Infrastructure India Share Discussion Threads

[noirua] 22/1/2019 23:29

The funding is misleading in away as GGIC with 75.4% of IIP are making the loans possible through their own affiliate Cedar Valley.

GGIC must want IIP to be successful with this interest and must trust the deal that is in place in that it will eventually be completed. The interest rate at 12%pa is not low and some may well think it should be provided in the circumstances at a much lower interest rate. So GGIC are doing well out of this.

Shareholders may rightly puzzle why this deal is taking so long and question the big build up in debt. The market cap of IIP is under $20 million and debt servicing nearly $8 million per annum.

Total IIP debt nears $75 million and the agreement is for $50 million to IIP for 24% of DNL and $75 million to DNL for restructuring.

It needs some reckoning but all this extra debt should really be paid by PSA International and Gateway the bidders. Otherwise this loan extension situation is likely to go on and on.

GGIC's loan provision posturing antics here are puzzling.

[terryfx] 22/1/2019 18:14

I wonder whether the IIP debacle has impacted their fundraising in other vehicles. A total mess

[noirua] 22/1/2019 10:00

Pursuant to the Bridging Loan Extension, the Company and Cedar Valley have agreed to extend the maturity of the Bridging Loan such that the Bridging Loan will now mature on the earlier of: (i) 15 days following the completion of the Proposed Financing; or (ii) 4 February 2019.

In addition, the Company has agreed a further increase to the Bridging Loan which was previously provided to the Company by Cedar Valley such that a further US$5 million (the "Additional Funds") has been made available to the Company under the Bridging Loan Increase.

The Company intends to draw down the Additional Funds immediately. On draw down of the Additional Funds the Bridging Loan, now totalling US$53.4 million, will be fully drawn down.

Pursuant to the Working Capital Loan Extension, the Company and GGIC have agreed to extend the maturity of the Working Capital Loan such that the Working Capital Loan will now mature on 4 February 2019. The other terms of the Working Capital Loan remain unchanged.

GGIC is, directly and indirectly, interested in 75.4% of the Company's issued share capital and Cedar Valley is an affiliate of GGIC. Under the AIM Rules for Companies ("AIM Rules") GGIC and Cedar Valley are, therefore, deemed to be a related parties of the Company and the Bridging Loan Extension, the Bridging Loan Increase and the Working Capital Loan Extension are related party transactions pursuant to Rule 13 of the AIM Rules. The independent directors of IIP, M.S. Ramachandran and Timothy Walker, consider, having consulted with Cenkos Securities plc in its capacity as the Company's nominated adviser, that the terms of the Bridging Loan Extension, Bridging Loan Increase and the Working Capital Loan Extension are fair and reasonable insofar as the shareholders of IIP are concerned.

[noirua] 22/1/2019 01:08

Should be an RNS later this morning. That is something the company is very much 'on the ball' on. They appear to be doing their best.

[rjmahan] 21/1/2019 18:44

I think without good news this heads to 0 and time elapsed increases probability of bad news.

[noirua] 21/1/2019 13:43

Today is of course the one for a further announcement on the loan agreement. The market is expecting nothing from this to be bullish and no investors have bought before the news. If the news is very good the shares will rocket in price but no fuel for the rocket as yet.

A fair gamble at around 2.5p but that is what it is at the moment.

[rjmahan] 21/1/2019 10:36

I am exiting this - it has taken far too long...

[noirua] 18/1/2019 23:52

As a result of the continued delays in completion of the proposed financing, and IIP's current inability to commit additional funding to DLI - its unaudited cash balances as at 31 December were about £0.25m - DLI had recently entered into short term borrowing facilities in India and, in part, had begun to divert cash from operations in order to service DLI debt facilities.

08/01/2019

[noirua] 08/1/2019 09:12

Loans extended once again to Monday 21 January 2019.

[noirua] 07/1/2019 17:09

News awaited now! Ahead of completion of the Proposed Financing, IIP has agreed an extension to the maturity date of the Bridging Loan (the "Bridging Loan Extension") and an extension to the maturity date of the Working Capital Loan (the "Working Capital Loan Extension") to 7 January 2019.

GGIC is, directly and indirectly, interested in 75.4% of the Company's issued share capital and Cedar Valley is an affiliate of GGIC. Under the AIM Rules for Companies ("AIM Rules") GGIC and Cedar Valley are, therefore, deemed to be a related parties of the Company and the Bridging Loan Extension and the Working Capital Loan Extension are related party transactions pursuant to Rule 13 of the AIM Rules.

The independent directors of IIP, M.S. Ramachandran and Timothy Walker, consider, having consulted with Cenkos Securities plc in its capacity as the Company's nominated adviser, that the terms of the Bridging Loan Extension and the Working Capital Loan Extension are fair and reasonable insofar as the shareholders of IIP are concerned.

