Infra.india Regulatory News (IIP)

29 Oct 2009 07:00



Infrastructure India plc

Update - Potential Investment Opportunity and Corporate Alliance

Following the announcement on 29 July 2009 of the financial results for Infrastructure India plc ("IIP" or the "Company") for the financial period ending 31 March 2009, the Board is pleased to provide an update on recent discussions and progress.

The Board has entered into active discussions with regard to making a potential further investment in the transportation sector which, whilst of modest size in itself, would represent the first step in the development of a new strategic corporate relationship with a well-established  Indian infrastructure developer and operator with a track record over many years. 

The potential investment relates to the development of an integrated transport and logistics facility which will provide infrastructure support to enable the orderly movement and management of goods and cargo to end customers.

From the time of the Company's flotation in 2008, and despite the ensuing global economic downturn, it has remained an objective of the Board working with its partners and advisers, to strengthen the depth of IIP's relationships with relevant counterparties within the Indian infrastructure market.

In conjunction with the announcement of the potential corporate relationship, and to fund the potential investment, the Company would seek to raise funds by way of a pre-emptive equity offer to shareholders.

However, there can be no certainty that either the investment, the strategic corporate relationship or the pre-emptive equity offer will proceed.

A further announcement will be made in due course.

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