Allotment of Scrip Dividend Shares

RNS Number : 9198Q

International Public Partnership Ld

21 October 2013

 



21 October 2013

INTERNATIONAL PUBLIC PARTNERSHIPS LIMITED

ALLOTMENT OF SCRIP DIVIDEND SHARES

The Board of International Public Partnerships Limited ('INPP' or the 'Company') wish to confirm the following in respect of the scrip dividend:

Dividend period:	1 January 2013 - 30 June 2013
Dividend amount per share:	3.075 pence
Scrip dividend price per share:	126.28 pence
Payment date/Allotment of scrip:	23 October 2013
Number of new shares to be issued:	2,609,600

In March 2013 the Board of Directors provided indicative guidance for the target 2013 distribution of 6.15 pence per share which, if achieved, would be a 2.5% increase on the 2012 distribution and the sixth consecutive year INPP has increased distributions at or above the 2.5% growth target indicated at the time of INPP's IPO in 2006. The Board today reconfirms this guidance. Assuming the target distribution is met, the remaining instalment of 3.075 pence per share is expected to be paid for the period 1 July 2013-31 December 2013 in May/June 2014.

The Company also confirms that as advised in the Shareholder Circular dated 28 August 2013 60% of the incentive fee payable to the Investment Advisor for the period ended 30 June 2013 is being paid in shares.  As such it intends to issue 5,011,159* shares to the Investment Advisor, Amber Fund Management Limited.  The number of shares to be issued has been based on an issue price of 131.39 pence per share in accordance with methodology set out in the Investment Advisory Agreement in force during that period. They will be admitted to trading on 23 October 2013. Following the allotment, the Investment Advisor will hold 1.1% of the issued share capital. The total number of shares in issue will be 760,641,615.

Note: The above distribution guidance is a target only and not a profit forecast. There can be no assurance that this target will be met or that the Company will make any distributions whatsoever.  The times and dates in this announcement are expected times and dates only and are subject to change.  Any such changes will be notified to shareholders through a regulatory information service.

*In the Shareholder Circular dated 28 August it was advised that 5,023,711 Shares would be issued to the Investment Advisor.  The smaller number actually to be issued follows the finalisation of the weighted average share price used in the calculation of the number of shares to be issued.

For further information:

Erica Sibree                                                                          [phone]

Amber Fund Management Limited                                                  

Nick Westlake/Hugh Jonathan                                         [phone]/1263

Numis Securities

Ed Berry/Jack Hickey                                                           [phone]/7196
FTI Consulting

About International Public Partnerships (INPP):

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 70 dedicated staff who manage, advise on and originate projects for INPP.

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

Disclaimer

Nothing in this press release is intended as an offer to sell or a solicitation of an offer to buy any securities. An investment in International Public Partnerships Limited (the "Company") carries certain risks and past performance cannot be relied on as a guide to future performance.

 

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