[noirua] 28/12/2018 14:48

Present bridging loan and capital loan total US$69.9 million - Loans are extended to 7 January 2019.
Sums due US$50 million to IIP and DLI US$75 million.

-- The Board believes that, following completion of the Proposed Financing, the Company will be well placed going into 2019.

[noirua] 21/12/2018 21:04

IIP appear closer to completion with just Government hurdles to be completed shortly.


Loans are extended to 7 January 2019.

Following IIP shareholder approval of the Proposed Financing at an extraordinary general meeting on 24 August 2018, the parties continue to progress towards completion of that transaction, with several conditions precedent to the closing having been met and the remainder, including key governmental approvals, expected to be met in the coming weeks.

[noirua] 13/12/2018 09:08

Half Year Report:

[noirua] 10/12/2018 18:19

Infrastructure India plc - Notice of Interim Results to 30 September 2018


Infrastructure India plc, the infrastructure fund investing directly into assets in India, announces that it expects to publish its unaudited interim results for the six months ended 30 September 2018 on 14 December 2018.

As was noted in the Company's final results announcement released on 21 September 2018, funding constraints have overshadowed progress at IIP's largest asset, Distribution Logistics Infrastructure Limited ("DLI") and without sufficient completion capital, DLI has been unable to further progress construction at its terminals.

DLI has, as a result, continued to focus on streamlining existing operations pending completion of the proposed $125m financing announced by the Company on 31 July 2018.

Delays to completion schedules at DLI, and the associated changes to DLI business assumptions, together a weakening of the Indian Rupee (INR) against Sterling (GBP) at the end of the interim period (with a GBP:INR rate of 94.21 as at 30 September 2018 against 90.81 in March 2018 and 87.44 in September 2017) are expected to impact the unaudited net asset value of the Company as at 30 September 2018.

The board of IIP (the "Board") currently expects to announce an unaudited net asset value per ordinary share as at 30 September 2018 of approximately GBP0.21 (31 March 2018: GBP0.28; 30 September 2017: GBP0.35).

The Board looks forward to updating shareholders on IIP's performance during the six month period ended 30 September 2018 shortly.

[noirua] 04/12/2018 14:35

Still we have sellers at 2p, a discount of 92% to the last NAV of 28p. We will get another NAV figure shortly. It will be interesting to see how matters go as there may be concern over whether the agreements made are satisfied or not. That being the sums of US$50m and US$75m. Save that these concerns are satisfied in a reasonable time the present discount to NAV may prove to have been unduly onerous.

[noirua] 02/12/2018 14:22

The Interim Results are due out around 13 December for the half year to September 30 2018.

[noirua] 20/11/2018 16:24

A lot of selling today for some reason. Appears to be no news out at the moment.

[the white rabbit] 19/11/2018 16:30

what deal?

when is it expected

[noirua] 19/11/2018 10:08

Today's loan extension steadies the ship until the deal is completed.

[tidy_advfn_biggest_loser] 05/11/2018 17:51

YOU HAVE BEEN DEGSEYED

HE WAS BUYING AT 8.5P. LOL



tidy 2 - 22 Aug 2018 - 13:13:42 - 763 of 1110 Infrastructure India (IIP) - IIP
Ta wise she is good but with news of the 95m the targets will likely be smashed
tidy 2 - 22 Aug 2018 - 12:57:42 - 761 of 1110
True actually.
tidy 2 - 22 Aug 2018 - 12:47:39 - 758 of 1110
Nicola
tidy 2 - 22 Aug 2018 - 12:44:27 - 754 of 1110
IIP resistance at 9.05 targets 11.85 and 23.80 next.

Confirmed by Nic Duke
tidy 2 - 22 Aug 2018 - 12:25:54 - 752 of 1110 I


tidy 2 - 22 Aug 2018 - 12:10:48 - 750 of 1110
TA targets 28p 44p and 88p.

[noirua] 05/11/2018 11:31

Some buying at this amazingly large discount to the 28p NAV.

[noirua] 24/10/2018 15:54

tidy 2, when refinancing is completed US$50 million will be paid to IIP to pay down the debt - there will be a saving in interest that is up to 12%pa. As to the cash burn, refinancing of DLI by US$75 million will be provided and that cash burn you talk about will no longer be an IIP responsibility.

The bridging loan stands at US$46.4 million and Working Capital Loan at US$21.5 million - = $67.9 million.


The NAV at 31 March 2018 was 28p a share. Much has happened since so it is all a bit in the melting pot. The share price is 3p - 4p a share.

[tidy 2] 23/10/2018 22:44

This dog is bust. Zero value. 90m debt and counting. 45m pa cash burn. This is a magnate of Genuine losers. Yes you.