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

RM Infrastructure IncomeAnnouncement

20/11/2024 07:00

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RNS Number : 8293M  RM Infrastructure Income PLC  20 November 2024

 RM Infrastructure Income Plc

 ("RMII" or the "Company")

 LEI: 213800RBRIYICC2QC958

 Net Asset Value

 NAV Performance

The NAV % Total Return for October 2024 was -0.79%, which takes the NAV %
 Total Return to 2.53% over the past six months, and 2.70% over the past 12
 months.

 The NAV as at 31(st) October 2024 was 87.04 pence per Ordinary Share, which
 was 0.691 pence lower than at 30(th) September 2024. This minor reduction in
 NAV was predominantly driven by the increase in discount rates for investment
 loan Ref #73 and Ref #39, respectively. Post period end, a short-term 6 months
 extension was provided to investment loan Ref #73, with said extension
 resulting in a higher discount rate to reflect the increased timing repayment
 risk. Regarding investment loan Ref #39, the discount rate was adjusted
 upwards to reflect a weaker trading environment for the German automobile
 sector. These negative valuation adjustments for the month of October 2024
 were balanced by a positive interest income of 0.325 pence per Ordinary Share,
 net of expenses.

Portfolio Activity

As at 31(st) October 2024, the Company's invested portfolio had an aggregate
 nominal outstanding of circa £86 million across 20 investments. The average
 yield was 12.03%, with a weighted average loan life remaining of circa 0.81
 years(10). Overall, the portfolio is 94% invested in private market assets and
 6% in public bonds.

 Cash balances at end of October 2024 stood at circa £4.3m 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 hold sufficient funds for corporate
 purposes.

 Further and post period end, RM successfully recovered c.£6m for investment
 loans Ref #80 and Ref #92, in line with previous assumptions shared with
 Shareholders and slightly ahead of the book value.

 The Company also announces that the Monthly Report for the period to 31st
 October 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/

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 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.

 On 20 December 2023, shareholders approved the implementation of the Managed
 Wind-down of the Company. Accordingly, the Company's investment objective was
 restated as follows: "The Company aims to conduct an orderly realisation of
 the assets of the Company, to be effected in a manner that seeks to achieve a
 balance between returning cash to Shareholders promptly and maximising value."

 For more information, please see
 https://rm-funds.co.uk/rm-infrastructure-income/

 

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