RM Infrastructure Income PLC Shareholder Update (4175F)
10 Julio 2023 - 1:00AM
UK Regulatory
TIDMRMII TIDMTTM
RNS Number : 4175F
RM Infrastructure Income PLC
10 July 2023
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN WHOLE OR IN PART, IN OR INTO ANY MEMBER STATE OF THE EUROPEAN
ECONOMIC AREA, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE
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COULD BE UNLAWFUL .
RM Infrastructure Income PLC
(the "Company" or "RMII")
LEI: 213800RBRIYICC2QC958
Shareholder Update
On 23 May 2023, RMII announced that as part of its review of the
Company's strategy it would undertake a shareholder consultation.
Since that announcement the Board, the Investment Adviser and the
Company's joint brokers have consulted widely with RMII's major
shareholders.
The shareholder consultation set out to cover the following
topics: a continuation of the Company's existing investment policy
and strategy, a full or partial exit opportunity, a combination of
the Company's assets with another suitable investment company or
fund and a managed wind-down.
In general, consulted shareholders were overwhelmingly
supportive of the Company's management and performance, as well as
its investment focus and strategy. Shareholders did however
highlight the Company's small scale which has created challenges in
generating improved liquidity in the Company's shares and
restricted the Company's ability to grow. To that end, it was
determined that reducing the size of the Company through a partial
exit opportunity would only exacerbate these challenges.
Progress concerning a potential combination of the Company's
assets with another suitable investment company or fund remains
limited. As announced on 23 May 2023, the Company had received a
non-binding indicative proposal which would involve a combination
of all the Company's assets with another investment company under
Section 110 of the Insolvency Act 1986. However, the Board has
still not received more detailed proposals from this counterparty.
The Board and their advisers received two other initial proposals,
one of which is under consideration but remains at a very early
stage and there is no certainty that it will develop into a
recommendable transaction. For the avoidance of doubt, none of
these approaches anticipate any offer for the Company, recommended
or otherwise, under the City Code on Takeovers and Mergers.
The Board remains conscious of the size of the Company, the
discount to which its shares trade at and the need to maximise
shareholder value and the Board expects to put forward proposals
regarding the future of the Company as soon as possible.
For further information, please contact:
RM Infrastructure Income RMInfraCoSecmailbox@apexfs.group
plc
Norman Crighton
Singer Capital Markets
James Maxwell
Asha Chotai 020 7496 3000
Peel Hunt LLP
Luke Simpson
Liz Yong 020 7418 8900
About RM Infrastructure Income PLC
The Company aims to generate attractive and regular dividends
and positive social impact by lending to assets at the forefront of
providing essential services to society.
Its diversified portfolio of 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.
About RM Funds
RM Funds is an alternative asset manager. Founded in 2010, with
offices in Edinburgh, and London, the firm manages capital on
behalf of institutional investors, multi-asset allocators, wealth
managers and retail investors. RM Funds focuses on real asset
investing across liquid alternatives and private markets.
RM Funds is a delivery partner to the British Business Bank in
connection with the Coronavirus Business Interruption Loan Scheme.
RM Funds is a trading name of RM Capital Markets Limited.
RM Funds is a signatory to the Principles of Responsible
Investment.
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July 10, 2023 02:00 ET (06:00 GMT)
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