TIDMSSIF

RNS Number : 5501L

SQN Secured Income Fund PLC

30 April 2020

30 April 2020

SQN Secured Income Fund plc

Monthly Net Asset Value, Dividend and Fact Sheet

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 monthly net asset value ("NAV") and dividend update in addition to its monthly fact sheet.

Net Asset Value

The Company announces that, as at 31 March 2020, the unaudited estimated NAV per ordinary share (cum-income) was 89.05 pence.

The NAV total return in March 2020 was -0.56%.

The Company has increased loss provisions for two of our legacy venture debt positions that has resulted in a reduction in NAV of 1%. It does not relate to impairments to individual loans underwritten by the management team. Since the commencement of Covid 19 Emergency, our long established guidelines for valuing private debt positions have been skewed but we anticipate a return to more familiar parameters in coming months.

Dividend

The Company is pleased to announce the ninth monthly dividend for the year ending 30 June 2020:

 
 Dividend amount:   0.583 pence per Ordinary Share 
 Ex-date:           07 May 2020 
 Record date:       11 May 2020 
 Payment date:      29 May 2020

The Company has elected to designate all of the dividends for the period ended 31 March 2020 as interest distributions to its shareholders. In doing so, the Company is taking advantage of UK tax treatment by "streaming" income from interest-bearing investments into dividends that will be taxed in the hands of shareholders as interest income.

Fact Sheet

The Company announces that it has today published its monthly fact sheet to the end of March 2020. Please follow the link below to access the fact sheet, which is also available to download from the Company's website.

http://www.rns-pdf.londonstockexchange.com/rns/5501L_1-2020-4-30.pdf

( http://www.sqncapital.com/managed-funds/sqn-secured-income-fund/about/ )

For further information please contact:

 
 
 SQN Asset Management Limited 
  Dawn Kendall, Investment Management      tel: +44 1932 575 
  Nicola Bird, Relationship Management     888 
  Catherine Halford, Sales 
 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 principal responsible for managing the portfolio is Dawn Kendall.

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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