Issue of Equity

RNS Number : 0871W

International Public Partnerships

06 December 2019

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME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 2019

Issue of Equity

Further to the announcement of 5 December 2019, the Board of Directors (the "Board") of International Public Partnerships Limited (the "Company" or "INPP") is pleased to announce the placing has closed, raising £75.6 million before costs and expenses through the issue of 48,598,631 ordinary shares of 0.01p in the capital of the Company (the "New Ordinary Shares") by way of tap issuance.

The proceeds will be used to pay down the cash drawn portion of the Company's corporate debt facility which has been used to finance the Company's recent investments.  This will also put the Company in what it believes to be a strong position to pursue the strong pipeline of investment opportunities currently under consideration.

Michael Gerrard, Chairman of INPP, said: 

"The support from new and existing shareholders is a testament to the quality and diversification of the Company's investment pipeline and the strength of our existing portfolio, which underpin the generation of robust, long-term inflation-linked returns. The proceeds from this capital raising will be used to repay our corporate debt facility and so help us prepare for new investment opportunities in 2020."

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 10 December 2019.

For further information:

Erica Sibree Amber Fund Management Limited	[phone]
Hugh Jonathan Numis Securities	[phone]

 

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