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23 Sep 2013 07:00
23 September 2013
GCP Infrastructure Investments Limited ("GCP" or the "Company")
Results of Equity Issue
Further to the announcement on 18 September 2013 that the Company was considering raising further equity, the Company announces that it has issued for cash 20,417,633 new Ordinary Shares of 1 pence each in the Company ("New Shares") (the "Issue") at an issue price per share (before expenses) of 107.75 pence, raising gross proceeds of £22m. The Issue was significantly oversubscribed. The New Shares rank pari passu with the existing Ordinary Shares. In accordance with the Company's investment strategy, the net proceeds of the Issue will be invested in the Ordinary Redeemable Income Shares of the Master Fund. Commenting on the Issue, Ian Reeves CBE, Chairman, said: "We are delighted to have received such strong demand for this equity raise and the proceeds raised will allow the Master Fund to take advantage of attractive investment opportunities. The significant participation and interest in this equity raise by both new and existing investors demonstrates continued confidence in the Company and the quality of the Company's investment proposition." An application has been made for the New Shares to be admitted to the Official List and to trading on the London Stock Exchange. It is expected that dealings in the New Shares will commence at 8.00 a.m. 26 September 2013. Effective from 26 September 2013 the Company's share capital will consist of 281,384,013 Ordinary Shares, each Ordinary Share conferring upon the holder one vote. 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 in their interest in, the Company under the FCA's Disclosure and Transparency Rules.
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Contact details:
Gravis Capital Partners LLPStephen Ellis +44 (0)20 7518 1495Rollo Wright +44 (0)20 7518 1493
Oriel SecuritiesNeil Winward +44 (0)20 7710 7600Mark BloomfieldTunga Chigovanyika
BuchananCharles Ryland +44 (0)20 7466 5000Sophie McNulty
Notes to Editors
The Company
The Company is a closed-ended investment company that seeks to generate returns from senior and subordinated infrastructure debt and related and/or similar assets (the "Target Assets"). The Company achieves this by investing substantially all of its capital in GCP Infrastructure Fund Limited (the "Master Fund"), an open-ended investment company that holds the Target Assets. The Company is the majority shareholder of the Master Fund. The Company and the Master Fund are advised by Gravis Capital Partners LLP (the "Investment Adviser").
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