Issue of Equity and Director/PDMR Shareholding
Updated : 14:57
10 July 2019
Infrastructure India plc
("IIP", the "Company and together with its subsidiaries the "Group")
Issue of Management Agreement Annual Fee Shares
Director/PDMR Shareholding
Infrastructure India plc, an AIM quoted infrastructure fund investing directly into assets in India, announced the terms of a revised and restated management and valuation and portfolio services agreement (the "Management Agreement") with the Company's existing asset manager, Franklin Park Management, LLC (the "Asset Manager") on 20 June 2019. Pursuant to the Management Agreement, the Asset Manager is to be issued with 605,716 new ordinary shares in the Company on 1 July each calendar year for the duration of the Management Agreement ("Annual Fee Shares").
The Company announces that it has today conditionally issued a total of 605,716 new ordinary shares in the Company to the Asset Manager (the "New Ordinary Shares"), being Annual Fee Shares which were due for issue by the Company to the Asset Manager on 1 July 2019.
Following the issue of the New Ordinary Shares, the Asset Manager is now interested in a total of 1,817,148 ordinary shares in the Company, representing 0.27% of the Company's enlarged issued share capital, as enlarged by the issue of the New Ordinary Shares.
Tom Tribone, Sonny Lulla and Rob Venerus, each directors of the Company, collectively own the entire issued of the share capital of the Asset Manager.
Application has been made for the New Ordinary Shares, which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence on AIM on 16 July 2019.
From Admission, the Company will have 682,084,189 ordinary shares in issue with no ordinary shares held in treasury. This is the total number of voting rights in IIP and may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further details.
Enquiries:
Infrastructure India plc Sonny Lulla
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Cenkos Securities plc Nominated Adviser & Joint Broker Azhic Basirov / Ben Jeynes | +44 (0) 20 7397 8900 |
Nplus1 Singer Advisory LLP Joint Broker James Maxwell - Corporate Finance James Waterlow - Investment Fund Sales
| +44 (0) 20 7496 3000 |
Novella | +44 (0) 20 3151 7008 |
Financial PR | |
Tim Robertson / Toby Andrews | |
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Thomas Anthony Tribone | |
2 | Reason for the notification | ||
a) | Position/status | PDMR (Director) - notification concerns the grant of new ordinary shares to an entity in which the PDMR is beneficially interested | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Infrastructure India plc | |
b) | LEI | 213800M623GQQAG11656 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Ordinary shares of 1p each | |
Identification code | IM00B2QVWM67 | ||
b) | Nature of the transaction | Grant of new ordinary shares to an entity in which the PDMR is beneficially interested | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0.00 | 605,716 | ||
d) | Aggregated information | ||
Aggregated volume | N/A - single transaction | ||
Price | N/A - single transaction | ||
e) | Date of the transaction | 10 July 2019 | |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Rahul (Sonny) Lulla | |
2 | Reason for the notification | ||
a) | Position/status | PDMR (Director) - notification concerns the grant of new ordinary shares to an entity in which the PDMR is beneficially interested | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Infrastructure India plc | |
b) | LEI | 213800M623GQQAG11656 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Ordinary shares of 1p each | |
Identification code | IM00B2QVWM67 | ||
b) | Nature of the transaction | Grant of new ordinary shares to an entity in which the PDMR is beneficially interested | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0.00 | 605,716 | ||
d) | Aggregated information | ||
Aggregated volume | N/A - single transaction | ||
Price | N/A - single transaction | ||
e) | Date of the transaction | 10 July 2019 | |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Robert Venerus | |
2 | Reason for the notification | ||
a) | Position/status | PDMR (Director) - notification concerns the grant of new ordinary shares to an entity in which the PDMR is beneficially interested | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Infrastructure India plc | |
b) | LEI | 213800M623GQQAG11656 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Ordinary shares of 1p each | |
Identification code | IM00B2QVWM67 | ||
b) | Nature of the transaction | Grant of new ordinary shares to an entity in which the PDMR is beneficially interested | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0.00 | 605,716 | ||
d) | Aggregated information | ||
Aggregated volume | N/A - single transaction | ||
Price | N/A - single transaction | ||
e) | Date of the transaction | 10 July 2019 | |
f) | Place of the transaction | Outside of a trading venue |
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