Issue of Equity

RNS Number : 0885F

International Public Partnership Ld

24 October 2018

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE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

24 October 2018

Issue of Equity

Further to the announcement of 10 October 2018, 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 £116 million before costs and expenses through the issue of 76,065,574 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 significantly oversubscribed with strong demand from existing shareholders.  In light of this demand, the Board has increased the size of the placing from £75 million but capped it at £116 million. The proceeds will be used to repay £72.8 million cash drawn portion of the corporate debt facility which includes funding for the imminent c.£47 million investment into the Dudgeon OFTO.  The remainder will be deployed into the Company's strong pipeline of opportunities where the Company has existing committed near term future investment obligations of c.£200 million.

Rupert Dorey, Chairman of INPP, said: "The success of our capital raise further reinforces the conviction we and our existing investors have in the robustness of our portfolio. Our high-quality pipeline of harder-to-access opportunities combined with our active approach to asset management continues to support the generation of predictable, long-term and inflation-linked returns to our shareholders, as well as delivering value for money for all our stakeholders."

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 29 October 2018.

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:

·      Mike Gerrard, a Director of the Company, 55,739 New Ordinary Shares

·      John Le Poidevin, a Director of the Company, 32,550 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.

Listed in 2006, INPP is a long-term investor in 129 infrastructure projects and businesses, 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 Adviser to INPP and consists over 120 dedicated staff who manage, advise on and originate investments 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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