REG - Infrastructure India - DLI Asset Update

Infrastructure IndiaAnnouncement

15/04/2024 08:00

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RNS Number : 5932K  Infrastructure India plc  15 April 2024

15 April 2024

 

Infrastructure India plc

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

 

DLI Asset Update

 

Infrastructure India plc, an AIM quoted infrastructure fund investing directly
into assets in India, has been notified that, on 12 April 2024, a loan recall
notice was received by Distribution Logistics Infrastructure India Limited
("DLI") from the lenders to DLI's project debt ("Lenders") .

 

As announced on 27 March 2024, DLI was granted a period of grace for debt
servicing by its Indian lenders until February 2024 and DLI management has
been in discussion with its lenders regarding settlement of its dues.

 

A loan recall notice in India is a precursor for the lenders to DLI to invoke
Insolvency & Bankruptcy Code if DLI presents no satisfactory response to
the notice within two weeks from the date of issue. IIP is in discussions with
a third party and has received preliminary terms for the sale of DLI. These
discussions are ongoing, although there can be no guarantee that these will
lead to definitive agreements for the sale of DLI.

 

IIP is liaising with DLI on this matter and will provide shareholders with
further updates, as appropriate, in due course.

 

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).

 

 

- Ends -

 

Enquiries:

 Infrastructure India plc                 www.iiplc.com (http://www.iiplc.com/)

 Sonny Lulla                              Via Novella

 Strand Hanson Limited                    +44 (0) 20 7409 3494

 Nominated Adviser

 Richard Johnson / James Dance

 Singer Capital Markets                   +44 (0) 20 7496 3000

 Broker

 James Maxwell - Corporate Finance

 James Waterlow - Investment Fund Sales

 Novella                                  +44 (0) 20 3151 7008

 Financial PR

 Tim Robertson / Safia Colebrook

 

 

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