Hicl Infrastructure Share Discussion Threads

[schofip] 06/11/2014 10:39

Am I missing a trick is there not a quarterly dividend due around nov 14

[skinny] 06/11/2014 07:10

Notice of Results & Quarterly Dividend

HICL Infrastructure Company Limited (the 'Company') intends to announce its interim results for the six months ended 30 September 2014 on Wednesday 19 November 2014. An analyst presentation will be held at 9:30 a.m. on the day of the results at the offices of the Company's corporate broker, Canaccord Genuity at 88 Wood Street, London EC2V 7QR.

In addition, it is the Directors' current intention that the second quarterly interim dividend for the financial year ending 31 March 2015 will be announced on Friday 14 November 2014. As usual there is expected to be a scrip dividend alternative further details of which, including a scrip dividend mandate form, can be found in the Scrip Dividend Circular 2014-15 available from the Company's website at

[skinny] 05/11/2014 13:41

The site still just has 'November' -

New high @149.60p

[badtime] 05/11/2014 13:22

Aren't we due a div announcement ?

[skinny] 09/10/2014 07:50

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, is pleased to announce the acquisition of a further 3.4% interest in the Victorian Desalination PPP Project. The additional interest is a beneficial interest, held via an Australian company, and was acquired from a number of private investors. It takes the Group's overall interest in the Project to approximately 9.3%. The consideration paid by the Group for the additional interest was A$46.0m (£25.2m) which was funded from the Group's existing cash and debt resources. The consideration is in line with the valuation of other similar assets in the Group's portfolio.

The Project was procured under the State of Victoria's Partnerships Victoria Policy and is the largest desalination plant in the southern hemisphere capable of producing 444ML of drinking water per day (150GL/year). The Project reached financial close in September 2009 and became fully operational in December 2012.

Construction of the Project was undertaken by a construction joint venture of Theiss Pty Ltd and Degrémont Pty Ltd. It is being operated and maintained by an operations joint venture of Degrémont Pty Ltd and Theiss Services Pty Ltd.

[skinny] 02/10/2014 07:05

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, is pleased to announce the acquisition of a 50% incremental interest in the Pinderfields and Pontefract Hospitals PPP Project ("P&P") from Balfour Beatty Infrastructure Investments Limited, a subsidiary of Balfour Beatty plc ("Balfour Beatty"). The incremental stake takes the Group's ownership in P&P to 100%.

The total consideration paid by the Group for the interest was £61.5m, and was funded from the Group's existing cash and debt resources.

P&P involves the financing, design and construction and operation of two hospital facilities for the Mid Yorkshire Hospitals NHS Trust, delivering a combined total of 774 beds. Construction of the new hospital facilities on the two sites was completed in 2011, with construction works undertaken by subsidiaries of Balfour Beatty plc. Services are being delivered by Cofely Workplace Limited.

Erwan Fournis, Director, Infrastructure at InfraRed Capital Partners Limited, the Company's Investment Adviser, said:

"We are pleased to have completed this incremental acquisition which meets the Group's strategy of increasing its stakes to majority ownership when the opportunity arises. It demonstrates how the Group can leverage the existing portfolio to increase ownership. We look forward to working alongside the supply chain to provide high quality facilities to the Trust."

-ends-

[skinny] 22/9/2014 07:07

Acquisition of two incremental investments for £5.1m

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, is pleased to announce the acquisition of two incremental investments which comprise:

· a further 19% interest in the Sheffield BSF Schools project ("Sheffield BSF") from Building Schools for the Future Investments LLP, which takes the Group's ownership to 59%; and
· a further 50% of the Oldham Library PFI Project ("Oldham Library") in conjunction with an existing joint venture partner, Kajima Partnerships Limited ("KPL"), from a subsidiary of Kier plc.

The Group and KPL have established a new joint venture holding company ("HoldCo") in which the Group has a 90% shareholding. Following the Kier transaction, HoldCo now owns 100% of Oldham Library, increasing the Group's ownership from 50% to 90%.

Sheffield BSF is a 27-year PFI concession which involved the design, construction, financing, maintenance and operation of two new secondary schools and one new special educational needs secondary school in Sheffield, on behalf of the Sheffield City Council. The project was signed in July 2007 and has been fully operational since September 2009.

Oldham Library is a 25-year PFI concession which involved the design, construction, financing, maintenance and operation of a new library and lifelong learning centre in Oldham, on behalf of the Oldham Metropolitan Borough Council. The project was signed in May 2004 and has been fully operational since January 2006.

The consideration paid by the Group for both incremental investments is in line with the current valuation of similar UK social infrastructure projects in the Group's portfolio.

[schofip] 19/9/2014 14:56

Very happy today

[chester] 19/9/2014 07:59

We should get a nice lift today.

[chester] 18/9/2014 16:27

I topped up too schofip.

[schofip] 18/9/2014 10:36

Took the opportunity topup with a few more at 141.00. The dividend is good and the shares were probably due a short term pull back. Cant see any justifiable reason why these won't return up to 147 level over next few weeks.

[chester] 17/9/2014 17:52

schofip - This is probably the reason...

[chester] 17/9/2014 17:50

I noticed that INPP and JLIF dropped 2.8% and 1.5% today also. Both are Infrastructure Investment Trusts. I am unsure of the reasoning behind this.

[schofip] 17/9/2014 17:41

Anybody know why there has been a sell off or is just just normal market movements.
if so looking to top up a few more.

