TIDMRMII TIDMTTM

RNS Number : 5510Y

RM Infrastructure Income PLC

17 January 2022

 
                               RM Infrastructure Income Plc 
 
                                ("RMII" or the "Company") 
 
                                LEI: 213800RBRIYICC2QC958 
 
                                     Net Asset Value 
 
            NAV 
             The Company's NAV % Total Return for the month of December was 
             +0.33%, which brings the NAV % Total Return for the quarter to 
             +0.82%. 
             The NAV % Total Return for the full year was +9.24%, and since 
             January 2020 pre-pandemic the NAV % Total Return has been +12.68%. 
             The Ordinary Share NAV as at 31(st) December 2021 was 95.85 pence 
             per share. This monthly NAV return of -1.306 pence per share 
             arose primarily from the ex-dividend effect of the 1.625 pence 
             per share total ordinary dividend for the period Q3 2021, declared 
             in November and paid in December 2021. Otherwise, there was positive 
             interest income, net of expenses, of 0.486 pence per share and 
             a decrease in portfolio valuations of 0.166 pence per share. 
                Summary for December 2021 
                     (pence per share) 
              Net interest income    +0.486p 
              Change in portfolio 
               valuations            -0.166p 
              Payment of Dividend 
               (Q3 2021)             -1.625p 
              Net NAV Movement       -1.305p 
             ---------------------  -------- 
 
 
             Company Activity 
             The Company declared a dividend of 1.625 pence per share in respect 
             of Q3 2021 in November. This was paid in December, marking the 
             19(th) distribution for the Company at or above the Company's 
             stated annual targets, which currently is 6.5 pence per share. 
             Since inception, the Company has distributed a total of 34.355 
             pence per share to investors. 
             During December, the Company purchased a total of 103,794 ordinary 
             shares in two transactions at an average price of 93.96 pence 
             per share representing a 3.28% discount to the latest published 
             NAV at the time of trade execution. 
             The closing mid share price at the year-end was 95 pence which 
             is 8 pence per share higher than the opening mid share price 
             at the start of the year and represents a total share return(12) 
             of 17.27% for the year. 
             The Investment Manager was accredited as a lender by the British 
             Business Bank through the Recovery Loan Scheme "RLS" in October. 
             RMII is the funding partner under the RLS programme, and this 
             offers further opportunities to make secured loans within the 
             Company's core sectors, increasing the proportion of the portfolio 
             that benefits from contractual government guarantees. The proportion 
             of the portfolio benefitting from partial UK government guarantees 
             increased over the quarter from circa 24% to circa 27%. 
 
 
 
             Portfolio Update 
             Overall, the fourth quarter of 2021 was a stable quarter for 
             the portfolio with a NAV % Total Return of +0.82%. Investments 
             and repayments for the quarter are shown below: 
              *    Loan ref 15. Healthcare - GBP4.5m invested in Voyage 
                   Care 1(st) Lien bonds maturing in 2023. 
 
 
              *    Loan ref 92. Hotel & Leisure - GBP2.5m under the RLS 
                   to complete the funding required for the Glasgow 
                   Virgin hotel scheme. 
 
 
              *    Loan ref 88. & 83. Healthcare - further drawdowns 
                   under the Company's committed facilities totalling 
                   circa GBP3m largely driven by drawdowns under these 
                   two construction facilities provided to a leading UK 
                   healthcare operator in the purpose-built modern care 
                   home market. One of the properties reached practical 
                   completion during the quarter. 
 
 
              *    Loan ref 74. Student accommodation - repayment 
                   totalling circa GBP4.25m. 
 
 
              *    Loan ref 58. Hotel & Leisure - repayment totalling 
                   GBP1.74m. 
 
 
 
             Finally, considering inflation is high and is expected to remain 
             elevated with the further interest rate hikes by global central 
             banks likely, the Investment Manager remains confident in regard 
             to the low interest rate sensitivity of the portfolio. This is 
             largely due to the short duration nature of the portfolio with 
             a weighted average loan life of 2.2 years. Thus, in a relatively 
             high inflationary environment loans are repaid relatively quicky 
             and can be reinvested at higher yields. 
 
 The Company also announces that the Monthly Report for the period 
  to 31 Dec 2021 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 
 Pietro Nicholls 
  Thomas Le Grix De La Salle 
 Tel: 0131 603 7060 
 
 International Fund Management - AIFM 
 Chris Hickling 
 Shaun Robert 
 Tel: 01481 737600 
 
 Tulchan Group - Financial PR 
 Elizabeth Snow 
 Oliver Norgate 
 Tel: 0207 353 4200 
 
 PraxisIFM Fund Services (UK) Limited - Administrator and Company 
  Secretary 
 Brian Smith 
 Ciara McKillop 
 Tel: 020 4513 9260 
 
 Singer Capital Markers Advisory LLP - Financial Adviser and 
  Broker 
 James Maxwell 
 Asha Chotai 
 Tel: 020 7496 3000 
 
 Peel Hunt LLP - Financial Adviser and Broker 
 Luke Simpson 
 Liz Yong 
 Tel: 020 7418 8900 
 
 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/ 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NAVZELFFLFLEBBD

(END) Dow Jones Newswires

January 17, 2022 02:01 ET (07:01 GMT)

Rm Infrastructure Income (LSE:RMII)
Gráfica de Acción Histórica
De May 2022 a Jun 2022 Haga Click aquí para más Gráficas Rm Infrastructure Income.
Rm Infrastructure Income (LSE:RMII)
Gráfica de Acción Histórica
De Jun 2021 a Jun 2022 Haga Click aquí para más Gráficas Rm Infrastructure Income.