REG - Digital 9 Infrastr. - Completion of EMIC-1 transaction

Digital 9 InfrastructureAnnouncement

29/05/2025 07:30

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RNS Number : 4727K  Digital 9 Infrastructure PLC  29 May 2025

 

29 May 2025

 

DIGITAL 9 INFRASTRUCTURE PLC

 

("D9" or the "Company" and, together with its subsidiaries, the "Group")

 

 Completion of EMIC-1 transaction for US$43m (c. £32m) and partial RCF
repayment

 

The Board of D9 (the "Board") is pleased to announce that it has completed the
divestment of the Company's entire stake in EMIC-1 (the "Project") for a final
consideration of US$43m (c. £32m(1)), net of the US$2.6m previously announced
transaction costs.  The final consideration is c. US$1m higher than the
consideration communicated by the Company in the announcement on 31 December
2024, due to the closing adjustment mechanism. Completion follows the
satisfaction of all closing conditions with the buyer under the divestment
agreement.

 

The proceeds of the EMIC-1 completion in addition to the release of c. US$10m
(c. £7m(1)) of additional construction commitments on the Project, will allow
the Company to significantly deleverage its balance sheet and repay £40m of
the Revolving Credit Facility ("RCF") imminently. The remaining RCF balance of
£13m, is expected to be repaid from further divestment proceeds and working
capital surpluses in due course.

 

(1) GBP amounts based on a 1.35 USD/GBP exchange rate as of 23 May 2025.

 

 

ENDS.

 

 

 

 

 

 

 

Contacts

 Digital 9 Infrastructure plc                                                                             via FTI

                                                                                                        Consulting
 Eric Sanderson

 InfraRed Capital Partners Limited                                                                        +44 (0) 207 484 1751

 James O'Halloran

 Mohammed Zaheer
 Panmure Liberum Limited (Financial Adviser to the Company)                                               +44 (0) 203 100 2222

 Chris Clarke

 Darren Vickers
 J.P. Morgan Cazenove (Corporate Broker)                                                                  +44 (0) 20 7742 4000

 William Simmonds

 Jérémie Birnbaum
 FTI Consulting (Communications Adviser)                                                                  dgi9@fticonsulting.com (mailto:dgi9@fticonsulting.com)

 Mitch Barltrop                                                                                           +44 (0) 7807 296 032

 Maxime Lopes                                                                                             +44 (0) 7890 896 777

 

LEI Code: 213800OQLX64UNS38U92

 

 

About Digital 9 Infrastructure plc

 

Digital 9 Infrastructure plc (DGI9) is an investment trust listed on the
London Stock Exchange and a constituent of the FTSE All-Share, with the ticker
DGI9. The Company's investment objective is to undertake a Managed wind-down
of the Company and realise all existing assets in the Company's portfolio in
an orderly manner. For more information, please visit www.d9infrastructure.com
(http://www.d9infrastructure.com) .

 

About InfraRed Capital Partners (Investment Manager to D9 to effect the
wind-down)

 

InfraRed was appointed as AIFM on 11 December 2024 to effect the managed
wind-down of D9.

 

InfraRed manages US$13bn of equity capital(2) for investors around the globe,
in listed and private funds across both core and value-add strategies.

InfraRed combines a global reach, operating worldwide from offices in London,
Madrid, New York, Sydney and Seoul, with deep sector expertise from a team of
more than 160 people.

InfraRed is part of SLC Management, the institutional alternatives and
traditional asset management business of Sun Life, and benefits from its scale
and global platform.

For more information, please visit www.ircp.com (http://www.ircp.com) .

(2) Uses 5-year average FX as at 30th September 2024 of GBP/USD of 1.2827;
EUR/USD 1.1123. EUM is USD 12.803m

 

 

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