C Share Conversion Ratio and Admission
25 April 2012
HICL INFRASTRUCTURE COMPANY LIMITED
C Share Conversion Ratio and Admission of New Ordinary Shares
Further to its announcement of 20 April 2012, the Board of HICL Infrastructure Company Limited (the 'Company') is pleased to announce the following information in relation to the conversion of its C Shares.
Conversion Ratio for C Shares
The Net Asset Values as at the Calculation Time (being 20 April 2012) for an Ordinary Share and a C Share were 113.2p and 98.77p respectively. Accordingly, the Conversion Ratio for conversion of the C Shares, as calculated in accordance with the Company's prospectus dated 29 February 2012 (the 'Prospectus'), is 0.8722 of an Ordinary Share for every one C Share held.
The Net Asset Value of an Ordinary Share at 20 April 2012 is higher than the Net Asset Value of an Ordinary Share as at 31 March 2012 reflecting accrued income for the 20 day period.
On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 872 new Ordinary Shares upon Conversion.
Entitlements will be rounded down to the nearest whole share. Any fractional entitlements will be aggregated and sold in the market for the benefit of the Company.
Ordinary Shares arising on Conversion will rank pari passu with, and will have the same rights as, the Ordinary Shares of the Company already in issue. For the avoidance of doubt, new Ordinary Shares will not be entitled to the dividend declared prior to Conversion on 12 April 2012 for the financial year ended 31 March 2012.
Further details of the Conversion and rights attaching to the C Shares are set out in the Prospectus.
Admission to the Official List and to trading on the Main Market of the London Stock Exchange
On the basis of the Conversion Ratio, application has been made to the UK Listing Authority for 218,050,000 New Shares to be admitted to the Official List and to the London Stock Exchange for the New Shares to be admitted to trading. It is anticipated that such admission will become effective, and that dealings in the New Shares will commence, on 27 April 2012.
Cancellation of C Shares
The C Shares will be permanently removed from trading on the London Stock Exchange with effect from the opening of trading at 8.00 a.m. on 27 April 2012.
Expected timetable
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Record date for Conversion and C Share register closes |
Close of business on 26 April 2012
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Dealings in new Ordinary Shares commence |
27 April 2012
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Crediting of CREST accounts with new Ordinary Shares |
27 April 2012
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Share certificates in respect of new Ordinary Shares despatched |
Week commencing 30 April 2012
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Defined words and terms used in this announcement shall have the same meaning as ascribed to them in the Prospectus.
Enquiries:
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InfraRed Capital Partners Limited |
020 7484 1800 |
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Tony Roper |
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Keith Pickard |
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Sandra Lowe |
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Canaccord Genuity Limited |
020 7523 8000 |
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Robbie Robertson |
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David Yovichic |
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Lucy Lewis |
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Dominic Waters |
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Neil Brierley |
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Will Barnett |
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Tulchan Communications |
020 7353 4200 |
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Ed Orlebar |
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Rebecca Scott |
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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, the contents of this announcement or any other matters referred to herein.
This information is provided by RNS
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