HICL Infrastructure Regulatory News (HICL)

HICL Infrastructure Company Limited

Issue of Ordinary Shares

22 March 2016

Further to its announcement of 18 March 2016, the Board of HICL Infrastructure Company Limited (the "Company") is pleased to announce that the Company has raised gross proceeds of approximately £36.0m through the issue for cash, subject to listing, of 23,053,565 Ordinary Shares of 0.01 pence each (the "New Ordinary Shares") in the Company (the "Issue"). The Issue Price per New Ordinary Share was 156.0 pence.

The Issue was materially oversubscribed. In light of the Company's current investment pipeline the size of the Issue was therefore increased from its initial target of £25m.

Following the issue of the New Ordinary Shares, the Company will have authority to issue a further 9,696,131 Ordinary Shares by way of tap on a non pre-emptive basis. It is the intention of the Board to utilise that remaining authority, if appropriate, in order to address any future net funding requirement and/or to provide a degree of premium control. The Board will seek to renew the pre-emption disapplication authority, for an amount equal to 10 per cent. of issued share capital, at the next Annual General Meeting of the Company, to be held in July of this year.

Application has been made for the New Ordinary Shares to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange. It is expected that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 24 March 2016.

Following the issue of the New Ordinary Shares, the total number of voting rights in the Company will be 1,387,368,462. 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 FCA's Disclosure and Transparency Rules.

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