The International Public Partnerships Limited (INPP) fund is seeking to raise additional funds through the issue of ordinary shares of 0.01p each in the capital of the Company by way of tap issuance. The Issue will be made to qualifying investors through the Company's corporate broker, Numis Securities Limited. 

The fundraising is set to repay drawn facilities and to provide additional resources for the Company's contracted future acquisitions and other planned investments.

The company is proposing to undertake the Issue at an Issue price per New Ordinary Share of 154p which, represents a premium of 5.0% to the 30 June 2019 Company's ex-dividend net asset value 

Following recent investments, the Company is GBP143 million (US$178 million) drawn against its GBP400 million(US$497.9 million) corporate debt facility and it has also committed to investing a further c.GBP75 million (US$93.3580 million) in the nearer term including the Rampion offshore transmission project. In addition, the Company is confident that there is a strong pipeline of opportunities in the U.K. and overseas currently under consideration additional to the need to reduce the corporate debt facility.

Given the investment commitments and investment opportunities noted above and having regard to wider market considerations, the Company believes that it is appropriate at this time to seek to raise approximately GBP75 million (US$93.3580 million) of further equity capital in order to pay down the corporate debt facility.  The Board may consider raising additional amounts at their discretion and depending on shareholder demand pay down the debt facility further and additional commitments and opportunities of the Company referred to above.  

The New Ordinary Shares will, when issued, rank pari passu with the existing Ordinary Shares.  For the avoidance of doubt, the New Ordinary Shares to be issued pursuant to the Issue will not qualify for the interim dividend of 3.59p per existing Ordinary Share in respect of the period ending 30 June 2019 and which is expected to be paid on 7 November 2019. 

The Issue is expected to close at 4 pm (London time) on Thursday, 26 September 2019, but may close earlier or later at the absolute discretion of the Board.

Qualified investors are invited to apply for New Ordinary Shares by contacting Numis on the contact details below. The decision to allot New Ordinary Shares to any qualified investor shall be at the absolute discretion of the Board and Numis.