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Digital 9 Infrastructure PLC - London-based investor in internet infrastructure, such as data centres and subsea fibre - Calls general meeting on March 25 for shareholders to approve its plan for a managed wind-down. Digital 9 Infrastructure had announced the plan at the end of January, saying it was in response to the position taken by the lenders of its GBP375 million revolving credit facility. The managed wind-down will involve selling the company's portfolio holdings, including Aqua Comms DAC, EMIC-1, Elio Networks and SeaEdge UK1, and its 52% stake in Arqiva Group.
In a trading update on Wednesday for the six months that end December 31, Digital 9 Infrastructure says the portfolio companies continued to perform in line with expectations, though with margins coming under pressure, particularly at Arqiva and Aqua Comms. Aggregate revenue from the portfolio companies was GBP224.7 million in the half-year, up 9.3% from GBP205.6 million a year before. Aggregate earnings before interest, tax, depreciation and amortisation were down 6.1%, however, to GBP93.5 million from GBP99.6 million, as Ebitda margin compacted to 42% from 48%.
Current stock price: 17.40 pence, down 12% in London on Wednesday
12-month change: down 79%
By Tom Waite, Alliance News editor
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