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Pin to quick picksInternational Public Partnerships Regulatory News (INPP)

Share Price Information for International Public Partnerships (INPP)

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140.80    -1.20 (-0.85%)
Bid:
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Spread: 0.20 (0.142%)
Market Cap: £2.52b
INPP Live PriceLast checked at - London Stock Exchange

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Further Update Regarding Exposure to Carillion Plc

26 Jan 2018 15:00

RNS Number : 0977D
International Public Partnership Ld
26 January 2018
 

FURTHER UPDATE REGARDING EXPOSURE TO CARILLION PLC

 

26 January 2018

 

International Public Partnerships Limited ('the Company', 'INPP'), the listed infrastructure investment company, notes recent market commentary regarding the impact of the liquidation of Carillion plc ('Carillion').

 

INPP reiterates the comment made in its 15 January 2018 statement that the Company does not currently believe that the liquidation of Carillion is likely to have any significant valuation impact on the Company but that it will continue to monitor and manage the situation as it evolves.

 

Since 15 January the Company has made good progress on the transition of projects managed by Carillion Services Limited ('Carillion FM') to alternative providers and continues to expect this to occur on similar terms to its existing contracts. While the Company expects to incur modest transaction costs it does not currently anticipate any significant consequential valuation or cashflow impact. While such transfers are not yet completed (and delay in or failure to complete such transfers might change this estimate) the Company currently anticipates that the impact of these items is likely to be less than £1.5m (before any offset applicable in respect of funds held by the Company that are owed to Carillion).

 

INPP advises that facilities management services are provided by Carillion FM to c.3% (by investment fair value) of the Company's portfolio. A £1.5m impact on net asset valuation equates to approximately one tenth of a penny per share.

 

For further information:

 

Erica Sibree +44 (0)20 7939 0558

Amber Fund Management Limited

 

Hugh Jonathan +44 (0)20 7260 1263

Numis Securities

 

Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039FTI Consulting

Notes to Editors:

About International Public Partnerships:

 

International Public Partnerships ('INPP') is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships ('PPP'), regulated asset and other similar procurement methods.

 

Listed in 2006, INPP is a long-term investor in 128 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the UK, Europe, Australia and North America.

 

INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases typically of 25-40 year concessions.

 

Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists over 100 dedicated staff who manage, advise on and originate investments for INPP.

 

Visit the INPP website at www.internationalpublicpartnerships.com for more information.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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