SQN Secured Income Fund PLC Monthly Net Asset Values and Fact Sheets (9977P)
16 Ottobre 2019 - 8:00AM
UK Regulatory
TIDMSSIF
RNS Number : 9977P
SQN Secured Income Fund PLC
16 October 2019
16 October 2019
SQN Secured Income Fund plc
Monthly Net Asset Values and Fact Sheets
SQN Secured Income Fund plc (LSE: SSIF) (the "Company"), a
specialist secured lending income investment trust, listed in the
UK, is pleased to provide its amended June 2019 and July 2019
monthly net asset values ("NAV") and monthly fact sheets, together
with its August 2019 NAV and monthly fact sheet. The data herein is
confirmation of guidance provided in an RNS release of 8 October
2019 and is reflected in the year end financial report also
released today.
Amended 30 June 2019 Net Asset Value
Subsequent to the year end, the Company became aware of
information in relation to loans on two platforms. In addition, a
readjustment to certain credit loss allowances was made to better
reflect the underlying conditions of the inherited portfolio and
revised judgements of the provisions required under IFRS 9. As a
result, the loss allowance as at 30 June 2019 for those two
platforms has been amended, resulting in a difference in the net
asset value from that announced on 25 July 2019 as follows:
30 June 2019 30 June 2019
GBP'000 pence per share
Net asset value announced on 25 July
2019 51,153 97.04
Increase in platform loss allowance
and associated decrease in accrued
loan interest (1,024) (1.94)
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Amended net asset value 50,129 95.10
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Amended 31 July 2019 Net Asset Value
The above adjustment to the 30 June 2019 net asset value, and
the above noted readjustment to certain credit loss allowances, had
a knock-on effect on the 31 July 2019 net asset value announced on
29 August 2019 as follows:
31 July 2019 31 July 2019
GBP'000 pence per share
Net asset value announced on 29 August
2019 51,117 96.97
Adjustment to 30 June 2019 NAV (1,024) (1.94)
Increase in platform loss allowance
and associated decrease in accrued
loan interest (34) (0.06)
------------ ------------
Amended net asset value 50,059 94.97
------------ ------------
31 August 2019 Net Asset Value
The Company announces that, as at 31 August 2019, the unaudited
estimated NAV per ordinary share (cum-income) was 94.93 pence.
The NAV total return in August 2019 was 0.27% (July 2019: 0.47%
(amended from 0.53% announced on 29 August 2019)).
Fact Sheet
The Company announces that it has today published its monthly
fact sheet to the end of August 2019, together with its adjusted
monthly fact sheets for June 2019 and July 2019. Please follow the
link below to access the fact sheets, which are also available to
download from the Company's website.
http://www.rns-pdf.londonstockexchange.com/rns/9977P_1-2019-10-15.pdf
(http://www.sqncapital.com/managed-funds/sqn-secured-income-fund/about/)
For further information please contact:
SQN Asset Management Limited tel: +44 1932 575
Neil Roberts/Jeremiah Silkowski/Dawn 888
Kendall
finnCap Ltd. tel: +44 20 7220 0500
Corporate Finance:
William Marle / Giles Rolls
Sales:
Mark Whitfeld
Kepler Partners LLP tel: +44 20 3384 8790
Hugh van Cutsem
Buchanan Communications tel: +44 20 7466 5000
Charles Ryland/Henry Wilson
Notes to Editor
The Company aims to provide shareholders with attractive
risk-adjusted returns, principally in the form of regular,
sustainable dividends, through investment predominantly in a range
of secured loans and other secured loan-based instruments
originated through a variety of channels and diversified by way of
asset class, geography and duration.
The Company's Investment Managers are SQN Capital Management,
LLC, a Registered Investment Advisor with the United States
Securities and Exchange Commission and its subsidiary, SQN Asset
Management Limited. The principals responsible for managing the
portfolio are Jeremiah Silkowski, Dawn Kendall and Neil
Roberts.
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.
END
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