1 August 2024

Infrastructure India plc

("IIP" or the "Company" or, together with its subsidiaries, the "Group")

Resignation of Nominated Adviser

Infrastructure India plc, an AIM quoted infrastructure fund investing directly into assets in India, announces that Strand Hanson Limited, the Company's nominated adviser (the "Nominated Adviser"), has resigned with immediate effect.

Following the AGM on 26 June 2024, when two of IIP's directors were not re-elected to the Board, and the subsequent resignation of M.S. Ramachandran on 12 July 2024, the Company's Board comprises two directors and is therefore not quorate under its articles of association (the "Articles"). As such, IIP has not been able to operate effectively under the Articles, with the powers of the directors limited to the appointment of additional directors or the convening of a general meeting for the purpose of making such appointment. Accordingly, trading in IIP's ordinary shares on AIM was suspended on 16 July 2024, pending the appointment of at least one additional director.

IIP has been unable to identify an appropriate director to be appointed, and the Board does not believe that there is any reasonable prospect of appointing an additional director whilst it remains admitted to trading on AIM, resulting in the Company being unable to operate effectively on an indefinite basis.

Following the resignation of the Company's Nominated Adviser, the Company's ordinary shares continue to be suspended from trading on AIM. AIM Rule 1 provides the Company with one month to appoint a replacement nominated adviser. If no replacement nominated adviser is appointed within that timeframe, the admission of the Company's AIM securities will be cancelled (the "Cancellation"). The Company does not intend to appoint a replacement nominated adviser and the Cancellation is therefore expected to take effect at 07:00 a.m. on 2 September 2024. 

Following the Cancellation, the Company expects be able to return the Board to a quorate status, to enable the Company to continue with its asset disposal strategy to maximise the returns from its assets and pursue an orderly winding up.

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