REG - Infrastructure India Infrastructure Ind W - Notice of Results and Guidance

Infrastructure IndiaAnnouncement

16/12/2022 07:00

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RNS Number : 8926J  Infrastructure India plc  16 December 2022

16 December 2022

 

 

Infrastructure India plc

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

 

Notice of Results and NAV Update

 

Infrastructure India plc, an AIM quoted infrastructure fund investing directly
into assets in India, announces that it expects to publish its audited annual
results for the 12 months ended 31 March 2022 ("Results"), in the latter half
of December 2022. In accordance with AIM's temporary measures for publication
of annual audited accounts, IIP was granted a three month extension to the
deadline for publishing its Results, as announced on 14 September 2022.

 

The Board of IIP currently expect to report a net liability position for the
year ended 31 March 2022. This was based on agreed preliminary terms with a
third party and the ascribed net minimum consideration for IIP's largest
holding, Distribution Logistics Infrastructure Limited ("DLI"). The proposed
transaction is structured in two parts, with a deferred, performance-based,
and contingent consideration, which does not contribute to the assigned DLI
asset value and which the Directors expect to have a positive impact on net
assets in due course. The Board will be making further announcements as and
when appropriate.

 

The Board has been active in securing sources of financing to ensure the Group
has adequate funding to continue to meet liabilities as they fall due and, as
announced, this includes asset sales. As a result of this process, the Group
has prepared the accounts on a basis other than going concern due to the
uncertainty in relation to transaction timing, ultimate receipt of sale
proceeds and the specifics of any deferred consideration. This basis was
considered the most appropriate method for the reporting period and this was
agreed with its auditors.

 

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.

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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