Result of Court Hearing (5625O)

TIDMIEL TIDMIIP

RNS Number : 5625O

Indian Energy Limited

20 September 2011

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

20 September 2011

Indian Energy Limited ("IEL" or the "Company")

Offer by Infrastructure India plc for IEL by means of a Scheme of Arrangement (the "Scheme")

Result of Court Hearing

On 5 September 2011, the Company announced that the resolutions proposed at the Court Meeting and the EGM in relation to the Scheme had been passed. IEL is pleased to announce that at the hearing of the Royal Court of Guernsey held today, the Royal Court of Guernsey sanctioned the Scheme.

As a result, the Scheme will become effective at 8.00 a.m. tomorrow, 21 September 2011. Cancellation of trading of IEL Shares on AIM and admission of the New IIP Shares to trading on AIM are also expected to take place tomorrow. The CREST accounts of IEL Shareholders who hold IEL Shares in uncertificated form should be credited on the Effective Date. Alternatively, certificates will be dispatched within 14 days following the Effective Date.

Capitalised terms not otherwise defined in this announcement have the meanings given to them in the Scheme Document.

Enquiries:

 
Indian Energy Limited                            Tel: +44 20 3411 
                                                  3640 
Rupert Strachwitz 
 
Arden Partners Plc (Financial adviser, broker    Tel: +44 20 7614 
 and Nomad to IEL)                                5917 
Chris Hardie / Jamie Cameron 
 
Pelham Bell Pottinger (Public Relations to IEL)  Tel: +44 20 7861 
                                                  3232 
Archie Berens

Arden Partners, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for IEL and no one else in connection with the Proposal and will not be responsible to anyone other than IEL for providing the protections afforded to customers of Arden Partners nor for providing advice in relation to the Proposal, the contents of this announcement, or any transaction or arrangement referenced in this announcement.

DEALING DISCLOSURE REQUIREMENTS

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the Offer Period and, if later, following the announcement in which any paper offeror is first identified.

An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 p.m. (London time) on the 10th business day following the commencement of the Offer Period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the Offer Period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129.

PUBLICATION ON WEBSITE

A copy of this announcement will be made available on IEL's website at www.indian-energy.com as soon as possible.

For the avoidance of doubt, the content of the websites referred to above is not incorporated into and does not form part of this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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