Progress Since Launch

4 Oct 2007 13:07

PME African Infrastructure Opps PLC04 October 2007 4 October 2007 PME African Infrastructure Opportunities plc("PMEA" or "the Company") Update on Progress Since Launch PME African Infrastructure Opportunities plc (Ticker: PMEA (ordinary shares),PMEW (warrants)), the AIM listed fund investing in infrastructure projectsacross sub-Saharan Africa, announces an update on progress since admission on 12July 2007. Five of the potential projects listed in the pipeline in the Admission Documenthave been, or are in the process of being subjected to due diligence. Of these,two in the Energy and Telecommunications sectors received board approval toinvest funds, subject to certain conditions. In one of these two situations,PMEA was outbid by an Indian Fortune 500 company which had already conductedseveral months of due diligence on the opportunity. However, in the second,various approvals comprising the aforementioned conditions precedent are inprocess. The three remaining projects are looking positive and it is likely thatat least one of them will progress to an investment proposal being submitted tothe Board of PMEA for consideration. In addition to the pipeline contained in the Admission Document, a further nineopportunities, across the Real Estate, Transportation, Energy andTelecommunications sectors have been reviewed. Of these, six have warrantedfurther examination as they appear to meet PMEA's investment criteria. PME Investment Managers Limited, the Company's Investment Manager, continues tostrengthen its team with the addition of two investment professionals at PMEInfrastructure Advisors Limited, its London based subsidiary and advisor, at thebeginning of August. The two professionals have a combined forty years ofexperience in investment banking and infrastructure related transactions, bothin developed and emerging markets. Their experience spans sectors includingEnergy, Transportation, Water and Telecommunications. For further information, please contact: Azhic BasirovSmith & Williamson Corporate Finance Limited 020 7131 4000 James KingFairfax I.S. PLC 020 7598 4078 Anne DalenPrinciple Capital on behalf ofPME Infrastructure Managers Limited 020 7240 3222 Notes to editors: - PME African Infrastructure Opportunities plc is an Isle of Man company with aninvestment objective to achieve significant total return to investors throughinvesting in various infrastructure projects and related opportunities across arange of countries in sub-Saharan Africa. - The Company listed on AIM on 12 July 2007, raising US$180.45 million (before expenses) through a placing of shares. - PME Infrastrucuture Managers Limited ("PMEIML") is the Investment Manager andis responsible for sourcing investment opportunities for the Company. PMEIML isa joint venture between the Principle Capital Group (a group of companiesspecialising in alternative investment management, the holding company of whichis Principle Capital Holdings S.A. (AIM: PCX)), Dunkeld Trust, SonriseInvestment Limited and Unicos Partners LLP. This information is provided by RNS The company news service from the London Stock Exchange