addition, the recent fundraising, in which GGIC also participated, puts the Company in a strong position in the market to make the most of the extensive opportunities available to it.  We look forward to the future with confidence."

Total voting rights

Following the issue of 56,263,372 Ordinary Shares pursuant to the acquisition of the GGIC Assets and the issue of 12,396,693 Ordinary Shares to GGIC pursuant to the Placing announced on 11 February 2011, the Company's capital currently comprises 150,597,984 Ordinary Shares and 7,340,000 Warrants.

The total number of voting rights in the Company is 150,597,984.  The voting rights on all these shares are identical.   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.

Capitalised terms used in this announcement will have the same meaning as in the admission document dated 11 February 2011 unless the context requires otherwise.

-Ends-

Enquiries:

Infrastructure India plc	www.iiplc.com
Rupert Cottrell / Sonny Lulla	Via Redleaf Polhill
Guggenheim Franklin Park Management, LLC	[phone]
Asset Manager
Jeffrey Kelley/Sonny Lulla
Akur Partners LLP	[phone]
Financial Adviser to IIP Valuation and Portfolio Services Adviser
Andrew Dawber / Anthony Richardson / Tom Frost
Smith & Williamson Corporate Finance Limited	[phone]
Nominated Adviser & Joint Broker
Azhic Basirov / Siobhan Sergeant
Westhouse Securities Limited	[phone]
Joint Broker
Alastair Moreton / Hannah Pearce
Fairfax I.S. PLC	[phone]
Financial Adviser to GGIC
Simon Stevens
Redleaf Polhill	[phone]
Financial PR Adviser to IIP	[e-mail]
Emma Kane / Henry Columbine / Samantha Robbins

Notes to Editors

About GGIC

GGIC is a subsidiary of Guggenheim Franklin Park Investments, L.P. and its general partner, Guggenheim Franklin Park Investments LLC, began operating in 2005 by Guggenheim Partners LP ("Guggenheim") and three former leaders of The AES Corporation ("AES"), a New York Stock Exchange listed global power company. Guggenheim is a privately held, global financial services firm with more than US$100 billion in assets under supervision. Guggenheim, together with its affiliates, provides investment management, investment and wealth advisory, insurance, investment banking and capital markets services for an array of clients, with 24 offices in eight countries around the world.

 

END

 

 

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