C Share Conversion Ratio and Admission (0707C)

TIDMHICL TIDMHIC

RNS Number : 0707C

HICL Infrastructure Company Ld

25 April 2012

25 April 2012

HICL INFRASTRUCTURE COMPANY LIMITED

C Share Conversion Ratio and Admission of New Ordinary Shares

Further to its announcement of 20 April 2012, the Board of HICL Infrastructure Company Limited (the 'Company') is pleased to announce the following information in relation to the conversion of its C Shares.

Conversion Ratio for C Shares

The Net Asset Values as at the Calculation Time (being 20 April 2012) for an Ordinary Share and a C Share were 113.2p and 98.77p respectively. Accordingly, the Conversion Ratio for conversion of the C Shares, as calculated in accordance with the Company's prospectus dated 29 February 2012 (the 'Prospectus'), is 0.8722 of an Ordinary Share for every one C Share held.

The Net Asset Value of an Ordinary Share at 20 April 2012 is higher than the Net Asset Value of an Ordinary Share as at 31 March 2012 reflecting accrued income for the 20 day period.

On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 872 new Ordinary Shares upon Conversion.

Entitlements will be rounded down to the nearest whole share. Any fractional entitlements will be aggregated and sold in the market for the benefit of the Company.

Ordinary Shares arising on Conversion will rank pari passu with, and will have the same rights as, the Ordinary Shares of the Company already in issue. For the avoidance of doubt, new Ordinary Shares will not be entitled to the dividend declared prior to Conversion on 12 April 2012 for the financial year ended 31 March 2012.

Further details of the Conversion and rights attaching to the C Shares are set out in the Prospectus.

Admission to the Official List and to trading on the Main Market of the London Stock Exchange

On the basis of the Conversion Ratio, application has been made to the UK Listing Authority for 218,050,000 New Shares to be admitted to the Official List and to the London Stock Exchange for the New Shares to be admitted to trading. It is anticipated that such admission will become effective, and that dealings in the New Shares will commence, on 27 April 2012.

Cancellation of C Shares

The C Shares will be permanently removed from trading on the London Stock Exchange with effect from the opening of trading at 8.00 a.m. on 27 April 2012.

Expected timetable

 
 Record date for Conversion           Close of business on 26 April 
  and C Share register closes          2012 
 Dealings in new Ordinary Shares      27 April 2012 
  commence 
 Crediting of CREST accounts          27 April 2012 
  with new Ordinary Shares 
 Share certificates in respect        Week commencing 30 April 2012 
  of new Ordinary Shares despatched 
 

Defined words and terms used in this announcement shall have the same meaning as ascribed to them in the Prospectus.

Enquiries:

 
 InfraRed Capital Partners Limited    020 7484 1800 
 Tony Roper 
 Keith Pickard 
 Sandra Lowe 
 
 
 Canaccord Genuity Limited            020 7523 8000 
 Robbie Robertson 
 David Yovichic 
 Lucy Lewis 
 Dominic Waters 
 Neil Brierley 
 Will Barnett 
 
 Tulchan Communications               020 7353 4200 
 Ed Orlebar 
 Rebecca Scott 
 

Canaccord Genuity Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for the Company and for no one else in connection with the Issue and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Canaccord Genuity Limited or for affording advice in relation to the Issue, the contents of this announcement or any other matters referred to herein.

This information is provided by RNS

The company news service from the London Stock Exchange

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