Hicl Infrastructure Share Discussion Threads

[rik shaw] 01/3/2013 12:56

I see TDW indicated 1.915 rather than 1.195 in their notice to shareholders- now corrected in the corporate action area on their website !

[skinny] 01/3/2013 12:20

Noon on the 15th with HL.

[jonwig] 01/3/2013 12:15

Me too - deadline is 14th with TDW.

[skinny] 01/3/2013 11:30

I've just had the details through and will probably take up my entitlement plus a few more to round up my holding.

[jonwig] 26/2/2013 12:12

Assuming they do increase the offer to 140m shares, the ex-price should be about 125.8p, so it seems to have overshot the mark a bit!

Anyway, I'll apply for some extra, as I've been selling a few things lately.

EDIT: xd tomorrow, too: 3.575p, making the offer a bit less attractive.

[skinny] 26/2/2013 11:55

Summary

Further to the announcement made by HICL Infrastructure Company Limited (the "Company") on 31 January 2013, the Board of Directors is pleased to announce a Placing, Open Offer and Offer for Subscription with a target size of 100 million New Ordinary Shares at an issue price of 119.5p per New Ordinary Share (the "Issue"). The Company has published a prospectus relating to the Issue (the "Prospectus") and a circular to shareholders (the "Circular"), both of which will be posted to shareholders shortly, as well as being made available on the Company's website (www.hicl.com).

[jonwig] 13/2/2013 11:20

Questor says 'buy' - again:

[skinny] 11/2/2013 07:14

Highlights

· Investment portfolio performance and cashflow is in line with projections. NAV per share on an Investment basis as at 31 December 2012 rose 1.6p per share to 115.8p (ex-dividend, and 117.6p including 1.8p of accrued dividend) from 114.2p at 30 September 2012 driven primarily by increases in market prices for UK PFI/PPP investments and changes to economic assumptions.

· Seven new UK investments acquired and two additional stakes in existing investments made during the period, for a total consideration of £143.8m.

· A first interim dividend of 3.425p per share was paid on 31 December 2012 and there was a 12 per cent take-up of the scrip dividend alternative. On track for a total dividend per share for the year to 31 March 2013 of 7.0p.

· £105.3m in aggregate of Ordinary Share issuance in November and December has fully utilised the Group's ability to issue by way of 'tap'.

· The Company announced on 31 January 2013 that it intends to raise additional equity capital by way of a Placing, Open Offer and Offer for Subscription of new Ordinary Shares in March 2013.

· The outcome of the Office of National Statistics ("ONS") consultation process on how UK RPI is calculated has left the method of calculation unchanged and hence no impact on the Group's contracted cash flows.

[jonwig] 31/1/2013 11:53

Fundraising intention in late March gave a knock to the share price.

Strange, if it's only £30m as the RNS seems to suggest. That would be 1:40 on a pro rata basis at (say) 120p.

If it's much larger, that could be a problem for some PIs (such as me) who hold the stock in an ISA and might not have the cash free.

[skinny] 14/1/2013 07:06

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, is pleased to announce that the Group has completed the acquisition of a 50% equity and loan note interest (the "Interest") in the Northwood MoD HQ PFI Project (the "Project") from Carillion Private Finance (Defence) Limited ("Carillion") for £30.6m.

The Project is a £198m scheme to design, construct and commission new-build facilities and associated site infrastructure and retained estate reconfiguration on behalf of the Ministry of Defence in Northwood, Greater London. The Project reached financial close in July 2006 and is for a term of 25 years from that date.

[asmodeus] 23/12/2012 18:48

Is the market open tomorrow? Answer - yes - I looked it up.

[chester] 22/12/2012 11:35

Thanks jonwig.

[jonwig] 22/12/2012 08:59

There was a final uncrossing trade at 122 when the closing quote was 124.8 - 124.9, hence the second and third charts showing a closing price of 122.

Unless something unpleasant happens before Monday, I'd expect the opening quote to follow on at the 124.8 level.

