Infrastructure India plc Notice of Results and Asset Sale Update (8365H)
November 29 2022 - 1:00AM
UK Regulatory
TIDMIIP TIDMTTM
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
Sonny Lulla Via Novella
Strand Hanson Limited
Nominated Adviser
James Spinney / James Dance +44 (0) 20 7409 3494
Singer Capital Markets
Broker
James Maxwell - Corporate Finance
James Waterlow - Investment Fund Sales +44 (0) 20 7496 3000
Novella
Financial PR
Tim Robertson / Safia Colebrook +44 (0) 20 3151 7008
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