Infrastructure India PLC - infrastructure fund investing directly into assets in India - Says it expects to release 2023 results in the first quarter of 2024. Will be able to publish interim results immediately afterwards. Also expects to convene an annual general meeting in the first quarter. Says results delay is due to delays in the disposal of Distribution Logistics Infrastructure Private Ltd. Says this transaction allows it to remain invested in the Indian logistics sector and is expected to realise enhanced value for shareholders at the time of exit, most likely within 24 to 36 months from closing. Says both Distribution Logistics and purchaser Pristine Malwa Logistics Park Private Ltd are "working diligently towards completion", with "certain complex issues" now "nearing resolution". Currently expects to complete sale by January 15. Adds that planned sale of Indian Energy Ltd to FA Power Renewables Private Ltd, closing of which was delayed due to "regulatory matters", is now close to finalisation.
Current stock price: Suspended in London, last closed at 0.50 pence on October 2
12-month change: down 99%
By Emma Curzon, Alliance News report
Should be an Interesting 2024 for IIP holders
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