HICL Infrastructure Regulatory News (HICL)

HICL Infrastructure Company Limited

21 March 2013

Not for publication, release of distribution in whole or in part in Australia, Canada, South Africa, Japan or the United States

Preliminary Results of Placing, Open Offer and Offer for Subscription of New Ordinary Shares

The Board of HICL Infrastructure Company Limited ("HICL") is pleased to announce that the Placing, Open Offer and Offer for Subscription of New Ordinary Shares (the 'Issue') has now closed and that, on the basis of applications received through the Open Offer and Offer for Subscription and of orders taken through the Placing, both the Issue's target size of 100 million Ordinary Shares (raising gross proceeds of £119.5 million) and its maximum potential size of 140 million Ordinary Shares (raising gross proceeds of £167.3 million) have been comfortably exceeded.

In accordance with the terms and conditions of the Issue, all applications made pursuant to Open Offer entitlements will be met in full. The Board is, in conjunction with its advisers, considering the basis upon which applications made pursuant to the Placing, the Offer for Subscription and (to the extent it is relevant) the Excess Application Facility should be scaled back given the high level of oversubscription in respect of the Issue.

The Board has consulted with the Investment Adviser, InfraRed Capital Partners Limited, on the Additional Investments which would allow the size of the Issue to be increased. As a result, the Board has decided that the overall size of the Issue will be set at its maximum of 140 million New Ordinary Shares.

A further announcement providing details of the basis upon which New Ordinary Shares will be allotted will be made on Friday 22 March 2013.

For further information, please contact: 

Terms in this announcement shall have the same meaning as defined in the prospectus issued by HICL dated 26 February 2013.

Canaccord Genuity Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for the Company and for no one else in connection with the Issue and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Canaccord Genuity Limited or for affording advice in relation to the Issue, or any other matters referred to herein.