REG - Infrastructure India Infrastructure Ind W - Notice of Results and Asset Sale Update

Infrastructure IndiaAnnouncement

29/11/2022 07:00

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RNS Number : 8365H  Infrastructure India plc  29 November 2022

29 November 2022

 

Infrastructure India plc

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

 

Further asset sale update and notice of results

 

Infrastructure India plc, an AIM quoted infrastructure fund investing directly
into assets in India, announces a further update on the sale of Indian Energy
Limited ("IEL") and notice of annual results.

 

Further to the Company's announcements of 15 July 2022, 12 September 2022 and
30 September 2022 and 30 October 2022, the Group now expects proceeds from the
sale of IEL to be received during December 2022 following a request from the
purchaser, AVSR Constructions, for some additional time to complete the
transaction. The Board has expressed concern to AVSR over the continued delays
and has opened dialogue with certain other interested parties.

 

IIP expects to publish its audited annual accounts for the year ended 31 March
2022 during the latter half of December and aims to release guidance on net
asset value in the coming weeks.

 

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 further
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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