Issue of Equity

RNS Number : 2826V

International Public Partnership Ld

10 January 2013

 



THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR TO U.S. PERSONS. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION.

10 January 2013

Issue of equity

Further to its announcement yesterday, the Board of International Public Partnerships Limited (the "Company" and/or "INPP") is pleased to announce that the Company has raised £40 million before costs through the issue for cash, subject to listing, of 32,258,065 ordinary shares of 0.01 pence each (the "New Shares") in the Company (the "Issue").  The issue price per New Share was 124.0 pence. The Issue was oversubscribed.

As a result of the Issue, the Company's issued share capital will consist of 743,839,963 ordinary shares.

Application has been made for the New Shares to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange. It is expected that dealings in the New Shares will commence at 8.00 a.m. on Tuesday 15 January 2013.

Following the issue of the New Shares, the Company has authority remaining to issue a further 21,380,269 new ordinary shares by way of tap issuance. Any further issue of shares on a non-pre-emptive basis (other than shares issued pursuant to the Company's scrip dividend scheme) will be carried out when the Board deem appropriate.

Commenting on the Issue, Chairman of INPP Keith Dorrian said: "We are delighted to announce that INPP has raised £40 million through a placement today, the Issue was oversubscribed and at the top end of our range.  There was strong demand from both existing and new investors, demonstrating continuing support for INPP and confidence in the return profile of infrastructure as an asset class."

For further information:

Erica Sibree                                                           [phone]

Amber Fund Management Limited

Nick Westlake / Hugh Jonathan                                [phone]/1263

Numis Securities Limited

Ed Berry/Harry Stein                                               [phone]/7141

FTI Consulting

About International Public Partnerships:

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

Listed in 2006, INPP is a long-term investor in 122 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.

Amber Fund Management Limited is the Investment Advisor to INPP and consists of more than 80 dedicated staff who manage, advise on and originate projects for INPP.

Visit the INPP website at www.internationalpublicpartnerships.com for more information.

 

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