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Share Name Share Symbol Market Type Share ISIN Share Description
Infrastructure India Plc LSE:IIP London Ordinary Share IM00B2QVWM67 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.80 0.60 1.00 0.85 0.69 0.80 0.00 08:12:41
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 18.0 2.6 0.3 5

Infrastructure India plc Notice of Extension and Trading Update

14/09/2021 7:00am

UK Regulatory (RNS & others)


Infrastructure India (LSE:IIP)
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RNS Number : 6318L

Infrastructure India plc

14 September 2021

14 September 2021

Infrastructure India plc

("IIP", the "Company and together with its subsidiaries the "Group")

Extension of Deadline for Publication of Audited Accounts

Trading and Liquidity Update

Infrastructure India plc, an AIM quoted infrastructure fund investing directly into assets in India, provides the following notice of an extension for publication of audited accounts and an update on trading and company liquidity.

The Group has faced ongoing pandemic related disruptions, particularly during the second wave of Covid-19, which caused significant and widely publicised disruption in India in the first half of the calendar year. Consequently, the IIP Board believes that the Group will require additional time beyond 30 September 2021 to complete the audit process in respect of the Company's annual report and accounts for the year ended 31 March 2021.

T he Group has applied for, and has been granted by AIM Regulation, a three month extension to the timeline for publishing its audited accounts for the year ended 31 March 2021, which are now expected to be published during October 2021.

Trading and Liquidity Update

Since the announcement on 9 August 2021, Distribution Logistics Infrastructure Limited ("DLI") continues to focus on its cost base, core business and strategic partnerships which have bolstered DLI's strong position in the central Indian region. The primary challenges remain liquidity, a severe shortage of labour and regulatory bottlenecks. The disruption and general market turbulence as a result of Covid-19 is expected to continue this year. Conversely, IIP's renewable assets are currently operating in line with expectations due to steady demand for power and longer term offtake agreements.

As at 31 August 2021, the IIP Group had unaudited cash and cash equivalents available of US$3.5 million, including approximately US$1 million of cash receivables. This provides approximately 4-6 months runway for the Group. As announced in August, the Board continues to evaluate options and explore alternative sources of financing with third parties and further announcements will be made as and when appropriate.

The challenging business conditions resulting from of the global pandemic and devaluation of the Indian Rupee (INR) against Sterling (GBP) are anticipated to impact the net asset value for the reporting period. The Board of IIP currently expects to announce net asset value per ordinary share as at 31 March 2021 in the region of 10p - 13p.

Further announcements will be made in the upcoming Annual Results.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.

Enquiries:

 
 
         Infrastructure India plc                         www.iiplc.com 
         Sonny Lulla                                      Via Novella 
 
       Strand Hanson Limited 
        Nominated Adviser 
        James Spinney / James Dance                     +44 (0) 20 7409 3494 
       Singer Capital Markets 
        Broker 
        James Maxwell - Corporate Finance 
        James Waterlow - Investment Fund Sales          +44 (0) 20 7496 3000 
       Novella 
        Financial PR 
        Tim Robertson / Fergus Young                    +44 (0) 20 3151 7008 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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September 14, 2021 02:00 ET (06:00 GMT)

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