GCP
Infrastructure Investments Limited
("GCP Infra"
or the "Company")
LEI
213800W64MNATSIV5Z47
Quarterly investor
update
This is a correction of the
announcement published on 13 November 2024 at 7:00 a.m. (RNS
Number: 9071L), which incorrectly stated the publication is
available at www.gcpinfra.com instead of
https://www.graviscapital.com/funds/gcp-infra/literature.
All
other details remain unchanged. The full corrected announcement is
set out below.
13 November
2024
GCP Infra is pleased to announce the
publication of its investor report, which is available at
https://www.graviscapital.com/funds/gcp-infra/literature.
At 30 September 2024:
· The net asset value was, as previously
announced, 105.22 pence per ordinary share;
· The Company was exposed to a diversified
and partially inflation protected portfolio of 50
investments with an unaudited valuation of £1.0 billion;
and
· The portfolio had a weight-adjusted average
annualised yield of 7.8%, principal
outstanding of £1.0 billion and an average life of 11
years.
In December 2023, the Company
announced its intention to recycle £150 million of assets as part
of a capital allocation programme (the "Programme"). To date, the
Company has announced c. £31 million of realisations. The proceeds
of the Programme are intended to: (i) repay the Company's
borrowings; and (ii) return a minimum of £50 million to
shareholders.
The Company is in active due
diligence and negotiations on disposals of material components of
its investment portfolio and does not wish to risk such processes
through publication of further detail on the constituent movements
in the NAV since 30 June 2024. Further attribution of the NAV
movements will be published as part of the Company's forthcoming
annual report and accounts, due to be published in
December.
During the quarter there was a net
repayment of the Company's revolving credit facility, and at 30
September 2024, the Company had £57 million (30 June 2024: £65
million) outstanding, representing a net debt position of c. £45
million (30 June 2024: c. £51 million).
For further information, please
contact:
|
Gravis Capital Management Limited
Philip Kent
Max Gilbert
Cameron Gardner
|
+44 (0)20
3405 8500
|
|
RBC Capital Markets
Matthew Coakes
Elizabeth Evans
|
+44 (0)20
7653 4000
|
|
Stifel Nicolaus Europe Limited
Edward Gibson-Watt
Jonathan Wilkes-Green
|
+44 (0)20
7710 7600
|
|
Burson
Buchanan
Helen Tarbet
Henry Wilson
Samuel Adams
|
+44 (0)20
7466 5000
|
Notes to the Editor
About GCP Infra
GCP Infra is a closed-ended
investment company and FTSE-250 constituent, its shares are traded
on the main market of the London Stock Exchange. The Company's
objective is to provide shareholders with regular, sustained,
long-term distributions and to preserve capital over the long term
by generating exposure to UK infrastructure debt and related and/or
similar assets.
The Company primarily targets
investments in infrastructure projects with long term, public
sector-backed, availability-based revenues. Where possible,
investments are structured to benefit from partial inflation
protection. GCP Infra is advised by Gravis Capital Management
Limited.
GCP Infra has been awarded
with the London Stock Exchange's Green Economy
Mark in recognition of its contribution to positive environmental
outcomes.
