REG - Fair Oaks Income Ltd Fair Oaks Incm- FA17 Fair Oaks Income2014 - Annual Financial Report

Fair Oaks IncomeAnnouncement

19/04/2024 07:00

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RNS Number : 2440L  Fair Oaks Income Limited  19 April 2024

19 April 2024

 

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)

 

Annual Financial Report

 

Fair Oaks Income Limited (the "Company") is pleased to release the Annual
Report and Audited Financial Statements for the year ended 31 December 2023.

 

Highlights

 

Fair Oaks Income Limited's (the "Company") Net Asset Value ("NAV") return per
2021 Share was 12.98% (31 December 2022: -0.90%) for the year ended

31 December 2023 on a total return basis (with dividends reinvested). The NAV
return per Realisation Share was 13.82% (31 December 2022: 0.5%) for the year
ended 31 December 2023 on the same basis

 

As at 31 December 2023, the Company's total market capitalisation was US$238.6
million, comprising US$210.1 million of 2021 Shares and

US$28.4 million of Realisation Shares.

 

The Company's 2021 shares closed at a last-price of US$0.5500 on

31 December 2023 (31 December 2022: US$0.4900). The 2021 Shares traded at an
average discount to NAV of 11.71% during the year ended

31 December 2023 (31 December 2022: Discount 10.15%).

 

The Company's Realisation shares closed at a last-price of US$0.5700 on

31 December 2023 (31 December 2022: US$0.5650). The Realisation Shares traded
at an average discount to NAV of 4.29% during the year ended

31 December 2023 (31 December 2022: Premium 1.30%).

 

The Company declared dividends of 8.00 US cents per 2021 Share and Realisation
Share in the year ended 31 December 2023 (31 December 2022: 9.50 US cents per
2021 Share and Realisation Share).

 

Click on, or paste the following link into your web browser to view the
associated PDF document.

 

http://www.rns-pdf.londonstockexchange.com/rns/2440L_1-2024-4-18.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2440L_1-2024-4-18.pdf)

 

LEI: 2138008KETEC1WM5YP90

 

Enquiries:

 

Fair Oaks Income Limited

Email: contact@fairoaksincome.com (mailto:contact@fairoaksincome.com)

Web: www.fairoaksincome.com (http://www.fairoaksincome.com)

 

Fair Oaks Capital Limited

Investor Relations

DDI: +44 (0) 20 3034 0400

Email: ir@fairoakscap.com (mailto:ir@fairoakscap.com)

 

Sanne Fund Services (Guernsey) Limited

Email: fairoaksgrp@apexfs.group (mailto:fairoaksgrp@apexfs.group)

 

Numis Securities Limited

Nathan Brown, Corporate Broking

DDI: +44 (0) 20 7260 1426

Email: n.brown@numis.com (mailto:n.brown@numis.com)

 

Liberum Capital Limited

Chris Clarke, Investment Banking

DDI: +44 (0) 20 3100 2190

Email: chris.clarke@liberum.com (mailto: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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