HICL Infrastructure Regulatory News (HICL)

13 Aug 2007 09:44

HSBC Infrastructure Company Limited13 August 2007 HSBC Infrastructure Company Ltd INTERIM MANAGEMENT STATEMENT3 Month Period to 30 June 2007 Trading HSBC Infrastructure Company Limited (the "Company") has seen its portfolio of 17infrastructure and PFI investments continue to perform in line withexpectations. There are no material operational issues to report which mightimpact on the valuation of the Company's investments. HSBC Specialist Fund Management Ltd ("HSFML"), in its capacity as InvestmentAdviser to the Company and Operator of the Company's partnership, is continuingits work to optimise the returns from each investment, in line with thestatements made in the Company's report and financial statements for the periodto 31 March 2007. The Investment Adviser continues to seek suitable new infrastructure assets toacquire, provided they can be purchased at reasonable prices and meet theCompany's Investment Policy, details of which can be found on the Company'swebsite: www.hicl.hsbc.com HSFML Resources The Investment Adviser has recently recruited Keith Pickard to join the team asPortfolio Director in relation to the Company's portfolio. Keith previouslyworked at John Laing PLC, and his responsibilities will include delivering therefinancing proposed for certain projects in the portfolio and the regularvaluations of the portfolio. The team dedicated to advising the Company is nowsix strong. Valuation of the Portfolio Since the valuation of the portfolio at 31 March 2007, the 20 year Treasury Gilthas risen in rate from 4.7% to 5.3%. This suggests that the discount rates usedto value the portfolio should be trending upwards but the Investment Adviserhass yet to see clear evidence that this is happening in the market for theseassets, suggesting the risk premium over the Gilt may, for the time being, havereduced further. Financial Calendar The Company intends to announce its interim results for the 6 months to 30September, including a valuation of the portfolio, on Tuesday 20 November 2007. The planned timetable is: Announcement of interim results Tuesday 20 November 2007Ex-dividend date Wednesday 28 November 2007Record date Friday 30 November 2007Payment date Friday 28 December 2007 For further information please contact: HSBC Specialist Fund Management Limited 020 7991 8888Tony RoperSandra Lowe M: Communications 020 7153 1530Ed OrlebarTilly von Twickel Notes to Editors HSBC Infrastructure Company Limited The Company is a long term investor in infrastructure projects which arepredominantly in their operating phase and yielding steady returns. It was thefirst infrastructure investment company to be listed on the London StockExchange. It manages a portfolio of mostly operational infrastructure projectsand seeks to acquire further investment opportunities. The Investment Adviser to the Company is HSBC Specialist Fund ManagementLimited, whose infrastructure investment team has successfully invested ininfrastructure projects since 1997. This information is provided by RNS The company news service from the London Stock Exchange