Further update regarding liquidation of Carillion

29 January 2018

John Laing Infrastructure Fund Limited ("JLIF")

Further update regarding liquidation of Carillion plc

John Laing Infrastructure Fund Limited ('JLIF' or the 'Company'), the listed infrastructure investment company, notes recent commentary regarding the impact of the liquidation of Carillion plc ("Carillion"). 

JLIF refers to its announcement made on 16 January 2018 in respect of the compulsory liquidation of Carillion.  John Laing Capital Management Ltd, the Company's Investment Adviser, continues to work on implementing its contingency plans to replace Carillion as Facilities Management ("FM") provider on the 9 JLIF projects and expects this to occur on similar terms to the existing contracts within the projects.  The Investment Adviser anticipates that there will be minimal service disruption, however initially expects additional advisory and transaction costs in respect of the appointment of replacement facilities managers to cost approximately £3 million in aggregate. 

JLIF reiterates that it has no projects currently in construction where Carillion is the contractor.  JLIF owns one project where Carillion is still liable for any construction defects found on the project, with the construction period having completed over 10 years ago.  JLIF reiterates that a recently completed routine defects survey has not highlighted any significant areas of concern.   

The Investment Adviser believes that the compulsory liquidation of Carillion should have no material impact on the Company and no impact on the Company's dividend policy.  The Company will continue to manage the situation as it develops and provide further updates as appropriate. 

For further information, please contact:

John Laing Capital Management                      020 7901 3326

David Hardy
Jamie Pritchard

Finsbury                                                             020 7251 3801

Nidaa Lone
Philip Walters

About John Laing Infrastructure Fund 
 

JLIF is one of Europe's largest listed infrastructure funds, with a Premium Listing on the London Stock Exchange. JLIF invests in the equity and subordinated debt issued predominantly with respect to operational Public-Private Partnership ("PPP") projects. JLIF's purpose is to support governments, cities and communities meet their infrastructure needs, from delivery and financing through to operations and management. Our objective is to make available for use high-quality infrastructure assets that meet or exceed the expectations of our clients, and in so doing, provide our shareholders with a source of stable, predictable income.