Results of Placing

22 March 2013

Not for publication, release or distribution in whole or in part in Australia, Canada, Japan, South Africa or the United States

HICL INFRASTRUCTURE COMPANY LIMITED

Results of the Placing, Open Offer and Offer for Subscription of Ordinary Shares

The Board of HICL Infrastructure Company Limited (the 'Company') is pleased to announce the results of the Placing, Open Offer and Offer for Subscription of Shares (the 'Issue'). As the Board announced on 21 March, the Issue, which was confirmed at £167.3m in size, was significantly oversubscribed and accordingly a partial scaling back has been applied to applications received.

A total of 140,000,000 Shares will be issued at a price of 119.5 pence per Share, of which 61,968,542 Shares will be issued pursuant to the Open Offer, 9,558,673 Shares will be issued pursuant to the Offer for Subscription and 68,472,785 Shares will be issued under the Placing. 

Graham Picken, Chairman of HICL, said:

"We are delighted with the success of the offer which was significantly oversubscribed. In light of the current pipeline of advanced-stage acquisition opportunities, the Board is pleased to confirm the size of the Issue at £167.3m. We regard this successful capital raising as an endorsement of the Company's strategy and track record of successful delivery. The strong demand also reflects the growing importance of infrastructure as an asset class".

Open Offer

Applications under the Open Offer, pursuant to which an aggregate amount of 65,090,675 Shares was made available to Existing Shareholders, totalled 61,968,542 Shares (including applications under the Excess Application Facility), and accordingly all such applications will be met in full. 

Offer for Subscription

Applications under the Offer for Subscription amounted to 9,558,673 Shares. All applications under the Offer for Subscription will be met in full.

Placing

Commitments under the Placing will be scaled back having regard to the principle set out in the Prospectus that preference should be given to earlier applications received.

The net proceeds of the Issue will be used to meet the Company's funding requirements, to reduce outstanding Group Debt and to provide the Group with further resources to make the Additional Investments identified by the Investment Adviser.

Application has been made for the Shares to be admitted to the Official List of the UK Listing Authority and to trading on the standard segment of the Main Market of the London Stock Exchange.

The International Security Identification Number for the Shares is GG00B0T4LH64 and the TIDM is HICL.

Canaccord Genuity Limited acted as Placing Agent. 

Expected timetable

Defined words and terms used in this announcement shall have the same meaning as ascribed to them in the Company's prospectus dated 26 February 2013.

Enquiries:

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.