International Public Partnership Ld Issue of Equity (1505S)
17 December 2016 - 3:00AM
UK Regulatory
TIDMINPP
RNS Number : 1505S
International Public Partnership Ld
16 December 2016
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH
AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR
TO U.S. PERSONS. THE INFORMATION CONTAINED HEREIN DOES NOT
CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION.
16 December 2016
Issue of Equity
Further to the announcement of 12 December 2016, the Board of
Directors (the "Board") of International Public Partnerships
Limited (the "Company" and/or "INPP") is pleased to announce the
placing has closed, raising GBP75 million before costs and expenses
through the issue of 49,180,327 ordinary shares of 0.01p in the
capital of the Company (the "New Ordinary Shares") by way of tap
issuance (the "Issue").
The placing was significantly oversubscribed with demand from
existing and new investors.
The New Ordinary Shares will be issued at 152.5 pence per share,
which represents a discount of 4% to the closing price prior to the
fund raising announcement on 12 December 2016.
Commenting on the Issue, Chairman of INPP Rupert Dorey said: "We
are delighted to announce that the Company has raised GBP75 million
through a placement today, with the Issue being oversubscribed. The
net proceeds of the issue will be used to reduce the drawn element
of the Company's debt facility and to continue to bid for new
opportunities."
Application for listing and admission to trading
Application has been made for the New Ordinary Shares to be
admitted to the premium segment of the Official List and to trading
on the Main Market of the London Stock Exchange. It is expected
that dealings in the New Ordinary Shares will commence at 8.00 a.m.
on 21 December 2016.
Notification of Transaction by Persons Discharging Managerial
Responsibilities (PDMRs)
The Board announces that Giles Frost, a Director of the Company
and of Amber Infrastructure Limited, participated in the Issue and
will acquire 59,996 ordinary shares through a personal investment
vehicle of which Mr Frost is a beneficiary.
For further information:
Erica Sibree
Amber Fund Management Limited
+44 (0)20 7939 0558
Nick Westlake / Hugh Jonathan
Numis Securities Limited
+44 (0)20 7260 1000
IMPORTANT NOTICES
This Announcement contains Inside Information as defined under
the Market Abuse Regulation (EU) No. 596/2014.
This Announcement has been issued by and is the sole
responsibility of the Company.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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