Investment holding in RiverCity Motorway
28th February 2011
INTERNATIONAL PUBLIC PARTNERSHIPS LIMITED
Investment holding in RiverCity Motorway
International Public Partnerships Limited ("the Company") notes the announcement made on 25th February 2011 by RiverCity Motorway Pty Limited (a company listed on the Australian Stock Exchange) that KordaMentha had been appointed as receiver and managers to the RiverCity Motorway group. The Company holds a 3.82% interest in RiverCity Motorway Pty Limited. As at 31st December 2010 the Company valued this holding on a mark to market basis at less than £220,000, which represented less than 0.1% of the Company's portfolio. The Company awaits further information but has been monitoring this position for some time and is unsurprised by this development. The RiverCity Motorway project differs from the remainder of the Company's portfolio in that revenues generated by the project are based on the level of demand for that asset (i.e. motorists paying a toll) rather than the availability of the asset, the latter being the basis upon which the remainder of the portfolio's revenues are received and which is uncorrelated to the level of demand for an asset..
For further information:
Bianca Francis +44 (0)20 7939 0558
Amber Fund Management Limited
Nick Westlake/Hugh Jonathan +44 (0)20 7260 1345/1263
Numis Securities
Ed Gascoigne-Pees/Ed Berry +44 (0)20 7269 7132/7297
Financial Dynamics
Notes to Editors:
About International Public Partnerships (INPP):
International Public Partnerships Limited (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP) and private finance initiative (PFI) procurement methods.
Listed in 2006, INPP is a long-term investor in 55 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters and transport projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term government-backed yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.
Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and consists of more than 50 dedicated infrastructure specialists which originate and source a strong pipeline of projects for INPP.
This information is provided by RNS