REG - HICL Infrastructure - Update on Share Buyback Programme

HICL InfrastructureAnnouncement

03/03/2025 07:15

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RNS Number : 0523Z  HICL Infrastructure PLC  03 March 2025

3 March 2025

HICL Infrastructure PLC

 

"HICL" or the "Company" and, together with its corporate subsidiaries(1), 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 (mailto:info@hicl.com)

Edward Hunt

Mark Tiner

Mohammed Zaheer

 

Brunswick
 
+44 (0) 20 7404 5959 / hicl@brunswickgroup.com
(mailto: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
(http://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
(http://www.ircp.com/) .

 

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