Released: 29/10/2009
com:20091029:Rnsc5505B
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RNS Number : 5505B
Infrastructure India plc
29 October 2009
Date: 29 October 2009
On behalf of: Infrastructure India plc
Embargoed until: 0700hrs
Infrastructure India plc
Update - Potential Investment Opportunity and Corporate Alliance
Following the announcement on 29 July 2009 of the financial results for
Infrastructure India plc ("IIP" or the "Company") for the financial period
ending 31 March 2009, the Board is pleased to provide an update on recent
discussions and progress.
The Board has entered into active discussions with regard to making a potential
further investment in the transportation sector which, whilst of modest size in
itself, would represent the first step in the development of a new strategic
corporate relationship with a well-established Indian infrastructure developer
and operator with a track record over many years.
The potential investment relates to the development of an integrated transport
and logistics facility which will provide infrastructure support to enable the
orderly movement and management of goods and cargo to end customers.
From the time of the Company's flotation in 2008, and despite the ensuing global
economic downturn, it has remained an objective of the Board working with its
partners and advisers, to strengthen the depth of IIP's relationships with
relevant counterparties within the Indian infrastructure market.
In conjunction with the announcement of the potential corporate relationship,
and to fund the potential investment, the Company would seek to raise funds by
way of a pre-emptive equity offer to shareholders.
However, there can be no certainty that either the investment, the strategic
corporate relationship or the pre-emptive equity offer will proceed.
A further announcement will be made in due course.
Enquiries:
Infrastructure India plc www.iiplc.com
Rupert Cottrell Via Redleaf Communications
Akur Partners LLP 020 7955 1513
Andrew Dawber / Anthony Richardson
Smith & Williamson 020 7131 4000
Azhic Basirov / Siobhan Sergeant
Redleaf Communications 020 7566 6700
Emma Kane / Samantha Robbins / Henry Columbine iif@redleafpr.com
This information is provided by RNS
The company news service from the London Stock Exchange
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