REG - RM Infrastructure RM SecDirect - RMDC - Net Asset Value(s)

RM Infrastructure IncomeAnnouncement

18/09/2024 07:00

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RNS Number : 5975E  RM Infrastructure Income PLC  18 September 2024

 RM Infrastructure Income Plc

 ("RMII" or the "Company")

 LEI: 213800RBRIYICC2QC958

 Net Asset Value

 NAV Performance

The NAV % Total Return for August 2024 was 1.69%, which takes the NAV % Total
 Return to 3.67% over the past six months, and 5.67% over the past 12 months.

 The NAV as at 31(st) August 2024 was 88.59 pence per Ordinary Share, which was
 0.127 pence lower than at 31(st) July 2024. This minor reduction in NAV was
 predominantly driven by the Q2 2024 dividend which was announced in August
 2024 and paid for in September 2024. Excluding this Dividend payment, the NAV
 rose by 1.498 pence per Ordinary Share, driven by a positive interest income
 of 0.228 pence per Ordinary Share, net of expenses, and an increase in
 portfolio valuation of 1.270 pence per Ordinary Share.

Portfolio Activity

As at 31(st) August 2024, the Company's invested portfolio had an aggregate
 nominal outstanding of circa £90 million across 21 investments. The average
 yield was 11.57%, with a weighted average loan life remaining of circa 1.22
 years(10). Overall, the portfolio is 96% invested in private market assets and
 4% in public bonds.

 During the reporting month, Investment Loans Ref #81 and Ref #98 were repaid
 in full at par, c.£0.7m. Regarding Ref #98, this prepayment was achieved well
 in advance of its legal maturity of July 2028 and will further assist in
 reducing the tail-end of the invested portfolio.

 Cash balances at end of August 2024 stood at circa £18.6m of which circa
 £1.5m will be retained by the Company largely to fund committed facilities
 which have yet to be drawn as well as to retain required working capital. In
 addition, the Company will retain funds to cover the forecasted tender offer
 related costs as well to hold sufficient funds for corporate purposes.

 Further and post period end, RM successfully recovered £3.6m for investment
 loan Ref #79, in line with previous assumptions shared with Shareholders.

 The Company announced on 3(rd) September 2024 the publication of a circular to
 Shareholders which contains details of a tender offer of up to £20m to be
 made to Shareholders. Final details for said tender offer are expected to be
 announced on 19 September 2024 with completion of the tender offer expected on
 26 September 2024.

 The Company also announces that the Monthly Report for the period to 31(st)
 August 2024 is now available to be viewed on the Company website:

 https://rm-funds.co.uk/rm-infrastructure-income/rm-funds-investor-monthly-fact-sheets-2/

 END

 For further information, please contact:
 RM Capital Markets Limited - Investment Manager
 James Robson
 Thomas Le Grix De La Salle
 Tel: 0131 603 7060

 FundRock Management Company (Guernsey) Limited - AIFM
 Chris Hickling
 Dave Taylor
 Tel: 01481 737600

 Apex Listed Companies Services (UK) Ltd - Administrator and Company Secretary
 Jenny Thompson

 Tel: 07767102572

 Singer Capital Markers Advisory LLP - Financial Adviser and Broker
 James Maxwell
 Asha Chotai
 Tel: 020 7496 3000

 About RM Infrastructure Income

 RM Infrastructure Income Plc ("RMII" 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://rm-funds.co.uk/rm-infrastructure-income/

 

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