August 1, 2018 / 6:07 AM / 2 months ago

BRIEF-HICL Infrastructure makes progress with PPP projects affected by Carillion liquidation

Aug 1 (Reuters) - HICL Infrastructure Company Ltd:

* REITERATES COMPANY’S DIVIDEND GUIDANCE OF 8.05P PER SHARE FOR CURRENT FINANCIAL YEAR AND 8.25P PER SHARE FOR FOLLOWING YEAR

* INVESTMENT ADVISER HAS MADE SOLID PROGRESS RESOLVING CONSEQUENCES OF CARILLION LIQUIDATION FOR THOSE PPP PROJECTS IN PORTFOLIO THAT WERE AFFECTED

* OVERALL INDICATIVE PRICING ON REPLACEMENT SUBCONTRACTS IS IN LINE WITH EXPECTATIONS BUILT INTO MARCH 2018 VALUATION

* IN CURRENT FINANCIAL YEAR TO DATE, INVESTMENT ADVISER HAS SOURCED NEW INVESTMENTS AND A PREFERRED BIDDER OPPORTUNITY IN HICL’S THREE TARGET INFRASTRUCTURE MARKET SEGMENTS WITH A TOTAL VALUE OF APPROXIMATELY £110M

* SINCE 1 APRIL 2018, PORTFOLIO HAS PERFORMED IN LINE WITH EXPECTATIONS WITH NO MATERIAL ISSUES AFFECTING INVESTMENT PERFORMANCE

* CASH GENERATION FROM PORTFOLIO IS IN LINE WITH EXPECTATIONS, EXCLUDING THOSE PROJECTS IN DISTRIBUTION LOCK-UP DUE TO CARILLION LIQUIDATION

* INVESTMENT ADVISER HAS BEEN MAKING GOOD PROGRESS IN RESOLVING CONSEQUENCES OF LIQUIDATION OF CARILLION FOR THOSE PPP PROJECTS IN PORTFOLIO THAT WERE AFFECTED

* BOARD WILL KEEP SCRIP DIVIDEND ALTERNATIVE UNDER REVIEW EACH QUARTER, AND SHAREHOLDERS WHO HAVE PREVIOUSLY COMPLETED A SCRIP DIVIDEND MANDATE TO RECEIVE SCRIP SHARES ARE ADVISED THAT THEIR SCRIP DIVIDEND MANDATE REMAINS IN PLACE FOR FUTURE PERIODS Source text for Eikon: Further company coverage: (Reporting By Pamela Barbaglia)

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