Infrastructure India plc Notice of Results and Guidance (8926J)
16 December 2022 - 6:00PM
UK Regulatory
TIDMIIP TIDMTTM
RNS Number : 8926J
Infrastructure India plc
16 December 2022
16 December 2022
Infrastructure India plc
("IIP", the "Company" and, together with its subsidiaries, the
"Group")
Notice of Results and NAV Update
Infrastructure India plc, an AIM quoted infrastructure fund
investing directly into assets in India, announces that it expects
to publish its audited annual results for the 12 months ended 31
March 2022 ("Results"), in the latter half of December 2022. In
accordance with AIM's temporary measures for publication of annual
audited accounts, IIP was granted a three month extension to the
deadline for publishing its Results, as announced on 14 September
2022.
The Board of IIP currently expect to report a net liability
position for the year ended 31 March 2022. This was based on agreed
preliminary terms with a third party and the ascribed net minimum
consideration for IIP's largest holding, Distribution Logistics
Infrastructure Limited ("DLI"). The proposed transaction is
structured in two parts, with a deferred, performance-based, and
contingent consideration, which does not contribute to the assigned
DLI asset value and which the Directors expect to have a positive
impact on net assets in due course. The Board will be making
further announcements as and when appropriate.
The Board has been active in securing sources of financing to
ensure the Group has adequate funding to continue to meet
liabilities as they fall due and, as announced, this includes asset
sales. As a result of this process, the Group has prepared the
accounts on a basis other than going concern due to the uncertainty
in relation to transaction timing, ultimate receipt of sale
proceeds and the specifics of any deferred consideration. This
basis was considered the most appropriate method for the reporting
period and this was agreed with its auditors.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended.
Enquiries:
Infrastructure India plc www.iiplc.com
Sonny Lulla Via Novella
Strand Hanson Limited
Nominated Adviser
James Spinney / James Dance +44 (0) 20 7409 3494
Singer Capital Markets
Broker
James Maxwell - Corporate Finance
James Waterlow - Investment Fund Sales +44 (0) 20 7496 3000
Novella
Financial PR
Tim Robertson / Safia Colebrook +44 (0) 20 3151 7008
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END
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