PME African Infra - TMP Uganda Transaction
PME African Infrastructure Opps PLC
01 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 Uganda
Limited ('TMP Uganda').
TMP Uganda is a telecommunications start-up based in Uganda and which has been
awarded licences to provide telecommunications services throughout Uganda. It
aims to be the number one broadband provider in Uganda by delivering high
quality broadband services throughout the country using a WiMax technology
* PME has provided TMP Uganda with debt financing in order to accelerate the
roll-out of its WiMax based network platform.
* Subject to Ugandan regulatory approval, PME will also acquire a significant
controlling equity position in TMP Uganda.
* The initial investment is for a total of US$2.5 million with an option to
invest a further US$17.5 million.
TMP Uganda is owned and managed by TMP Uganda Management AS, which is a
Norwegian based spin-off of the multinational telecommunications giant, Telenor
ASA. TMP Uganda Management AS has a wealth of experience in building and
managing large telecommunications networks in developing countries and
particularly in Africa.
TMP Uganda Management will remain as a shareholder in TMP Uganda and will
continue to be responsible for providing to it all requisite management and
Richard Bouma, CEO of PME Infrastructure Managers Limited, commented:
'TMP Uganda and the relationship with TMP Management AS are at the heart of
PME's telecommunication strategy. We believe that Uganda's continued economic
development and the spectacular growth in mobile penetration rates are
inextricably linked. We are excited to be investing in the next phase of this
growth, which we believe will bring broadband and data connectivity to a rapidly
increasing percentage of the Ugandan population.'
Principle Capital on behalf of Anne Dalen +44 20 7240 3222
PME Infrastructure Managers Limited
Smith & Williamson Siobhan Sergeant +44 20 7131 4000
Corporate 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.