HICL Infrastructure Regulatory News (HICL)

16 May 2018

HICL Infrastructure Company Limited

Fourth Quarterly Interim Dividend and Scrip Dividend Alternative Suspension

HICL Infrastructure Company Limited ("HICL" or the "Company") is pleased to announce a fourth quarterly interim dividend for the financial year ended 31 March 2018 of 1.97 pence per ordinary share (the "Q4 Dividend"). The shares will go ex-dividend on 24 May 2018 and the Q4 Dividend will be paid on 29 June 2018 to shareholders on the register as at the close of business on 25 May 2018.

Since July 2008, the Company has provided a scrip dividend alternative (the "Scrip Dividend Alternative") for shareholders on the register on the appropriate record date who wish to receive new ordinary shares in lieu of cash ("Scrip Shares").

The reference price of the Scrip Shares in respect of the Q4 Dividend is due to be calculated and published on or around 1 June 2018. If the Company's shares are trading at a price below prevailing Net Asset Value ("NAV") per share on the days preceding the Scrip Share Reference Price calculation day (1 June 2018), such that the Scrip Share Reference Price would be at a discount to the prevailing NAV per share, the Directors may exercise their right to suspend the Scrip Dividend Alternative for the Q4 Dividend, pursuant to 2(b) of the Appendix to the Company's Scrip Dividend Circular 2017-18. In this case, all shareholders entitled to receive a dividend of 1.97 pence per share on the record date (25 May 2018) would receive their dividend in cash.

The Board will keep the Scrip Dividend Alternative under review each quarter, and shareholders who have previously completed a standing election (a "Scrip Dividend Mandate") to receive Scrip Shares are advised that their Scrip Dividend Mandate remains in place for future periods.

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