International Public Partnerships Issue of Equity (8738N)

TIDMINPP

RNS Number : 8738N

International Public Partnerships

27 September 2019

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR TO U.S.PERSONS. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION.

27 September 2019

Issue of Equity

Further to the announcement of 16 September 2019, the Board of Directors (the "Board") of International Public Partnerships Limited (the "Company" and/or "INPP") is pleased to announce the placing has closed, raising GBP116.5 million before costs and expenses through the issue of 75,649,350 ordinary shares of 0.01p in the capital of the Company (the "New Ordinary Shares") by way of tap issuance.

The placing was significantly oversubscribed with strong demand from existing and new shareholders. In light of this demand, the Board has increased the size of the placing from the original target amount of GBP75 million. The proceeds will be used to pay down the cash drawn portion of the Company's corporate debt facility which has been used to finance the Company's recent investments. This will also put the Company in what it believes to be a strong position to pursue the pipeline of opportunities identified in the U.K. and overseas.

Michael Gerrard, Chairman of INPP, said "The success of our capital raise demonstrates the value that we and our investors place on the robustness of our existing portfolio together with the high-quality opportunities that we have identified in our pipeline. Our responsible approach to asset stewardship continues to support the generation of long-term and inflation-linked returns to our investors, and provides core infrastructure which meets societal and environmental needs for all stakeholders both now and into the future."

Application for listing and admission to trading

Application has been made for the New Ordinary Shares to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange. It is expected that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 1 October 2019.

Notification of Transaction by Persons Discharging Managerial Responsibilities (PDMRs) and Persons Closely Associated (PCAs)

The Board announces that the following Directors have participated in the issue and will acquire the following shares:

   --     Michael Gerrard, Chairman of the Company, 27,597 New Ordinary Shares; 
   --     Julia Bond, Director of the Company, 16,233 New Ordinary Shares; and 
   --     John Le Poidevin, Director of the Company, 32,467 New Ordinary Shares. 

For further information:

Erica Sibree [phone]

Amber Fund Management Limited

   Hugh Jonathan                                                                [phone] 

Numis Securities

Important Notices

This Announcement has been issued by and is the sole responsibility of the Company.

Certain statements in this Announcement are forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

This Announcement contains Inside Information as defined under the Market Abuse Regulation (EU) No. 596/2014.

About International Public Partnerships ('INPP'):

INPP is a listed infrastructure investment company that invests in global public infrastructure projects and businesses, which meets societal and environmental needs, both now, and into the future.

INPP is a responsible, long-term investor in 130 infrastructure projects and businesses. The portfolio consists of utility and transmission, transport, education, health, justice and digital infrastructure projects and businesses, in the UK, Europe, Australia and North America. INPP seeks to provide its shareholders with both a long-term yield and capital growth.

Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists over 125 staff who are responsible for the management of, advice on and origination of infrastructure investments.

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 [e-mail] or visit www.rns.com.

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September 27, 2019 02:00 ET (06:00 GMT)