Admission of New Ordinary Sha
HSBC Infrastructure Company Limited
C Shares Conversion Ratio and Admission of New Ordinary Shares to Official List and Trading on the London Stock Exchange
Further to its announcement dated 27 May 2008, HSBC Infrastructure Company Limited ('HICL' or the 'Company') is pleased to announce the following information in relation to the Conversion of its C Shares.
Conversion Ratio for C Shares
On the basis of the Net Asset Values of the Ordinary Shares and the C Shares as at the Calculation Time, being 23 May 2008, and calculated in accordance with the Company's prospectus dated 23 April 2008 (the 'Prospectus'), the Conversion Ratio for Conversion of the C Shares is 0.8143 Ordinary Shares for every one C Share.
On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 814 New Shares upon Conversion.
Fractions 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.
The 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.
Further details of the Conversion and rights attaching to the C Shares are set out in the Prospectus. Terms defined in the Prospectus have the same meaning in this announcement unless otherwise defined.
Admission to the Official List and to trading on the London Stock Exchange.
On the basis of the Conversion Ratio, application has been made to the UK Listing Authority for 84,361,480 New Shares to be admitted to the Official List. Application has also been made for the New Shares to be admitted to trading on the London Stock Exchange. It is expected that such admissions will become effective and that dealings in the New Shares will commence on 4 June 2008.
The C Shares will be permanently removed from trading on the London Stock Exchange with effect from the opening of trading at 8:00am on 4 June 2008.
Expected Timetable
The expected timetable for Conversion is as follows:
|
Record date for Conversion and C Share register closes |
3 June 2008 (close of business) |
|
Conversion Time and dealings in New Shares commence |
4 June 2008 |
|
Crediting of CREST accounts with New Shares |
4 June 2008 |
|
Share certificates in respect of New Shares despatched |
Week commencing 9 June 2008 |
Voting Rights and Capital
Effective from 4 June 2008, the Company's share capital will consist of 334,361,480 Ordinary Shares with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.
For further information, please contact:
|
HSBC Specialist Fund Management Limited Tony Roper Keith Pickard Sandra Lowe |
+44 (0) 20 7991 8888 |
|
Oriel Securities Limited Tom Durie Emma Ormond |
+44 (0) 20 7710 7600 |
|
Dresdner Kleinwort Securities Limited Dominic Waters Robbie Robertson David Yovichic |
+44 (0) 20 7475 6688 |
|
M: Communications Ed Orlebar Tilly von Twickel |
+44 (0) 20 7153 1530 |
The contents of this announcement have been prepared by and are the sole responsibility of HICL. Oriel Securities Limited ('Oriel Securities') and Dresdner Kleinwort Securities Limited ('Dresdner Kleinwort'), both of whom are regulated by the Financial Services Authority, are acting exclusively for HICL and no-one else and will not be responsible to anyone other than HICL for providing the protections afforded to the clients of Oriel Securities and Dresdner Kleinwort respectively, nor for affording advice in relation to, the contents of this announcement or any matter referred to herein.
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