REG - Infrastructure India Infrastructure Ind W - Asset Sale Update

Infrastructure IndiaAnnouncement

30/09/2022 07:01

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RNS Number : 2422B  Infrastructure India plc  30 September 2022

30 September 2022

 

Infrastructure India plc

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

 

Asset sale update

 

Infrastructure India plc, an AIM quoted infrastructure fund investing directly
into assets in India, announces that the purchaser of Indian Energy Limited
("IEL"), AVSR Constructions, has continued to experience administrative delays
in finalising the transaction.

 

Further to the Company's announcements of 15 July 2022 and 12 September 2022,
the Group now expects proceeds from the sale of IEL to be received during
October 2022. The Company's creditors remain supportive, and it is expected
the consideration due to the Company from the sale of IEL will be partially
utilised towards settlement of such creditors. As previously announced, the
Board remains in discussions with third parties regarding the sale of assets,
including DLI, and further announcements will be made as and when appropriate.

 

The Board looks forward to providing shareholders with further updates, as
appropriate, in due course.

 

 

- 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

 James Spinney / 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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