International Public Partnerships : Update Regarding Exposure to Carillion plc

RNS Number : 8976B International Public Partnership Ld 15 January 2018

UPDATE REGARDING EXPOSURE TO CARILLION PLC

15 January 2018

Interna onal Public Partnerships Limited ('the Company', 'INPP'), the listed infrastructure investment company, notes the recent announcement by Carillion plc ('Carillion') that it has taken steps to enter into compulsory liquidation with immediate effect.

The asset management team within the Investment Adviser has been aware for some me of the issues affec ng Carillion plc and has developed con ngency plans accordingly. These involve the asset manager working to transi on the projects for which Carillion Services Limited ('Carillion FM') have facili es management responsibili es to a new facili es management contractor or contractors. Over recent months the asset manager has had specific discussions with iden fied alterna ve contractors to replace Carillion on affected projects and these will now be further developed. In the mean me, all the affected facili es are currently open and opera ng normally. Carillion FM have also indicated that they expect to con nue to discharge all their facili es management obliga ons in line with their contractual requirements in the short term.

INPP advises that facili es management services are provided by Carillion FM to c.3% (by investment fair value) of the Company's por0olio. All the affected projects are opera onal. The liquida on of Carillion plc is also in some cases an event en tling project lenders to "lock up" distribu ons from projects where they have guaranteed the performance of the facili es management services. While the occurrence of any such "lock up" would not be expected to have any material impact on INPP's cashflows for the foreseeable future it would require the taking of remedial action and the contingency planning noted above has taken this into account.

The Company does not currently believe that the liquida on of Carillion is likely to have any significant valuation impact on the Company but will continue to monitor and manage the situation as it evolves.

For further information:

Erica Sibree

+44 (0)20 7939 0558

Amber Fund Management Limited

Hugh Jonathan

+44 (0)20 7260 1263

Numis Securities

Ed Berry/Mitch Barltrop FTI Consulting

+44 (0) 20 3727 1046/1039

Notes to Editors:

About International Public Partnerships:

Interna onal Public Partnerships ('INPP') is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships ('PPP'), regulated asset and other similar procurement methods.

Listed in 2006, INPP is a long-term investor in 128 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and u lity and transmission projects in the UK, Europe, Australia and North America.

INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases typically of 25-40 year concessions.

Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists over 100 dedicated staff who manage, advise on and originate investments for INPP.

Visit the INPP website atwww.internationalpublicpartnerships.comfor more information.

This information is provided by RNS

The company news service from the London Stock Exchange

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