1st Feb 2008 15:14
PME African Infrastructure Opps PLC01 February 2008 1 February 2008 PME AFRICAN INFRASTRUCTURE OPPORTUNITIES PLC ("PME" or the "Company") (AIM: PMEA.L; PMEW.L) PME announces TMP Uganda transaction PME today announced the exchange of contracts for an investment in TMP UgandaLimited ("TMP Uganda"). TMP Uganda is a telecommunications start-up based in Uganda and which has beenawarded licences to provide telecommunications services throughout Uganda. Itaims to be the number one broadband provider in Uganda by delivering highquality broadband services throughout the country using a WiMax technologyplatform. Investment highlights: * PME has provided TMP Uganda with debt financing in order to accelerate theroll-out of its WiMax based network platform. * Subject to Ugandan regulatory approval, PME will also acquire a significantcontrolling equity position in TMP Uganda. * The initial investment is for a total of US$2.5 million with an option toinvest a further US$17.5 million. TMP Uganda is owned and managed by TMP Uganda Management AS, which is aNorwegian based spin-off of the multinational telecommunications giant, TelenorASA. TMP Uganda Management AS has a wealth of experience in building andmanaging large telecommunications networks in developing countries andparticularly in Africa. TMP Uganda Management will remain as a shareholder in TMP Uganda and willcontinue to be responsible for providing to it all requisite management andtechnical expertise. Richard Bouma, CEO of PME Infrastructure Managers Limited, commented: "TMP Uganda and the relationship with TMP Management AS are at the heart ofPME's telecommunication strategy. We believe that Uganda's continued economicdevelopment and the spectacular growth in mobile penetration rates areinextricably linked. We are excited to be investing in the next phase of thisgrowth, which we believe will bring broadband and data connectivity to a rapidlyincreasing percentage of the Ugandan population." Further enquiries: Principle Capital on behalf of Anne Dalen +44 20 7240 3222PME Infrastructure Managers Limited Smith & Williamson Siobhan Sergeant +44 20 7131 4000Corporate Finance Limited Fairfax I.S. PLC James King +44 207 598 5368 Bell Pottinger Dan de Belder +44 207 861 3232 Helvetica (Isle of Man) Company Limited Clara Parisot +41 798 249 788 Note to Editors: - PME African Infrastructure Opportunities plc ("PME") is a company investing in sub-Saharan African infrastructure and infrastructure related industries. Its shares were admitted to AIM in July 2007 raising US$180 million. - PME was established to invest in sub-Saharan African infrastructure and infrastructure related industries with a view to generating attractive returns, principally through capital growth. It is targeting opportunities arising from years of under investment in sub-Saharan African infrastructure where that infrastructure will be instrumental in allowing the continent's economic development to continue to grow. - The Investment Manager is PME Infrastructure Manager Limited. The Investment Manager is responsible for identifying new investment opportunities. - The Investment Manager is 31.7% owned by Principle Capital Holdings S.A. (AIM: PCX.L) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
PMEA.L