PCX Principle Cap.

RNS Number:0933A
PME African Infrastructure Opps PLC
12 July 2007



Not for release, publication or distribution in, or into, the United States,
Canada, Australia and Japan.

PME African Infrastructure Opportunities plc ("PMEAIO" or "the Company")

First Day of Dealings on AIM

PME African Infrastructure Opportunities plc is pleased to announce the
commencement of trading in its ordinary shares and warrants on AIM, following
the placing of such shares, raising US$180.45 million (before expenses). The
ordinary shares will trade on AIM under the RIC code "PMEA" and the warrants
will trade under the RIC code "PMEW" at 8:00am today.

PMEAIO is a newly incorporated Isle of Man company with an investment objective
to achieve significant total return to investors through investing in various
infrastructure projects and related opportunities across a range of countries in
sub-Saharan Africa.

The Company's investment strategy is to identify infrastructure opportunities
across the region and the Company will focus on projects involving contracts or
concessions with creditworthy clients. The Company intends to invest in the
transportation, telecommunications, energy, water and sanitation and
infrastructure-related real estate sectors and to form part of public private
partnerships. Investments will be made throughout sub-Saharan Africa with
particular focus on investment into existing infrastructure operations and
greenfield projects in Angola, Botswana, the Democratic Republic of Congo,
Ethiopia, Ghana, Mozambique, Nigeria, South Africa, Tanzania and Zambia.

The Company will, where possible, invest in infrastructure projects and related
opportunities through special purpose companies or other entities. The Company
will seek to obtain controlling interests or significant minority interests in
the projects in which it invests which will carry board representation and/or
meaningful shareholder rights.

The Board comprises five Non-executive Directors who, together, have significant
experience. The following individuals currently serve as Directors: Graca
Machel, the internationally recognised political and social activist with
particular interests in women and children's rights as well as social and
economic reconstruction and development in the region; David von Simson, a
co-founder of London based investment bank, Europa Partners Limited, and former
managing director of Warburg Dillon Read; Larry Kearns, chairman of Anglo Irish
Bank Corporation (I.O.M.) PLC and former managing partner of Ernst & Young in
Isle of Man; Paul Macdonald, a former director of Pilkington in Germany; as well
as Brian Myerson, current chief executive officer and founder of Principle
Capital Group.

The Investment Manager, PME Infrastrucuture Managers Limited ("PMEIML"), is
responsible for sourcing investment opportunities through referrals, direct
approaches and general and direct strategies employed by it to specific
industries. PMEIML is a joint venture between the Principle Capital Group (a
group of companies specialising in alternative investment management, the
holding company of which is Principle Capital Holdings S.A. (AIM: PCH)), Dunkeld
Trust, Sonrise Investment Limited and Unicos Partners LLP.

Based on current market conditions and in the absence of unforeseen
circumstances, the Investment Manager anticipates that the Company should be
substantially invested or committed for investment within 12 months of
Admission, although there can be no guarantee of this.

David von Simson, Chairman of PMEAIO, commented, "We believe that the launch of
this investment company enables us, both Directors and shareholders, to
participate in the development of a region that is rich in natural resources
but, historically, has suffered a lack of investment in infrastructure. We hope
that the Company will not only achieve excellent returns for its shareholders
but that it will be a valuable participant in the future of sub-Saharan Africa."

Smith & Williamson Corporate Finance Limited is acting as the Company's
nominated adviser and Fairfax I. S. PLC is acting as the Company's broker. PME
Infrastructure Managers Limited has been retained to provide investment
management services to the Company.

Placing Statistics:

Placing Price                                                         USD1.00

Number of Ordinary Shares being issued pursuant to the
Placing                                                            180,450,000

Number of Warrants being issued pursuant to the Placing             36,090,000

Expenses of the Placing payable by the Company                 USD7.25 million

Net proceeds of the Placing receivable by the Company        USD173.20 million

Market capitalisation at the Placing Price                   USD180.45 million


For further information, please contact:

Azhic Basirov
Smith & Williamson Corporate Finance Limited                 020 7131 4000

James King
Fairfax I. S. PLC                                            020 7460 4373

Anne Dalen
Principle Capital Group for                                  020 7240 3222
PME Infrastructure Managers Limited


12 July 2007


The Company accepts responsibility for the information contained in this
announcement. To the best of the knowledge and belief of the Company (which has
taken all reasonable care to ensure that such is the case) the information
contained in this announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information.

Fairfax I. S. PLC, which is authorised and regulated by the Financial Services
Authority and is a member of the London Stock Exchange, is acting exclusively
for the Company and no one else in connection with the Placing and the
Admission. Fairfax I. S. PLC will not regard any other person as its customer or
be responsible to any other person for providing the protections afforded to
customers of Fairfax I. S. PLC nor for providing advice in relation to the
transactions and arrangements detailed in this document. The responsibilities of
Fairfax I. S. PLC as the Company's broker for the purposes of the AIM Rules are
owed solely to the London Stock Exchange and are not owed to the Company or any
Director or to any other person. Fairfax I. S. PLC is not making any
representation or warranty, express or implied, as to the contents of this
announcement.

Smith & Williamson Corporate Finance Limited, which is authorised and regulated
by the Financial Services Authority and is a member of the London Stock
Exchange, is acting exclusively for the Company and no one else in connection
with the Placing and the Admission. Smith & Williamson Corporate Finance Limited
will not regard any other person as its customer or be responsible to any other
person for providing the protections afforded to customers of Smith & Williamson
Corporate Finance Limited nor for providing advice in relation to the
transactions and arrangements set out in this announcement. The responsibilities
of Smith & Williamson Corporate Finance Limited as the Company's nominated
adviser for the purposes of the AIM Rules are owed solely to the London Stock
Exchange and are not owed to the Company or any Director or to any other person.
Smith & Williamson Corporate Finance Limited is not making any representation or
warranty, express or implied, as to the contents of this announcement.

The subject matter of this announcement is directed only (i) at persons who are
in the United Kingdom and have professional experience in matters relating to
investments falling within Article 19(1) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 and (ii) to persons to whom it may
otherwise be lawful to distribute it (all such persons together being referred
to as "relevant persons"). This announcement must not be acted on or relied on
by persons who are not relevant persons. Any investment or investment activity
to which this announcement relates is available only to relevant persons and
will be engaged in only with relevant persons.

This announcement does not constitute an offer of, or the solicitation of any
offer to buy, any of the ordinary shares which are proposed to be offered to any
person in any jurisdiction to whom or in which such offer or solicitation is
unlawful. The distribution of this announcement in certain jurisdictions may be
restricted by law and therefore persons into whose possession this announcement
comes should inform themselves about and observe any such restrictions. Any
failure to comply with these restrictions may constitute a violation of the
securities laws of such jurisdiction. The ordinary shares which are proposed to
be offered have not been, nor will they be, registered under the United States
Securities Act of 1933 (as amended) (the "Securities Act") and may not be
offered or sold, directly or indirectly, in or into the United States absent
registration or an exemption from registration. There will be no public offer of
securities in the United States or any other jurisdiction.

This announcement does not constitute or form part of an offer, or any
solicitation of an offer, for securities and any purchase or application for
shares in the placing should only be made on the basis of information contained
in the formal AIM admission document issued by the Company in connection with
the Placing.


                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
MSCFGGMNVMLGNZM

Principle Cap. (LSE:PCX)
Historical Stock Chart
From Jun 2024 to Jul 2024

Principle Cap. (LSE:PCX)
Historical Stock Chart
From Jul 2023 to Jul 2024