Issue of Ordinary Shares

RNS Number : 9539J

HICL Infrastructure Company Ld

18 June 2014

 



HICL Infrastructure Company Limited

Issue of Ordinary Shares

18 June 2014

Further to its announcement of 16 June, the Board of HICL Infrastructure Company Limited (the "Company") is pleased to announce that the Company has raised gross proceeds of £50.7m through the issue for cash, subject to listing, of 37,039,192 Ordinary Shares of 0.01 pence each (the "New Ordinary Shares") in the Company (the "Issue"). The Issue Price per New Ordinary Share was 137.00 pence. The Issue was oversubscribed.

Application has been made for the New Ordinary Shares to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange. It is expected that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 23 June 2014.

Graham Picken, Chairman of HICL, said:

"The Board is very pleased by the strong response from investors to this tap issue, with demand significantly outstripping the amount of stock available. With the Company's net funding requirement now removed, it is well positioned to bid for additional investments in a competitive and disciplined manner whenever attractive opportunities arise."

Following the issue of the New Ordinary Shares, the Company's capacity to issue shares by way of tap has been almost fully utilised for the time being as a result of the limits under the Listing Rules, although this will increase again in early July, when the permissible figure will go up to 57,949,019 ordinary shares. It is the intention of the Board to utilise the tap issuance authority as and when the Directors deem appropriate, having regard in particular for the Company's net funding requirement at the time.

For further information, please contact:

InfraRed Capital Partners Limited	020 7484 1800
Tony Roper Keith Pickard Robin Hubbard
Canaccord Genuity Limited	020 7523 8000
Robbie Robertson Dominic Waters Neil Brierley Will Barnett Gavin Tooke David Yovichic Lucy Lewis
Tulchan Communications	020 7353 4200
Martha Walsh Victoria Huxster
Dexion Capital (Guernsey) Limited	01481 743943
Carol Kilby

 

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