Result of IEL Meeting

RNS Number : 6667N

Infrastructure India plc

05 September 2011

 



Date:	5 September 2011
On behalf of:	Infrastructure India plc ("Infrastructure India" or the "Company")
Immediate release

Infrastructure India plc

Result of IEL Meetings

On 21 July 2011, the boards of Infrastructure India and Indian Energy Limited ("IEL") announced the recommended offer by the Company for all of the issued and to be issued share capital of IEL, to be implemented via a scheme of arrangement under Part VIII of the Companies (Guernsey) Law 2008, as amended ("Scheme").  A scheme document to implement the Scheme was circulated to IEL shareholders on 10 August 2011.

The board of Infrastructure India notes the announcement by IEL that the resolutions to implement the Scheme put to IEL shareholders at the Court Meeting and Extraordinary General Meeting, held earlier today, were duly passed.

The Scheme is now subject to the sanction of the Royal Court of Guernsey (the "Court").  The Court hearing to sanction the Scheme is expected to take place at 9:30am on 20 September 2011 and it is anticipated that the Scheme will become effective on 21 September 2011.

-Ends-

Enquiries:

Infrastructure India plc	www.iiplc.com
Sonny Lulla	Via Redleaf Polhill
Smith & Williamson Corporate Finance Limited	[phone]
Nominated Adviser & Joint Broker
Azhic Basirov / Siobhan Sergeant
Westhouse Securities Limited	[phone]
Joint Broker
Alastair Moreton / Hannah Young
Fairfax I.S. PLC	[phone]
Financial Adviser
Simon Stevens / James McCluskey
Redleaf Polhill	[phone]
Financial PR Adviser	[e-mail]
Samantha Robbins / Luis Mackness

DEALING DISCLOSURE REQUIREMENTS

Under Rule 8.3(a) of the Takeover Code (the "Code"), any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified.

An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30p.m. (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30p.m. (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30p.m. (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4). 

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified.  If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on [phone].

 

END

 

 

MSCUVONRAVAKRAR