TIDMIIP TIDMTTM

RNS Number : 2817Y

Infrastructure India plc

13 January 2022

13 January 2022

Infrastructure India plc

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

Liquidity and Financing Update

Infrastructure India plc, an AIM quoted infrastructure fund investing directly into assets in India, announces that, further to its interim results published on 24 December 2021, in which it noted that the Company's forecasts indicate that the Company does not have sufficient cash reserves to meet creditors as they fall due beyond January 2022, it has agreed with certain creditors that they will withhold demanding payment for invoices falling due in January until at least March 2022 (the "Payment Extension").

The Payment Extension provides the Company with cash runway to the end of February 2022 to source the funding required to ensure the Group has adequate funding to continue to meet liabilities as they fall due.

To realise funds within the short term, management continues its advanced discussions with regard to the sale of IEL. The Group has received a Letter of Intent signed by a third party with respect to the sale of IEL and documentation is currently being negotiated. While the sale will likely occur at a discount to the most recently stated NAV, the proceeds will provide the Group with additional runway to pursue the monetisation of other assets, in particular through the partial or complete sale of DLI.

Further updates on progress will be provided as and when appropriate.

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.

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 / Fergus Young                    +44 (0) 20 3151 7008 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCBTMBTMTBBTFT

(END) Dow Jones Newswires

January 13, 2022 02:00 ET (07:00 GMT)

Infrastructure India (LSE:IIP)
Gráfico Histórico do Ativo
De Mai 2022 até Jun 2022 Click aqui para mais gráficos Infrastructure India.
Infrastructure India (LSE:IIP)
Gráfico Histórico do Ativo
De Jun 2021 até Jun 2022 Click aqui para mais gráficos Infrastructure India.