Last checked at 
13 Jan 2011 07:00
13 January 2011
HSBC Infrastructure Company Limited
C Share Conversion Ratio and Admission of New Ordinary Shares to Official List and trading on the London Stock Exchange
Further to its announcement dated 10 January 2011, HSBC Infrastructure Company Limited ("HICL" or the "Company") is pleased to announce the following information in relation to the conversion of its C Shares.
Conversion Ratio for C Shares
The Net Asset Values attributable to the Ordinary Shares and the C Shares as at the Calculation Time, being 7 January 2011, were 111.1p per share and 98.3p per share respectively. The Conversion Ratio for conversion of the C Shares, as calculated in accordance with the Company's prospectus dated 17 November 2010 (the "Prospectus"), is 0.8850 Ordinary Shares for every one C Share held.
On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 885 New Shares upon Conversion.
Entitlements will be rounded down to the nearest whole share. Any fractional entitlements will be aggregated and sold in the market for the benefit of the Company.
The Ordinary Shares arising on Conversion will rank pari passu with, and will have the same rights as, the Ordinary Shares of the Company already in issue.
Further details of the Conversion and rights attaching to the C Shares are set out in the Prospectus. Terms defined in the Prospectus have the same meaning in this announcement unless otherwise defined.
Admission to the Official List and to trading on the London Stock Exchange.
On the basis of the Conversion Ratio, application has been made to the UK Listing Authority for 97,350,000 New Shares to be admitted to the Official List. Application has also been made for the New Shares to be admitted to trading on the London Stock Exchange. It is expected that such admissions will become effective and that dealings in the New Shares will commence on 17 January 2011.
The C Shares will be permanently removed from trading on the London Stock Exchange with effect from the opening of trading at 8:00 a.m. on 17 January 2011.
Expected Timetable
The expected timetable for Conversion is as follows:
Record date for Conversion and C Share register closes
| 14 January 2011 (close of business) |
Conversion Time and dealings in New Shares commence
| 17 January 2011 |
Crediting of CREST accounts with New Shares
| 17 January 2011 |
Share certificates in respect of New Shares despatched
| Week commencing 17 January 2011 |
Voting Rights and Capital
Effective from 17 January 2011, the Company's share capital will consist of 595,139,454 Ordinary Shares with voting rights. 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 under the FSA's Disclosure and Transparency Rules.
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For further information, please contact:
HSBC Specialist Fund Management Limited Tony Roper Keith Pickard Sandra Lowe
| +44 (0) 20 7991 8888 |
Collins Stewart Europe Limited David Yovichic Dominic Waters Robbie Robertson
| +44 (0) 20 7523 8000 |
Oriel Securities Limited Tom Durie Emma Griffin Gareth Price
| +44 (0) 20 7710 7600 |
M: Communications Ed Orlebar Andrew Benbow
| +44 (0) 20 7920 2330
|
The contents of this announcement have been prepared by and are the sole responsibility of HICL. Collins Stewart Europe Limited ("Collins Stewart") and Oriel Securities Limited ("Oriel Securities"), both of whom are regulated by the Financial Services Authority, are acting exclusively for HICL and no-one else and will not be responsible to anyone other than HICL for providing the protections afforded to the clients of Collins Stewart and Oriel Securities respectively, nor for affording advice in relation to the Issue, the contents of this announcement or any matter referred to herein.