BBGI Global Infrastructure Regulatory News (BBGI)

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, BY ANY MEANS OR MEDIA, TO US PERSONS OR IN OR INTO THE UNITED STATES, OR INTO OR FROM CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

BBGI SICAV S.A.

("BBGI" or the "Company")

Result of Equity Issue

Further to the announcement of 29 March, the Directors of BBGI are pleased to announce that the Placing was significantly oversubscribed and after undertaking a scaling back exercise, £58.5 million of gross proceeds has been raised. A total of 43,039,300 new ordinary shares will be issued at a price of 136.0 pence each.

Application has been made for the new ordinary shares to be admitted to the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange ("Admission"). It is expected that Admission will become effective and dealings in the new ordinary shares will commence at 8.00 a.m. on 11 April 2017.

Following Admission, the number of ordinary shares that the Company has in issue will be 475,254,936. The total number of voting rights of the Company will be 475,254,936 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company.

The Placing is conditional, among other things, on Admission being effective and the Placing Agreement between Jefferies, Stifel and the Company not being terminated.

Commenting, Co-CEOs Duncan Ball and Frank Schramm said:

"We are delighted and encouraged by the support shown from existing and new investors to this fundraising. The fundraising will provide the Company with additional financial flexibility to pursue suitable new primary and secondary investment opportunities."

As part of the issue, M&G Investments ("M&G") subscribed for, on behalf of its clients, 5,471,600 shares for a total consideration of £7,441,376. Additionally, Newton Investment Management ("Newton") subscribed for, on behalf of its clients, 6,042,582 shares for a total consideration of £8,217,912. The issue of shares to M&G and Newton, which are substantial shareholders of the Company under Chapter 11 of the Listing Rules, amount to smaller related party transactions as defined in Listing Rule 11.1.10.

Enquiries:

Important Information

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (Regulation 596/2014). Upon the publication of this Announcement via a Regulatory Information Service this inside information is now considered to be in the public domain.

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

This Announcement and the information contained herein is not for release, publication or distribution, directly or indirectly, in whole or in part, in or into or from the United States, Canada, Australia, Japan, the Republic of South Africa or any other jurisdiction where to do so might constitute a violation of the relevant laws or regulations of such jurisdiction.

Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to

forward a copy of this Announcement should seek appropriate advice before taking any action.

Any indication in this Announcement of the price at which the Ordinary Shares have been bought or sold in the past cannot be relied upon as a guide to future performance. Persons needing advice should consult an independent financial adviser. No statement in this Announcement is intended to be a profit forecast and no statement in this Announcement should be interpreted to mean that earnings per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings per share of the Company.

Neither the content of the Company's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this Announcement.

Jefferies International Limited and Stifel Nicolaus Europe Limited each of which is authorised and regulated in the United Kingdom by the FCA, are acting exclusively for the Company and no-one else in connection with the Placing or the matters referred to in this Announcement, will not regard any other person as their respective client in relation to the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Placing or any transaction or arrangement referred to in this Announcement.

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 either Jefferies or Stifel or by any of their 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.