Issue of Equity

RNS Number : 1016O

International Public Partnership Ld

13 September 2011

 



13 September 2011

international public partnerships limited

Issue of Equity

ISSUE OF EQUITY

International Public Partnerships Limited ("INPP" or "the Company") is pleased to announce that 46,428,447 new ordinary shares of 0.01p each were issued for cash on an ex-dividend basis at 112.075 pence per share (the "Issue Price"). A dividend of 2.925 pence is to be paid on 28 October 2011.

The Issue Price represents a premium of 1.3 per cent to the equivalent ex-dividend net asset value of 110.68 pence per ordinary share as at 30 June 2011, being the last net asset value published prior to this announcement.

As a result of the issue of equity set out above, the Company's issued share capital now consists of 530,712,917 ordinary shares.  The Company has currently fully utilised its ability to issue shares without the publication of a prospectus.

The proceeds will be used to partially pay down the existing £100 million corporate facility which is currently £60 million drawn.

Application will be made to the UK Listing Authority and to the London Stock Exchange plc for the new ordinary shares to be admitted to the Official List maintained by the UK Listing Authority, and to be admitted to trading by the London Stock Exchange plc on its market for listed securities. It is expected that such admissions will become effective at 8 a.m. on 19 September 2011.

Keith Dorrian, Chairman, International Public Partnerships Limited, said:

"The Board is pleased to announce the issuance of approximately £52 million of new equity.  The Company has experienced a high level of investment activity since the start of the financial year, completing thirteen investments totaling over £100 million during the period.  The funds raised from shareholders will allow the Company to substantially pay down its existing corporate facility and will enable it to continue to take advantage of a strong pipeline of long-term investment opportunities."

For further information:

Erica Sibree                                                     [phone]

Amber Fund Management Limited                                

Nick Westlake/Hugh Jonathan                            [phone]/1263

Numis Securities       

Ed Gascoigne-Pees/Ed Berry                              [phone]/7297
Financial Dynamics

Notes to Editors:

About International Public Partnerships (INPP):

International Public Partnerships Limited (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP) and private finance initiative (PFI) procurement methods.

Listed in 2006, INPP is a long-term investor in 109 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters and transport projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term government-backed yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.

Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and consists of more than 50 dedicated infrastructure specialists which originate and source a strong pipeline of projects for INPP.

 

END

 

 

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