International Public Partnerships Issue of Equity (8738N)
September 27 2019 - 2:00AM
UK Regulatory
TIDMINPP
RNS Number : 8738N
International Public Partnerships
27 September 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THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,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.
27 September 2019
Issue of Equity
Further to the announcement of 16 September 2019, 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 GBP116.5 million before costs and
expenses through the issue of 75,649,350 ordinary shares of 0.01p
in the capital of the Company (the "New Ordinary Shares") by way of
tap issuance.
The placing was significantly oversubscribed with strong demand
from existing and new shareholders. In light of this demand, the
Board has increased the size of the placing from the original
target amount of GBP75 million. 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 pipeline of opportunities
identified in the U.K. and overseas.
Michael Gerrard, Chairman of INPP, said "The success of our
capital raise demonstrates the value that we and our investors
place on the robustness of our existing portfolio together with the
high-quality opportunities that we have identified in our pipeline.
Our responsible approach to asset stewardship continues to support
the generation of long-term and inflation-linked returns to our
investors, and provides core infrastructure which meets societal
and environmental needs for all stakeholders both now and into the
future."
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 1 October 2019.
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:
-- Michael Gerrard, Chairman of the Company, 27,597 New Ordinary Shares;
-- Julia Bond, Director of the Company, 16,233 New Ordinary Shares; and
-- John Le Poidevin, Director of the Company, 32,467 New Ordinary Shares.
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Hugh Jonathan +44 (0)20 7260 1263
Numis Securities
Important Notices
This Announcement has been issued by and is the sole
responsibility of the Company.
Certain statements in this Announcement are forward-looking
statements which are based on the Company's expectations,
intentions and projections regarding its future performance,
anticipated events or trends and other matters that are not
historical facts. These statements are not guarantees of future
performance and are subject to known and unknown risks,
uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. Given these risks and uncertainties,
prospective investors are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements speak only
as of the date of such statements and, except as required by
applicable law, the Company undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.
This Announcement contains Inside Information as defined under
the Market Abuse Regulation (EU) No. 596/2014.
About International Public Partnerships ('INPP'):
INPP is a listed infrastructure investment company that invests
in global public infrastructure projects and businesses, which
meets societal and environmental needs, both now, and into the
future.
INPP is a responsible, long-term investor in 130 infrastructure
projects and businesses. The portfolio consists of utility and
transmission, transport, education, health, justice and digital
infrastructure projects and businesses, in the UK, Europe,
Australia and North America. INPP seeks to provide its shareholders
with both a long-term yield and capital growth.
Amber Infrastructure Group ('Amber') is the Investment Adviser
to INPP and consists over 125 staff who are responsible for the
management of, advice on and origination of infrastructure
investments.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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