REG - GCP Infra Inv Ltd - Quarterly investor update

GCP Infrastructure InvestmentsAnnouncement

09/05/2023 07:15

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RNS Number : 6472Y  GCP Infrastructure Investments Ltd  09 May 2023

GCP Infrastructure Investments Limited

("GCP Infra" or the "Company")

LEI 213800W64MNATSIV5Z47

 

Quarterly investor update

 

9 May 2023

 

GCP Infra is pleased to announce the publication of its investor report, which
is available at https://www.graviscapital.com/funds/gcp-infra/literature
(https://www.graviscapital.com/funds/gcp-infra/literature) .

 

At 31 March 2023:

 

·    The net asset value was, as previously announced, 112.24 pence per
ordinary share;

·    The Company was exposed to a diversified and partially inflation
protected portfolio of 49 investments with an unaudited valuation of £1.1
billion; and

·    The portfolio had a weight-adjusted average annualised yield of 7.9%,
principal outstanding of £1.0 billion and an average life of ten years.

 

In the quarter to 31 March 2023, the Company made two investments totalling
£10.5 million in the electric vehicle sector, further diversifying the
Company's portfolio. This included a new investment of £7.3 million through a
senior loan to finance the purchase of a fleet of electric taxis and a
follow-on investment of £3.2 million to grow an existing fleet.

 

Share buyback programme

On 14 March 2023 the Company announced a proactive programme of share buybacks
in response to the persistent discount at which the Company's share price is
trading relative to the published net asset value. The Company remains
committed to pursuing buyback opportunities in line with the strategy that has
been set out previously, and to benefit from the investment opportunity that
the Company's shares offer at the current price.

 

Investor events

The Board, and Gravis, are available to meet with the Company's shareholders.
Gravis has scheduled an investor day at the Birmingham Biopower Limited waste
wood biomass project on the 23 May 2023, which investors are welcome to
attend.

 

Gravis will be holding a webinar on 15 May 2023 at 11.00am to provide more
detail on the portfolio. For investors interested in joining either event,
please e-mail zoe.french@graviscapital.com.

 

For further information, please contact:

 

 Gravis Capital Management Limited             +44 (0)20 3405 8500

 Philip Kent

 Ed Simpson

 Max Gilbert

 Stifel Nicolaus Europe Limited                +44 (0)20 7710 7600

 Edward Gibson-Watt

 Jonathan Wilkes-Green

 Buchanan/Quill                                +44 (0)20 7466 5000

 Helen Tarbet

 Sarah Gibbons-Cook

 Henry Wilson

 

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.

 

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