Issue of Equity and Director/PDMR Shareholding

RNS Number : 2147W
Infrastructure India plc
15 April 2019
 

15 April 2019

 

Infrastructure India plc

("IIP", the "Company and together with its subsidiaries the "Group")

 

Management Agreement Fee Shares

 

Director/PDMR Shareholding

 

Infrastructure India plc, an AIM quoted infrastructure fund investing directly into assets in India, announced the terms of a revised and restated management and valuation and portfolio services agreement (the "Management Agreement") with the Company's existing asset manager, Franklin Park Management, LLC (the "Asset Manager") on 15 September 2016. Pursuant to the Management Agreement, the Asset Manager is to be issued with 605,716 new ordinary shares in the Company on 1 July each calendar year for the duration of the Management Agreement ("Annual Fee Shares").

 

The Company announces that it has today issued a total of 1,211,432 new ordinary shares in the Company to the Asset Manager (the "New Ordinary Shares"), being Annual Fee Shares which were due for issue by the Company to the Asset Manager on 1 July 2017 and 1 July 2018 and which have been pending issuance since those dates, as disclosed in the Company's annual and interim financial reports. A further 605,716 Annual Fee Shares are to be issued to the Asset Manager on 1 July 2019.

 

Following the issue of the New Ordinary Shares, the Asset Manager is now interested in a total of 1,211,432 ordinary shares in the Company, representing 0.18% of the Company's enlarged issued share capital, as enlarged by the issue of the New Ordinary Shares.

 

Tom Tribone, Sonny Lulla and Rob Venerus, each directors of the Company, collectively own the entire issued share capital of the Asset Manager.

 

Application has been made for the New Ordinary Shares, which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence on AIM on 23 April 2019.

 

From Admission, the Company will have 681,478,473 ordinary shares in issue with no ordinary shares held in treasury. This is the total number of voting rights in IIP and may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further details.

 

Enquiries:

 

Infrastructure India plc       

Sonny Lulla 

 

 

www.iiplc.com

 

 

 

 

 

Cenkos Securities plc

Nominated Adviser & Joint Broker

Azhic Basirov / Ben Jeynes

+44 (0) 20 7397 8900

 

 

 

 

Nplus1 Singer Advisory LLP

Joint Broker

James Maxwell - Corporate Finance

James Waterlow - Investment Fund Sales

 

+44 (0) 20 7496 3000

Novella

+44 (0) 20 3151 7008

Financial PR

 

Tim Robertson / Toby Andrews

 

 

 

 

 

 

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Thomas Anthony Tribone

2

Reason for the notification

a)

Position/status

PDMR (Director) - notification concerns the grant of new ordinary shares to an entity in which the PDMR is beneficially interested

b)

Initial notification/Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Infrastructure India plc

b)

LEI

213800M623GQQAG11656

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 1p each

 

Identification code

IM00B2QVWM67

b)

Nature of the transaction

Grant of new ordinary shares to an entity in which the PDMR is beneficially interested

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

£0.00

1,211,432

d)

Aggregated information

 

 

Aggregated volume

N/A - single transaction

 

Price

N/A - single transaction

e)

Date of the transaction

15 April 2019

f)

Place of the transaction

Outside of a trading venue

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Rahul (Sonny) Lulla

2

Reason for the notification

a)

Position/status

PDMR (Director) - notification concerns the grant of new ordinary shares to an entity in which the PDMR is beneficially interested

b)

Initial notification/Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Infrastructure India plc

b)

LEI

213800M623GQQAG11656

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 1p each

 

Identification code

IM00B2QVWM67

b)

Nature of the transaction

Grant of new ordinary shares to an entity in which the PDMR is beneficially interested

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

£0.00

1,211,432

d)

Aggregated information

 

 

Aggregated volume

N/A - single transaction

 

Price

N/A - single transaction

e)

Date of the transaction

15 April 2019

f)

Place of the transaction

Outside of a trading venue

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Robert Venerus

2

Reason for the notification

a)

Position/status

PDMR (Director) - notification concerns the grant of new ordinary shares to an entity in which the PDMR is beneficially interested

b)

Initial notification/Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Infrastructure India plc

b)

LEI

213800M623GQQAG11656

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of 1p each

 

Identification code

IM00B2QVWM67

b)

Nature of the transaction

Grant of new ordinary shares to an entity in which the PDMR is 24.5% beneficially interested

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

£0.00

1,211,432

d)

Aggregated information

 

 

Aggregated volume

N/A - single transaction

 

Price

N/A - single transaction

e)

Date of the transaction

15 April 2019

f)

Place of the transaction

Outside of a trading venue

 


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