3 March 2025
HICL Infrastructure
PLC
"HICL" or the "Company" and, together with its corporate
subsidiaries1, the "Group", the
London-listed infrastructure investment company managed by InfraRed
Capital Partners Limited ("InfraRed" or the "Investment
Manager").
Update on Share Buyback
Programme
HICL is
pleased to have announced the expansion of its buyback programme by
a further £100m in the Company's Interim
Update Statement and Capital Allocation Update released on 3 March
2025. This builds
on the initial £50m share buyback programme which completed last
week.
Details of the share buyback
Programme
The Programme will commence today
and end no later than 31 December 2025, subject to market
conditions. The purpose of the Programme is to reduce the issued
share capital of the Group. Shares purchased by the Company will be
held in Treasury. Treasury shares are not entitled to dividends and
have no voting rights at general meetings. The Programme will be
executed under the authority granted by shareholders at the HICL
annual general meeting on 17 July 2024 to acquire up to 304,520,060
shares, equating to c.14.99% of the issued share capital at the
time. In addition, the Company intends to propose a resolution to
refresh the share buyback authority at its 2025 annual general
meeting.
The Group is entering into a
non-discretionary arrangement with Investec Bank plc and RBC Europe
Limited which will enable the purchase of ordinary shares for the
Programme to continue through close periods. Any purchase of shares
during a closed period pursuant to the Programme will be made
independently of the Company.
Any purchase of Ordinary Shares
pursuant to the Programme will be announced no later than 7:30 a.m.
on the business day following the calendar day on which the
purchase occurs.
The Programme will be conducted
within certain pre-set parameters including those prescribed by the
Market Abuse Regulation 596/2014 (as it forms part of domestic law
by virtue of section 3 of the European Union (Withdrawal) Act 2018
(as amended)) and Chapter 12 of the Listing
Rules.
The Board will keep the programme
under regular review and continue to assess it against its capital
allocation priorities in light of the then market conditions and
opportunities.
- Ends -
1. The Corporate subsidiaries are
Infrastructure Investments Limited Partnership and HICL
Infrastructure 2 s.a.r.l., as disclosed in HICL's Annual Report and
Accounts 2024
Enquiries
InfraRed Capital Partners Limited
+44 (0) 20 7484 1800 / info@hicl.com
Edward Hunt
Mark Tiner
Mohammed Zaheer
Brunswick
+44 (0) 20 7404 5959 /
hicl@brunswickgroup.com
Sofie Brewis
Investec Bank plc
+44(0) 20 7597 4952
David Yovichic
RBC
Capital Markets
+44 (0) 20 7653 4000
Matthew Coakes
Elizabeth Evans
Aztec Financial Services (UK)
Limited
+44(0) 203 818 0246
Chris Copperwaite
Sarah Felmingham
HICL Infrastructure PLC
HICL Infrastructure PLC ("HICL") is
a long-term investor in infrastructure assets which are
predominantly operational and yielding steady returns. It was the
first infrastructure investment company to be listed on the London
Stock Exchange.
With a current portfolio of over 100
infrastructure investments, HICL is seeking further suitable
opportunities in core infrastructure, which are inherently
positioned at the lower end of the risk spectrum.
Further details can be found on the
HICL website www.hicl.com.
Investment Manager (InfraRed Capital
Partners)
The Investment Manager to HICL is
InfraRed Capital Partners Limited ("InfraRed") which has
successfully invested in infrastructure projects since 1997.
InfraRed is a leading international investment manager, operating
worldwide from offices in London, New York, Seoul, Madrid and
Sydney and managing equity capital in multiple private and listed
funds, primarily for institutional investors across the globe.
InfraRed is authorised and regulated by the Financial Conduct
Authority.
The infrastructure investment team
at InfraRed consists of over 100 investment professionals, all with
an infrastructure investment background and a broad range of
relevant skills, including private equity, structured finance,
construction, renewable energy and facilities
management.
InfraRed implements best-in-class
practices to underpin asset management and investment decisions,
promotes ethical behaviour and has established community engagement
initiatives to support good causes in the wider community. InfraRed
is a signatory of the Principles of Responsible
Investment.
Further details can be found on
InfraRed's website www.ircp.com.