[schofip] 31/8/2014 23:20

Thanks to all for your clarification of the situation.

I have been pleased with my investment with Guernsey based companies in my ISA such as HICL as there is no stamp duty and no dividend and CGT tax to pay.

[jonwig] 27/8/2014 20:26

EU dividend directive 2009 did away with double taxation.

Outside the ISA: declare the HICL dividend under Foreign Income,
country code GGY, and the tax credit of 10% is effectively ignored,
so the result is the same as within your ISA. (Unless you're a
higher rate taxpayer, of course.)

Here's a good explanation:

Http://www.taxinsider.co.uk/369-Foreign_Dividends_and_Their_New_UK_Tax_Treatment.html

[david77] 27/8/2014 20:17

You don't have to tell the taxman anything about shares in your ISA
- that applies to dividends and capital gains or losses.

[daveofdevon] 27/8/2014 20:15

The shares in the ISA are exempt from Income tax and Capital Gains
tax. In other words nothing needs to be declared, it's as if they
don't exist.

The shares outside the ISA are subject to income tax and GCT and
normal declarations should be made on your return.

[schofip] 27/8/2014 19:52

I think this may have been covered previously however I am still
unsure so any help appreciated.

I have a number of HICL shares in an ISA and a number of HICL
shares outside an ISA. What is the tax position regarding both
situations. I am in the process of filling in my tax return and
don't want to make a mistake.

Thanks

[hiddendepths] 27/8/2014 14:34

Regained div and then some!

Interesting but very welcome rise.

[badtime] 20/8/2014 10:40

ex div today

[unastubbs] 29/7/2014 11:18

a delayed reaction to yday's IMS? very pleasing...

[unastubbs] 28/7/2014 07:27

good that they will start paying dividends quarterly - works better for me at least...

[skinny] 28/7/2014 07:25

Investment Activity and Portfolio Performance

· Since 1 April 2014, the Group has invested or committed an aggregate £58.6m in three new investments and in the acquisition of an incremental stake in an existing project.

· The largest investment in the period was the acquisition of a 5.85% stake in the AquaSure PPP project in Melbourne for £47m which represents the Group's first investment in Australia. The project is the largest desalination plant in the Southern Hemisphere and is structured as a PPP contract with availability payments from the State of Victoria.

· The portfolio continues to perform well with no material operational issues. Cash generation is expected to be ahead of the Company's forecasts for the six months to 30 September 2014.

The Company

· The Company has successfully registered as a self-managed Alternative Investment Fund in accordance with the EU's Alternative Investment Fund Managers Directive and the Board has formed a Risk Committee, the terms of reference for which are on the Company's website.

· On 1 June 2014, Frank Nelson was appointed as a non-executive director of the Company. He is a UK resident and a qualified accountant. He has over 25 years of experience in the construction, contracting, infrastructure and energy sectors, and was Finance Director of construction and house-building group Galliford Try Plc from 2000 until October 2012.




Dividends and Financing

· The take-up of the scrip dividend in relation to the second interim dividend of 3.6p per share for the year to 31 March 2014 was 8.3%, resulting in an additional 2.6m ordinary shares being issued on 30 June 2014.

· The Company is moving to quarterly dividends with the first quarterly interim dividend of 1.81p per share declared on 23 July 2014. This is in line with the Board's previous guidance of 7.25p per share for the financial year ending 31 March 2015.

· Following receipt of shareholder approval at the AGM on 22 July 2014, a scrip dividend alternative will operate for the four quarterly interim dividends for the financial year ending 31 March 2015, full details of which are set out in the 'Scrip Dividend Circular 2014-15' on the Company's website at under Circulars.

· On 18 June 2014 the Company raised gross proceeds of £50.7m through an oversubscribed tap issue of 37m ordinary shares at a price of 137.0p, a premium to current NAV per share. The issue fully satisfied the Group's net funding requirement.

· Following a renewal of shareholder approval at the AGM of the Board's authority to issue up to 10% of outstanding shares on a non pre-emptive basis during the next 12 months, the Company's tap capacity is currently 70m shares.


Outlook

· The Investment Adviser's infrastructure team is active in social and transportation infrastructure across the UK, Europe, Australia and Canada and is confident of sourcing new investments which meet the Group's investment policy and strategy and which have similar risk reward dynamics to the existing investment portfolio.

· That said, market appetite in the UK for the type of secondary infrastructure projects, in which the Company invests, remains strong with demand outstripping supply, resulting in higher asset prices.

· The Company will not compromise its investment standards by acquiring projects with, in the Investment Adviser's view, inadequately structured contractual arrangements or by making overly-optimistic assumptions with regard to key revenue and cost variables which can inflate valuations but are unlikely to be fulfilled over the long term.

· The next valuation of the Group's portfolio will be as at 30 September 2014, and will be published with the Company's interim results in November. The key variables expected to impact this valuation include further upward pressure on prices seen in the market, and recognition of the reduction of UK corporation tax rate of 20% from April 2015. Although foreign asset values and net cashflows will be impacted by the recent strength of UK Sterling, the Company's hedging policy will largely mitigate any adverse consequences for cashflow or the balance sheet.

· The Company's NAV as at 30 September will reflect changes in the value of the portfolio and the accretive tap issuance in July.

Ends

[p1nkfish] 20/6/2014 18:17

Good to see.
I bought yesterday or the day before - a blur. It looked too strong to fall back so I did a 180 degree turn.
Happy to see the break-out.