The board of HICL Infrastructure Company has recently proposal to raise £25 million (US$36 million) through an issue of ordinary shares in the capital of the company by way of tap issuance. The Issue will be made to qualifying investors through HICL's corporate broker, Canaccord Genuity Limited.

The net proceeds of the Issue will be applied in the first instance to addressing the company's net funding requirement of around £7 million.

Under the terms of the Issue, HICL Infrastructure Company  intends to issue approximately 16 million ordinary shares of £0.01 pence each in the capital of the company, under authority granted by shareholders at its annual general  meeting on 21 July 2015.

Given that a number of anticipated investments by the company are at an advanced stage of the acquisition process, as a result of which it is expected that the company will shortly have additional funding requirements, and in light of the fact that the company will shortly be entering into a close period, the directors reserve the right to increase the size of the issue in the event of material excess demand for the new ordinary shares.

The number of new ordinary shares to be issued and the price per share will be agreed between Canaccord Genuity and the company following close of the book-build at noon on Tuesday 22 March 2016, and announced shortly thereafter. Additionally, Canaccord Genuity and the company reserve the right to set a maximum percentage of new ordinary shares that may be allocated to any one investor.

Application will be made to the Financial Conduct Authority for admission of the new ordinary shares to the premium segment of the official list of the FCA and to London Stock Exchange plc for admission to trading of the new ordinary shares on its main market for listed securities. It is expected that admission will become effective on or around Thursday 24 March 2016 and that dealings in the new ordinary shares on the London Stock Exchange's main market for listed securities will commence at that time.

InfraRed Capital Partners Limited acts as Investment Adviser to HICL Infrastructure Company Limited and is acting for no-one else in connection with the issue.