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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September 18, 2023 02:00 ET (06:00 GMT)

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