Fair Oaks Income Limited Half-year Report (1728L)
09 Septiembre 2021 - 1:00AM
UK Regulatory
TIDMFAIR TIDMFA17 TIDMTTM
RNS Number : 1728L
Fair Oaks Income Limited
09 September 2021
Fair Oaks Income Limited
9 September 2021
FAIR OAKS INCOME LIMITED (the "Company")
(Incorporated in Guernsey under The Companies (Guernsey) Law,
2008, as amended, with registered number 58123 and registered as a
Registered Closed-ended Collective Investment Scheme with the
Guernsey Financial Services Commission)
Interim Financial Report
The Board of Fair Oaks Income Limited is pleased to release its
Interim Report and Unaudited Condensed Financial Statements for the
period ended 30 June 2021 (the "Interim Report").
Highlights
-- The Company's Net Asset Value ("NAV") return per 2021 Share
was +17.1% (30 June 2020: -33.3%) for the six month period ended 30
June 2021 on a total return basis (with dividends reinvested).
-- As at 30 June 2021, the Company's total market capitalisation
was US$317 million, comprising US$276 million of 2021 Shares and
US$41 million of Realisation Shares.
-- The Company's 2021 shares closed at a mid-price of US$0.6675
on 30 June 2021. The 2021 Shares traded at an average discount to
NAV of 1.76% during the six month period ended 30 June 2021.
-- The Company's Realisation shares closed at a mid-price of
US$0.6650 on 30 June 2021. The Realisation Shares traded at an
average discount to NAV of 1.71% during the six month period ended
30 June 2021.
-- On 19 April 2021, the Company announced the result of its
reorganisation proposal, being that 62,562,883 2017 Shares had been
elected for re-designation as Realisation Shares, representing
13.4% of the 2017 Shares in issue, and 405,815,477 2017 Shares were
re-designated as 2021 Shares, representing the balance of 86.6% of
the 2017 Shares in issue (including 650,000 shares held in
Treasury). The purpose of the reorganisation was to allow those
Shareholders who wished to extend the life of their investment in
the Company beyond the planned end date of FOIF II LP ("Master Fund
II"), to be able to do so by having their 2017 Shares re-designated
as 2021 Shares, with such 2021 Shares investing in a new master
fund, FOMC III LP (the "Master Fund III"), which will have a
planned end date of 12 June 2028 and an investment objective and
policy substantially similar to that of Master Fund II.
-- The Company declared dividends of 4.75 US cents per 2021
Share and Realisation Share in the six month period ended 30 June
2021. Cumulative dividends since the inception of the Company per
2021 Share are 71.55 US cents.
Click on, or paste the following link into your web browser to
view the Interim Report.
http://www.rns-pdf.londonstockexchange.com/rns/1728L_1-2021-9-8.pdf
LEI: 2138008KETEC1WM5YP90
Enquiries:
Fair Oaks Income Limited
Email: contact@fairoaksincome.com
Web: www.fairoaksincome.com
Fair Oaks Capital Limited
Investor Relations
DDI: +44 (0) 20 3034 0400
Email: ir@fairoakscap.com
Praxis Fund Services Limited
Ben Le Prevost
DDI: +44 (0) 1481 755524
Email: Ben.LePrevost@praxisifm.com
Numis Securities Limited
Nathan Brown, Corporate Broking
DDI: +44 (0) 20 7260 1426
Email: n.brown@numis.com
Liberum Capital Limited
Chris Clarke, Investment Banking
DDI: +44 (0) 20 3100 2190
Email: chris.clarke@liberum.com
Fair Oaks Income Limited
Fair Oaks Income Limited is a registered closed-ended investment
company incorporated in Guernsey. The Company was admitted to
trading on the Specialist Fund Market of the London Stock Exchange
(now the Specialist Fund Segment of the Main Market of the London
Stock Exchange) on 12 June 2014.
The investment policy of the Company is to invest (either
directly and/or indirectly through FOIF II LP and FOMC III LP) in
US and European CLOs or other vehicles and structures which provide
exposure to portfolios consisting primarily of US and European
floating-rate senior secured loans and which may include
non-recourse financing.
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END
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