Result of EGM

RNS Number : 5600U

Infrastructure India plc

18 October 2010

 

Date:	18 October 2010
On behalf of:	Infrastructure India plc
Immediate release

Infrastructure India plc

Result of Extraordinary General Meeting

Cancellation of Listing on Official List

Admission to Trading on AIM

The Board of Infrastructure India plc ("Infrastructure India" or the "Company"), the investment company focussed on Indian infrastructure assets, announces that, at the extraordinary general meeting held earlier today (the "EGM"), both the resolutions proposed were approved by 99.73% per cent. of shareholders voting and no votes were withheld.  Votes were received from shareholders representing 46.03% per cent. of the issued ordinary share capital of the Company.

As a result of the approval of Resolution 1, the Company will submit a request to the UK Listing Authority to delist its ordinary shares of 1p each ("Ordinary Shares") from the Official List and from trading on London Stock Exchange's main market for listed securities ("Delisting").  Further, the Company will apply for its Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange ("AIM") ("Admission").  As a consequence of the Delisting, the listing of the Warrants on the Official List will also be cancelled and the Warrants will be admitted to trading on AIM instead. 

As a result of the approval of Resolution 2, the Company's investment strategy will be amended slightly with effect from Admission to reflect the current focus on the Company's existing two investments.  The overall objective and investment strategy of the Company, however, will remain to seek out suitably attractive mid-sized infrastructure projects which are focussed on the Energy and Transport sectors. 

Details of the Delisting and Admission

Last day of dealings on the Official List	15 November 2010
Delisting to become effective	16 November 2010
Admission to become effective and dealings on AIM to commence	8.00 a.m. on 16 November 2010

Commenting on the Admission, Rupert Cottrell, Chairman of Infrastructure India, said:

"The Directors believe that the Group's two existing investments have the potential to provide shareholders with substantial value, particularly as the projects progress towards completion.  We will, however, continue to evaluate the prospects of these investments and any substantial further funding requirements for these projects as well as other prospective growth opportunities.  The move to AIM will provide the Company with greater flexibility in relation to future corporate activity to enable it to develop in line with our Shareholders' aspirations."

-ENDS-

Enquiries:

Infrastructure India plc	www.iiplc.com
Rupert Cottrell	Via Redleaf Communications
Akur Partners LLP	020 7499 3055
Andrew Dawber / Anthony Richardson / Tom Frost
Smith & Williamson	020 7131 4000
Azhic Basirov / Siobhan Sergeant
Redleaf Communications	020 7566 6727
Emma Kane / Henry Columbine	[e-mail]

 

END

 

 

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