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Digital 9 Infrastructure PLC (D9) completed the divestment of its entire stake in EMIC-1 on May 29, 2025, for a final consideration of US$43m (c. £32m), net of US$2.6m in transaction costs. This consideration, which was approximately US$1m higher than previously announced, will be used to repay £40m of D9's Revolving Credit Facility.
| Date | 29 May 2025 |
| Time | 07:30:00 |
| Category | Miscellaneous |
| ID | 4727K |
29 May 2025
DIGITAL 9 INFRASTRUCTURE PLC
("D9" or the "Company" and, together with its subsidiaries, the "Group")
Completion of EMIC-1 transaction for US$43m (c. £32m) and partial RCF repayment
The Board of D9 (the "Board") is pleased to announce that it has completed the divestment of the Company's entire stake in EMIC-1 (the "Project") for a final consideration of US$43m (c. £32m1), net of the US$2.6m previously announced transaction costs. The final consideration is c. US$1m higher than the consideration communicated by the Company in the announcement on 31 December 2024, due to the closing adjustment mechanism. Completion follows the satisfaction of all closing conditions with the buyer under the divestment agreement.
The proceeds of the EMIC-1 completion in addition to the release of c. US$10m (c. £7m1) of additional construction commitments on the Project, will allow the Company to significantly deleverage its balance sheet and repay £40m of the Revolving Credit Facility ("RCF") imminently. The remaining RCF balance of £13m, is expected to be repaid from further divestment proceeds and working capital surpluses in due course.
1 GBP amounts based on a 1.35 USD/GBP exchange rate as of 23 May 2025.
ENDS.
Contacts
|
Digital 9 Infrastructure plc Eric Sanderson |
via FTI Consulting |
|
InfraRed Capital Partners Limited James O'Halloran Mohammed Zaheer |
+44 (0) 207 484 1751
|
|
Panmure Liberum Limited (Financial Adviser to the Company) Chris Clarke Darren Vickers |
+44 (0) 203 100 2222 |
|
J.P. Morgan Cazenove (Corporate Broker) William Simmonds Jérémie Birnbaum |
+44 (0) 20 7742 4000 |
|
FTI Consulting (Communications Adviser) Mitch Barltrop Maxime Lopes |
+44 (0) 7807 296 032 +44 (0) 7890 896 777 |
LEI Code: 213800OQLX64UNS38U92
About Digital 9 Infrastructure plc
Digital 9 Infrastructure plc (DGI9) is an investment trust listed on the London Stock Exchange and a constituent of the FTSE All-Share, with the ticker DGI9. The Company's investment objective is to undertake a Managed wind-down of the Company and realise all existing assets in the Company's portfolio in an orderly manner. For more information, please visit www.d9infrastructure.com.
About InfraRed Capital Partners (Investment Manager to D9 to effect the wind-down)
InfraRed was appointed as AIFM on 11 December 2024 to effect the managed wind-down of D9.
InfraRed manages US$13bn of equity capital2 for investors around the globe, in listed and private funds across both core and value-add strategies.
InfraRed combines a global reach, operating worldwide from offices in London, Madrid, New York, Sydney and Seoul, with deep sector expertise from a team of more than 160 people.
InfraRed is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life, and benefits from its scale and global platform.
For more information, please visit www.ircp.com.
2 Uses 5-year average FX as at 30th September 2024 of GBP/USD of 1.2827; EUR/USD 1.1123. EUM is USD 12.803m