Issue of Equity

RNS Number : 1230E

International Public Partnership Ld

14 July 2016

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA, ANY JURISDICTION OF THE EEA OTHER THAN THE UK OR IRELAND, 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. 

International Public Partnerships Issue of Equity

14 July 2016

Issue of Equity

Further to the announcement of 5 July 2016, the Board of Directors (the "Board") of International Public Partnerships Limited (the "Company" and/or "INPP") is pleased to announce the placing has closed, raising £125 million before costs and expenses through the issue of 83,612,040 ordinary shares of 0.01p in the capital of the Company (the "New Ordinary Shares") (the "Issue").

The placing was oversubscribed with demand from existing and new investors.

The New Ordinary Shares will be issued at 1.495pence per share, which represents a discount of 1.97% to the closing price prior to the fund raising announcement on 5 July 2016.

Chairman of International Public Partnerships, Rupert Dorey said: "The oversubscription of our latest fundraising demonstrates the continued attractiveness of the Company's investment case. Our enhanced corporate debt facility has again allowed us to be agile and competitive in originating and acquiring infrastructure assets core to our portfolio. Today's close is another sign of confidence in the Company's pipeline and we look forward to deploying the net proceeds to help deliver predictable, low-risk and long-term returns to our shareholders."

Application for listing and admission to trading

Application will be made to the Financial Conduct Authority for admission of the New Ordinary Shares to the premium segment of the Official List of the FCA and to the London Stock Exchange plc for admission to trading of the New Ordinary Shares on its main market for listed securities (together, "Admission"). It is expected that Admission will become effective on or around 18 July 2016 and that dealings in the New Ordinary Shares on the London Stock Exchange's main market for listed securities will commence at that time.

For further information:

Erica Sibree                                                    [phone]

Amber Fund Management Limited                                

Chris Gook (Sales)                                           [phone]

Hugh Jonathan / Nick Westlake (Corporate)        [phone]/1345

Numis Securities

Ed Berry/Mitch Barltrop                                     [phone]/1039

FTI Consulting

IMPORTANT NOTICES

This announcement does not constitute a prospectus relating to the Company and does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in the Company in any jurisdiction nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with or act as any inducement to enter into, any contract therefor.

Numis, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting for INPP and is acting for no-one else in connection with the Issue and will not be responsible to anyone other than INPP for providing the protections afforded to its clients nor for providing advice in relation to the proposed issue or any other matter referred to herein. To the fullest extent permitted by law recipients agree that Numis shall not have any liability (direct or indirect) for or in connection with this Announcement or any matters arising out of or in connection herewith. Numis has not authorised the contents of, or any part of, this document.

No representation or warranty express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Numis or by any of its respective affiliates or agents as to or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

Neither this Announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.

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 or South Africa, any EEA jurisdiction other than the UK or Ireland, or any jurisdiction in which the same would be unlawful.

The New Ordinary Shares have not been, or will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any State or other jurisdiction of the United States, and accordingly may not be offered, sold or transferred within the United States except pursuant to an exemption from, or in a transaction not subject to, registration under the Securities Act. No offering of the New Ordinary Shares is being made in the United States or to U.S. persons as defined in and in accordance with Regulation S under the Securities Act ("U.S. Persons"). The Company has not been and will not be registered under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act") and investors will not be entitled to the benefits of that Act.

 

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