[chester] 22/12/2012 07:57

Did I miss another reason for the drop yesterday ?

[skinny] 21/11/2012 08:32

edit - duplicate.

[chester] 21/11/2012 08:31

Apologies. I looked under Sharescope for the date and it wasn't given.
Cheers Jonwig.

[jonwig] 21/11/2012 08:29

ex-div, 3.425p!

[chester] 21/11/2012 08:21

I'm here too but why the hefty drop today ?

[redips2] 21/11/2012 08:17

and I'm here----

[jonwig] 21/11/2012 07:31

I haven't double-checked, but the premium to NAV is now about 9.3% (xd) which seems to be a record high.

I suppose there is a lot of demand from income funds (if not bulletin board posters) for this kind of stock.
Brewin Dolphin, I know, are very keen - they put their clients into it quite heavily. (See holders in header - wealth managers!)

[skinny] 21/11/2012 07:23

Highlights

for the six months ended 30 September 2012 (on an Investment basis unless noted otherwise1)

· Profit before tax of £42.2m, up 37% period-on-period

· Interim Dividend of 3.425p per share declared (2011: 3.35p), payable in December 2012, with a scrip alternative

· Net asset value per share (post-interim dividend) of 114.2p, up 1.4p from 112.8p at 31 March 2012

· Value of portfolio at 30 September 2012 rose 12.6% to £1,015.9m from £902.0m at 31 March 2012

· Portfolio performance and cash receipts in line with plans - all but one project now fully operational

· Three new investments and seven incremental stakes acquired during the period with an aggregate investment value of £106.4m

· £37.6m of additional acquisitions made since the period end, with further acquisitions contracted or in exclusive discussions

· Disposal of the Group's investment in Doncaster Schools for £5.3m in November 2012, realising a profit post period end

· A healthy forward pipeline of potential new investment opportunities

· C Shares converted in April 2012 with substantially all of the £246.8m of net proceeds invested at 30 September 2012

[madengland] 19/11/2012 08:50

Are we to see more small profits and portfolio rationalisations.....hopefully a few bigger ones also. Sounds good to me.

The disposal follows a review to evaluate the possible opportunities for portfolio rationalisation.
The total consideration received for the Project disposal is £5.3m, which generates a small profit for the Group.

[skinny] 19/11/2012 08:27

15 November 2012

HICL Infrastructure Company Limited (the 'Company')

Interim Dividend

HICL Infrastructure Company Limited is pleased to announce an interim dividend of 3.425 pence per ordinary share for the financial year ending 31 March 2013. The interim dividend of 3.425 pence per share will be paid on 31 December 2012 to shareholders on the register as at the close of business on 23 November 2012.




HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, announces that the Group has sold its 50% equity and loan note interest (the "Interest") in Doncaster Schools PFI project (the "Project") to Vinci Pensions Limited, an affiliate of the co-shareholder Vinci (Holdings) Limited in the Project.

This Project was acquired in December 2011 as part of a portfolio acquisition of 26 assets. The disposal follows a review to evaluate the possible opportunities for portfolio rationalisation.
The total consideration received for the Project disposal is £5.3m, which generates a small profit for the Group.

[skinny] 22/10/2012 07:16

Acquisition of an Investment in the Fife Schools 2 PPP Project for £3.9m
HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, is pleased to announce that the Group has acquired a 30% equity and loan note interest in the Fife Schools 2 PPP (the "Project") from Miller Emblem Investments Ltd ("Miller").

The Project is a 25 year concession to design, construct, finance and maintain nine primary schools and one special education needs facility, on eight sites in the Fife area of Scotland.

The new schools were built by Miller Construction under a £63.5 million fixed-price construction contract between 2005 and 2007 and they currently provide accommodation for 3,200 pupils. The schools have been operational since 2007. FES FM Limited provides both the hard and soft facilities management services to the Project.

The total consideration paid by the Group is £3.9m, which is in line with the current valuations of similar UK PFI projects in the Group's portfolio. The acquisition was funded from the Group's existing cash and debt resources.