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

RM Infrastructure IncomeAnnouncement

20/12/2024 07:00

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RNS Number : 8320Q  RM Infrastructure Income PLC  20 December 2024

 RM Infrastructure Income Plc

 ("RMII" or the "Company")

 LEI: 213800RBRIYICC2QC958

 Net Asset Value

 NAV Performance

The NAV % Total Return for November 2024 was 0.52%, which takes the NAV %
 Total Return to 0.66% over the past six months, and 4.18% over the past 12
 months.

 The NAV as at 30(th) November 2024 was 85.87 pence per Ordinary Share, which
 was 1.17 pence lower than at 31(st) October 2024. This reduction in NAV was
 predominantly driven by the Company's Q3 dividend of 1.625 pence per share,
 announced in October 2024 and paid in November 2024. This was balanced by (1)
 a positive net interest income of 0.243 pence per share, slightly lower than
 forecasted due to a number of pre-year-end accounting adjustments regarding
 the Company's run-rate expenses; (2) a small valuation uplift of 0.481 pence
 per share primarily driven by discount rate movements; and (3) incentive fee
 buybacks(13) which resulted in a NAV reduction of 0.27 pence per share.

Summary for November 2024 (pence per share)
 Net interest income             +0.243p
 Change in portfolio valuations  +0.481p
 Incentive fee buybacks(13)      -0.270p
 Dividend                        -1.625p
 Net NAV Movement                -1.170p

 

Portfolio Activity

As at 30(th) November 2024, the Company's invested portfolio had an aggregate
 nominal outstanding of circa £79 million across 18 investments. The average
 yield was 12.08%, 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.

 During the reporting period, 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.

 Cash balances at end of November 2024 stood at circa £8.5m of which circa
 £1.5m will be retained by the Company largely to fund remaining committed
 facilities which have yet to be drawn as well as to hold sufficient funds for
 corporate purposes.

 The Company also announces that the Monthly Report for the period to 30(th)
 November 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.

 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/

 

Portfolio Activity

As at 30(th) November 2024, the Company's invested portfolio had an aggregate
nominal outstanding of circa £79 million across 18 investments. The average
yield was 12.08%, 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.

During the reporting period, 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.

Cash balances at end of November 2024 stood at circa £8.5m of which circa
£1.5m will be retained by the Company largely to fund remaining committed
facilities which have yet to be drawn as well as to hold sufficient funds for
corporate purposes.

The Company also announces that the Monthly Report for the period to 30(th)
November 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.

 

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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