Infrastructure India plc Resignation of Nominated Adviser
2024年8月1日 - 3:00PM
RNS Regulatory News
RNS Number : 6835Y
Infrastructure India plc
01 August 2024
1 August 2024
Infrastructure India
plc
("IIP" or
the "Company" or, together with its subsidiaries, the
"Group")
Resignation of Nominated
Adviser
Infrastructure India plc, an AIM
quoted infrastructure fund investing directly into assets in India,
announces that Strand Hanson Limited, the Company's nominated
adviser (the "Nominated Adviser"), has resigned with immediate
effect.
Following the AGM on 26 June 2024,
when two of IIP's directors were not re-elected to the Board, and
the subsequent resignation of M.S. Ramachandran on 12 July 2024,
the Company's Board comprises two directors and is therefore not
quorate under its articles of association (the "Articles"). As
such, IIP has not been able to operate effectively under the
Articles, with the powers of the directors limited to the
appointment of additional directors or the convening of a general
meeting for the purpose of making such appointment. Accordingly,
trading in IIP's ordinary shares on AIM was suspended on 16 July
2024, pending the appointment of at least one additional
director.
IIP has been unable to identify an
appropriate director to be appointed, and the Board does not
believe that there is any reasonable prospect of appointing an
additional director whilst it remains admitted to trading on AIM,
resulting in the Company being unable to operate effectively on an
indefinite basis.
Following the resignation of the
Company's Nominated Adviser, the Company's ordinary shares continue
to be suspended from trading on AIM. AIM Rule 1 provides the
Company with one month to appoint a replacement nominated adviser.
If no replacement nominated adviser is appointed within that
timeframe, the admission of the Company's AIM securities will be
cancelled (the "Cancellation"). The Company does not intend to
appoint a replacement nominated adviser and the Cancellation is
therefore expected to take effect at 07:00 a.m. on 2 September
2024.
Following the Cancellation, the
Company expects be able to return the Board to a quorate status, to
enable the Company to continue with its asset disposal strategy to
maximise the returns from its assets and pursue an orderly winding
up.
Enquiries:
Infrastructure India plc
Sonny Lulla
|
www.iiplc.com
Via Novella
|
|
|
Singer Capital Markets
Broker
James Maxwell - Corporate
Finance
James Waterlow - Investment Fund
Sales
|
+44 (0) 20 7496 3000
|
Novella
Financial PR
Tim Robertson / Safia
Colebrook
|
+44 (0) 20 3151 7008
|
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END
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から 10 2024 まで 11 2024
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