Issue of Equity

RNS Number : 4765Y

International Public Partnership Ld

06 December 2017

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME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.

6 December 2017

Issue of Equity

Further to the announcement of 29 November 2017, 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 £80 million before costs and expenses through the issue of 53,333,334 ordinary shares of 0.01p in the capital of the Company (the "New Ordinary Shares") by way of tap issuance (the "Issue").

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

The New Ordinary Shares will be issued at 150 pence per share, which represents a discount of 3.2% to the closing price prior to the fund raising announcement on 29 November 2017.

Commenting on the Issue, Chairman of INPP Rupert Dorey said: "We are delighted to announce that the Company has raised £80 million through a placement today, with strong support from a wide variety of investors. The net proceeds of the issue will be used to reduce the drawn element of the Company's debt facility and position the Company to bid for new opportunities."

Application for listing and admission to trading

Application has been made for the New Ordinary 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 Ordinary Shares will commence at 8.00 a.m. on 8 December 2017.

Notification of Transaction by Persons Discharging Managerial Responsibilities (PDMRs) and Persons Closely Associated (PCAs)

The Board announces that the following Directors have participated in the issue and will acquire the following shares:

·      Giles Frost, a Director of the Company and of Amber Infrastructure Limited, 50,000 New Ordinary Shares through a personal investment vehicle of which Mr Frost is a beneficiary.

·      Rosemary Dorey (PCA of Rupert Dorey, Chairman of the Company), 200,000 New Ordinary Shares.

·     John Le Poidevin, a Director of the Company, 33,333 New Ordinary Shares.

For further information:

Erica Sibree                                                                                                        

Amber Fund Management Limited                                                          

[phone]

Hugh Jonathan

Numis Securities Limited          

[phone]

IMPORTANT NOTICES

This Announcement has been issued by and is the sole responsibility of the Company.

About International Public Partnerships:

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

Listed in 2006, INPP is a long-term investor in 127 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the UK, Europe, Australia and North America. INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases typically of 25-40 year concessions.

Amber Infrastructure Group ('Amber') is the Investment Advisor to INPP and has around 100 dedicated staff who manage, advise on and originate projects for INPP.

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

About Amber Infrastructure Group:

Amber is a leading international infrastructure specialist, providing asset management and investment advisory services in respect of around £8 billion of assets in the UK, Europe, Australia and North America. Amber's core business focuses on sourcing, developing, advising on, investing in and managing infrastructure assets within the utilities, PPP, transport, renewable energy and regeneration sectors.

Amber provides investment advisory services to International Public Partnerships
Limited as well as private investment funds, specialising in urban regeneration. Amber is headquartered in London with offices in Munich, Sydney, Melbourne and San Francisco and employs over 100 people, making it one of the largest international infrastructure specialists.

 

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