THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME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.
9 January 2013
Proposed Issue of equity
The Board of Directors (the "Board") of International Public Partnerships Limited (the "Company" and/or "INPP") is pleased to announce that the Company is looking to raise approximately £30 million before costs through the issue of ordinary shares in the capital of the Company (the "Shares") by way of tap issuance to qualifying investors1 through its corporate broker, Numis Securities Limited ("Numis"), (the "Issue"). The Board may increase the target size of the Issue up to £40 million at their discretion.
The Issue price per Share will be in the range of 122p to 124p. The Issue is expected to close by 4:30p.m. (London time) on 10 January 2013 but may be closed earlier or later at the absolute discretion of the Company and Numis. Qualifying investors are invited to apply for Shares through contacting Numis on the contact details below. The decision to allot Shares to any qualifying investor shall be at the absolute discretion of the Company and Numis.
The Company has the authority to issue up to 53,638,334 Shares on a non pre-emptive basis by way of tap issue or otherwise, as and when the Board deem appropriate. The Board now deem it appropriate based on the premium that the Company's shares trade at relative to the Net Asset Value per share as well as the good pipeline of investment opportunities that INPP has.
The Company will make a further announcement of the results of the Issue when it has completed.
1. As defined in section 86(7) of the Financial Services and Markets Act 2000 (as amended).
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Chris Gook/Tod Davis (Sales) +44 (0)20 7260 1378/1381
Nick Westlake (Corporate) +44 (0)20 7260 1345
Numis Securities Limited
Ed Berry/Harry Stein +44 (0)20 7269 7297/7141
About International Public Partnerships:
International Public Partnerships (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP), private finance initiative (PFI), regulated asset and other similar procurement methods.
Listed in 2006, INPP is a long-term investor in 122 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.
Amber Fund Management Limited is the Investment Advisor to INPP and consists of more than 80 dedicated staff who manage, advise on and originate projects for INPP.
This Announcement has been issued by and is the sole responsibility of the Company.
No representation or warranty express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Numis or by any of its respective affiliates or agents as to or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.
Neither this Announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.
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 or South Africa or any jurisdiction in which the same would be unlawful. This Announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire shares in the capital of the Company.
The Shares have not been, or will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any State or other jurisdiction of the United States, and accordingly may not be offered, sold or transferred within the United States except pursuant to an exemption from, or in a transaction not subject to, registration under the Securities Act. No offering of the Shares is being made in the United States or to U.S. persons as defined in and in accordance with Regulation S under the Securities Act ("U.S. Persons"). The Company has not been and will not be registered under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act") and investors will not be entitled to the benefits of that Act.
Numis, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for International Public Partnerships Limited and is acting for no-one else in connection with the Issue and will not be responsible to anyone other than INPP for providing the protections afforded to its clients nor for providing advice in relation to the proposed issue or any other matter referred to herein. To the fullest extent permitted by law recipients agree that Numis shall not have any liability (direct or indirect) for or in connection with this Announcement or any matters arising out of or in connection herewith. Numis has not authorised the contents of, or any part of, this document.
This Announcement is for information purposes only and does not constitute an invitation to subscribe for or otherwise acquire or dispose of securities in the Company in any jurisdiction. The information contained in this Announcement is for background purposes only and does not purport to be full or complete. This Announcement does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe or purchase, any investments nor shall it (or the fact of its distribution) form the basis of, or be relied on in connection with, any contract therefor.
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