RMII Rm Infrastructure Income Plc

TIDMRMDL TIDMTTM TIDMTTM

RNS Number : 6320V

RM Secured Direct Lending PLC

16 April 2021

 
               RM Secured Direct Lending Plc and RM ZDP PLC 
 
                         ("RMDL" or the "Company") 
 
                         LEI: 213800RBRIYICC2QC958 
 
                              Net Asset Value 
 
 RMDL announces that its unaudited net asset value per ordinary 
  share as at 31 March 2021, on a cum income basis, was 93.49 pence 
  (28 February 2021: 94.84 pence). 
 
 RM ZDP PLC announces that the unaudited accrued capital entitlement 
  per ZDP share as at 31 March 2021 was 110.79 pence (28 February 
  2021: 110.47 pence). 
  NAV 
  The Company's NAV % Total Return for the month was +0.28%, which 
  brings the NAV % Total Return for the quarter to 1.31%. 
  The Ordinary Share NAV as at 31(st) March 2021 was 93.49 pence 
  per share. This monthly NAV return of (1.355) pence per share 
  arose primarily from the ex-dividend effect of the 1.625 pence 
  per share total ordinary dividend for the period Q4 2020, declared 
  in February and paid in March 2021. Otherwise, there was positive 
  net interest income net of expenses of 0.45 pence per share and 
  a decrease in portfolio valuations and currency hedging costs 
  of 0.18 pence per share.  Summary for month (pence per 
                share) 
   Net interest income       +0.45 
   Change in portfolio 
    valuations               -0.18 
   Payment of Dividend      -1.625 
   Net NAV Movement         -1.355 
  -----------------------  ------- 
 
 
  Market Update 
  Global stock markets performed well in Q1. This can be largely 
  attributed to the continued vaccine rollout across developed 
  nations and a large $1.9trillion US stimulus package alongside 
  an additional $2 trillion infrastructure spending promise announced 
  by President Biden. 
  The story of the quarter for fixed income investors was the rise 
  seen in global government bond yields as the reflationary story 
  spread. UK 10-year yields rose approximately 60bps; equating 
  to a price movement of about 5% which should be seen in the context 
  that UK 10- year yields started the year at circa 20bps. 
  For the third consecutive quarter, credit products have benefitted 
  from continued positive market momentum - for this quarterly 
  period the total return on the Markit IBOX EUR Liquid High Yield 
  Index was +1.41% and the S&P European Leveraged Loan index was 
  2.07%. 
  Company Activity 
  It was announced in the annual results released on 29(th) March 
  2021 that all new investment activity going forwards will see 
  allocations to Social and Environmental Infrastructure with a 
  focus on delivering against six specific UN Sustainable Development 
  goal "SDG" outcomes. 
 
  The Investment Manager believes that the Company is uniquely 
  positioned given the direct borrower relationships to allocate 
  shareholders capital in an impactful way with a framework that 
  will allow clear Impact reporting back to investors. This framework 
  and Impact Score has been designed in conjunction with The Good 
  Economy, a leading social advisory firm acting as the company's 
  third-party impact and ESG assurance provider, and draws upon 
  many internationally recognised frameworks. The framework will 
  be available on the Company website and the Investment Manager 
  would be delighted to run any investors through the impact scoring 
  process. 
  At the end of the quarter, approximately 30% of the portfolio 
  was invested within infrastructure investments and we expect 
  capital committed to Social & Environmental Infrastructure loans 
  to increase over Q2. 
  During the quarter a 1.625 pence per share dividend in respect 
  of Q4 2020 was announced and paid which was the final payment 
  to meet the 6.5 pence per share dividend target for FY 2020. 
  The Company continued to purchase shares in the market with an 
  additional 419,500 ordinary shares acquired at an average price 
  of 87.32 pence, bringing the total number of ordinary shares 
  held in treasury to 4,279,799. Both the Board and the Investment 
  Manager remain focused on reducing the discount to -6% or lower. 
  Post period-end RM ZDP came to the end of its three-year life 
  on 6(th) April with a final capital entitlement payable of approximately 
  GBP12.1 million (110.91p per ZDP share), it was announced that 
  replacement funding for the ZDPs has been agreed through a new 
  GBP12 million loan facility with Oaknorth Bank which at the time 
  of closing was neutral in terms of the Company's existing gross 
  borrowings (9.90% on a net basis after taking account of cash 
  balances). This remains significantly within the Company maximum 
  borrowing limits of 20% of net asset value at the time of drawdown. 
 
 The Company also announces that the Monthly Report for the period 
  to 31 March 2021 is now available to be viewed on the Company 
  website: 
 https://rmdl.co.uk/investor-centre/monthly-factsheets/ 
 
                                    END 
 
  For further information, please contact: 
 RM Capital Markets Limited - Investment Manager 
 James Robson 
 Pietro Nicholls 
 Tel: 0131 603 7060 
 
 International Fund Management - AIFM 
 Chris Hickling 
 Shaun Robert 
 Tel: 01481 737600 
 
 Tulchan Group - Financial PR 
 James Macey White 
 Elizabeth Snow 
 Tel: 0207 353 4200 
 
 PraxisIFM Fund Services (UK) Limited - Administrator and Company 
  Secretary 
 Brian Smith 
 Ciara McKillop 
 Tel: 020 4513 9260 
 
 Nplus1 Singer Advisory LLP - Financial Adviser and Broker 
 James Maxwell 
 Carlo Spingardi 
 Tel: 020 7496 3000 
 
 Peel Hunt LLP - Financial Adviser and Broker 
 Luke Simpson 
 Liz Yong 
 Tel: 020 7418 8900 
 
 About RM Secured Direct Lending 
 
 RM Secured Direct Lending Plc ("RMDL" 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://rmdl.co.uk/investor-centre/monthly-factsheets/ 
 

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

NAVGPUQUCUPGGMA

(END) Dow Jones Newswires

April 16, 2021 02:00 ET (06:00 GMT)

Rm Infrastructure Income (LSE:RMII)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024

Rm Infrastructure Income (LSE:RMII)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024