REG - ICG-Longbow Senior - Dividend Announcement and Portfolio Update

ICG Longbow Senior Secured UK Property Debt InvestmentsAnnouncement

06/04/2023 15:45

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RNS Number : 6824V  ICG-Longbow Snr Sec UK Prop DebtInv  06 April 2023

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06 April 2023

ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)

Dividend Announcement and Portfolio Update

 

The Company is pleased to declare an interim dividend of 0.5 pence per share
covering the period 1 November 2022 to 31 January 2023.

 

The dividend is fully covered by the earnings of the Company during the
period.  The Company's loan portfolio and the interest income it generates
continues to reduce, and as a result the announced dividend is at a lower
level than prior quarters.  In line with previous guidance, dividends will
continue to be paid only as cashflow and earnings prudently allow.

 

The Company has received a partial £4.2 million repayment of the Northlands
loan, following sale of certain of the properties securing the loan. In line
with the borrower's disposal plan, certain further properties are under offer
for sale or have had contracts exchange, with additional repayments expected
in the near term.  Full recovery of this total outstanding loan balance is
expected.  On receipt of these repayments, the Company will continue its
programme of capital distribution to shareholders and a further announcement
will be made in due course.

 

In early May 2023, the Company will provide a full portfolio update on release
of its upcoming Annual Report and audited accounts.

 

 Distribution period:            01 November 2022 to 31 January 2023
 Distribution amount per share:  0.5 pence
 Ex-dividend date:               20 April 2023
 Dividend record date:           21 April 2023
 Payment date:                   19 May 2023

 

For further information, please contact:

 

 Ocorian Administration (Guernsey) Limited
 Louise Manklow                                               +44 (0)14 8174 2742

 Cenkos Securities:
 Will Talkington                                              +44 (0)20 7397 1910

 Daniel Balabanoff                                            +44 (0)20 7397 1909

 ICG Real Estate

 David Mortimer                                               +44 (0)20 3201 7532

 

 

Further information on the Company can be found on its website at
http://www.lbow.co.uk (http://www.lbow.co.uk) .

ICG Longbow LEI: 2138008BKBH3OP2CA764

 

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