HICL Infrastructure Company Ld Service Provision Continuity (8550B)
January 15 2018 - 2:55AM
UK Regulatory
TIDMHICL
RNS Number : 8550B
HICL Infrastructure Company Ld
15 January 2018
15 January 2018
HICL Infrastructure Company Limited
Service Provision Continuity
HICL Infrastructure Company Limited ("HICL" or the "Company"),
the listed infrastructure investment company advised by InfraRed
Capital Partners Limited ("InfraRed"), notes the recent
announcement from Carillion plc ("Carillion") regarding its
compulsory liquidation.
Acting through the Risk Committee, the HICL Board and InfraRed
make ongoing assessments of counterparties, potential issues in the
HICL supply chain and related contingency planning. In particular,
a contingency plan has already been developed that specifically
contemplated a scenario where Carillion enters liquidation and
InfraRed has been working for some time with a number of potential
replacement service providers. The contingency plan has been
activated and the InfraRed Asset Management Team is working in
conjunction with all stakeholders to ensure continuity of service
provision at the relevant PPP projects.
Carillion provided facilities management services to 10 of the
PPP project companies in which HICL is invested, representing
approximately 14% of Portfolio Value. The Company's overriding
objective is to protect the delivery of services to stakeholders,
including its public sector clients and the users of the facilities
that form part of the relevant PPP projects. The HICL Board and
InfraRed are confident the actions already under way will achieve
this and that permanent replacement facilities management services
providers will be secured as soon as practicable. A further update
will be issued in due course.
-ends-
Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Harry Seekings
Keith Pickard
Kirsty MacCallum
Tulchan Communications +44 (0) 20 7353 4200
Latika Shah
David Allchurch
Canaccord Genuity Limited +44 (0) 20 7523 8000
David Yovichic
HICL Infrastructure Company Limited
HICL Infrastructure Company Limited ("HICL" or the "Company",
and together with its subsidiaries the "HICL Group") is a long-term
investor in infrastructure assets which are predominantly
operational and yielding steady returns. It was the first
infrastructure investment company to be listed on the London Stock
Exchange.
With a current portfolio of 116 infrastructure investments, HICL
is seeking further suitable opportunities, which are positioned at
the lower end of the risk spectrum, in three target markets
segments: PPP projects; regulated assets; and demand-based
assets.
Further details can be found on the HICL website
www.hicl.com.
Investment Adviser (InfraRed Capital Partners)
The Investment Adviser to HICL is InfraRed Capital Partners
Limited ("InfraRed") which has successfully invested in over 200
infrastructure projects since 1997. InfraRed is a leading
international investment manager focused on infrastructure and real
estate. It operates worldwide from offices in London, Hong Kong,
New York, Seoul and Sydney. With over 130 professionals it manages
in excess of US$10bn of equity capital in multiple private and
listed funds, primarily for institutional investors across the
globe. InfraRed is authorised and regulated by the Financial
Conduct Authority.
The infrastructure investment team at InfraRed consists of
approximately 70 investment professionals, all with an
infrastructure investment background and a broad range of relevant
skills, including private equity, structured finance, construction,
renewable energy and facilities management.
InfraRed implements best-in-class practices to underpin asset
management and investment decisions, promotes ethical behaviour and
has established community engagement initiatives to support good
causes in the wider community. InfraRed is a signatory of the
Principles of Responsible Investment.
Further details can be found on InfraRed's website
www.ircp.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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