RM Infrastructure Income PLC Net Asset Value(s) (6851M)
18 Septiembre 2023 - 1:00AM
UK Regulatory
TIDMRMII TIDMTTM
RNS Number : 6851M
RM Infrastructure Income PLC
18 September 2023
RM Infrastructure Income Plc
("RMII" or the "Company")
LEI: 213800RBRIYICC2QC958
Net Asset Value
NAV
The NAV % Total Return for August 2023 was -0.44%, which takes
the NAV % Total Return to +1.69% over the past six months, and
+3.95% over the past 12 months.
The NAV as at 31(st) August 2023 was 91.80 pence per Ordinary
Share, which was 0.40 pence lower than at 31(st) July 2023. This
overall loss comprised positive interest income of 0.59 pence
per Ordinary Share, net of expenses, and a decrease in portfolio
valuations of 0.99 pence per Ordinary Share.
Portfolio Activity
As at 31(st) August 2023, the Company's invested portfolio had
an aggregate valuation of GBP122 million across 38 investments.
The average yield was 10.23%, with a weighted average loan life
remaining of circa 1.79 years(10) . Overall, the portfolio is
96% invested in private market assets and 4% in public bonds.
The Investment Manager's focus on creating a portfolio of high
yielding and short duration loans that do not hold significant
exposure to interest rate movements, ensures the portfolio remains
well positioned against any further interest rate increases by
global central banks.
The loss for the period was predominantly driven by investment
loan ref #74, a junior secured loan secured against 5 fully operational
student accommodation assets in the UK, as the value was brought
down to reflect the appointed receiver's latest recovery update.
Update on Strategic Review
On 6(th) September 2023, RMII's Board announced that following
extensive consultation with its advisers and shareholders regarding
its strategic review of the Company, and despite having received
various approaches from third parties, the Board has decided
to put forward proposals for a managed wind-down of the Company.
The Board intends to publish a shareholder circular by the end
of October 2023 to convene a general meeting at which it will
seek approval from shareholders to the managed wind-down and
any related matters required to facilitate and orderly realisation.
Shareholders should also note that prior to publication of the
circular, RM will explore the possibility of offering an opportunity
for shareholders who wish to maintain their exposure to the strategy
to roll-over their interests in RMII into an alternative fund
structure to be managed by RM.
The Company also announces that the Monthly Report for the period
to 31 August 2023 is now available to be viewed on the Company
website:
https://rm-funds.co.uk/rm-infrastructure-income/rm-funds-investor-monthly-fact-sheets-2/
END
For further information, please contact:
RM Capital Markets Limited - Investment Manager
James Robson
Thomas Le Grix De La Salle
Tel: 0131 603 7060
FundRock Management Company (Guernsey) Limited - AIFM
Chris Hickling
Dave Taylor
Tel: 01481 737600
Apex Listed Companies Services (UK) Ltd - Administrator and
Company Secretary
Ciara McKillop
Tel: 020 3327 9720
Singer Capital Markers Advisory LLP - Financial Adviser and
Broker
James Maxwell
Asha Chotai
Tel: 020 7496 3000
About RM Infrastructure Income
RM Infrastructure Income Plc ("RMII" or the "Company") is a closed-ended
investment trust established to invest in a portfolio of secured
debt instruments.
The Company aims to generate attractive and regular dividends
through loans sourced or originated by the Investment Manager
with a degree of inflation protection through index-linked returns
where appropriate. Loans in which the Company invests are predominantly
secured against assets such as real estate or plant and machinery
and/or income streams such as account receivables.
For more information, please see
https://rm-funds.co.uk/rm-infrastructure-income/
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END
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September 18, 2023 02:00 ET (06:00 GMT)
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