HICL Infrastructure Regulatory News (HICL)

15 March 2019

HICL Infrastructure Company Limited

Service Provision Continuity 

HICL Infrastructure Company Limited ("HICL" or the "Company" and, together with its subsidiaries, the "Group"), the listed infrastructure investment company advised by InfraRed Capital Partners Limited ("InfraRed"), notes today's announcement from Interserve plc ("Interserve") regarding its intention to apply to the High Court in London to be placed into administration.

Interserve provides facilities management services to four operational PPP project companies in which HICL has invested, representing less than 2% of Portfolio Value at 30 September 2018. The Company expects that Interserve entering into administration will have an impact of less than 0.25% on the Company's most recently reported NAV (as at 30 September 2018).

The Company's overriding priority is to protect the delivery of the services that ensure the availability of critical infrastructure to stakeholders, including public sector clients and the users of the facilities that form part of the relevant PPP projects. InfraRed has been working for some time with co-shareholders and public sector clients at each affected asset to ensure contingency arrangements are developed in anticipation of the current situation. These contingency plans have been activated and the InfraRed Asset Management Team is working in conjunction with key stakeholders to ensure continuity of service provision at the affected PPP projects.

Interserve was also the original construction contractor for one project but does not provide the facilities management services in respect thereof. There are no known material unresolved construction defects at this asset.

Further updates will be provided as part of the Company's regular reporting to shareholders.

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Enquiries

InfraRed Capital Partners Limited +44 (0) 20 7484 1800

Harry SeekingsKeith Pickard

Tulchan Communications +44 (0) 20 7353 4200

David Allchurch

Sheebani Chothani

Canaccord Genuity Limited +44 (0) 20 7523 8000

David Yovichic

 HICL Infrastructure Company Limited

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "HICL Group") is a long-term investor in infrastructure assets which are predominantly operational and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange.

With a current portfolio of 117 infrastructure investments, HICL is seeking further suitable opportunities, which are positioned at the lower end of the risk spectrum, in three target markets segments: PPP projects; regulated assets; and demand-based assets.

Further details can be found on the HICL website www.hicl.com.

Investment Adviser (InfraRed Capital Partners)

The Investment Adviser to HICL is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in over 200 infrastructure projects since 1997. InfraRed is a leading international investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney. With over 140 professionals it manages in excess of US$10bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of over 75 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.

Further details can be found on InfraRed's website www.ircp.com.