REG - Infrastructure India Infrastructure Ind W - Asset Sale Update

Infrastructure IndiaAnnouncement

31/10/2022 07:45

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RNS Number : 6994E  Infrastructure India plc  31 October 2022

31 October 2022

 

Infrastructure India plc

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

 

Further 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, 12 September 2022 and
30 September 2022, the Group now expects proceeds from the sale of IEL to be
received during November 2022. However, the Board has expressed concern to
AVSR over the continued delays and that progress must soon be made. 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
Distribution Logistics Infrastructure Limited, and further announcements will
be made as and when appropriate.

 

 

 

- 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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