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

RM Infrastructure IncomeAnnouncement

24/04/2026 07:00

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RNS Number : 7347B  RM Infrastructure Income PLC  24 April 2026

 RM Infrastructure Income Plc

 ("RMII" or the "Company")

 LEI: 213800RBRIYICC2QC958

 NAV Performance

The Company's NAV % Total Return for the quarter was -0.73%. The NAV % Total
 Return over the last twelve months was -8.88% and inception to date (ITD)
 30.18%.

 The NAV as at 31(st) March 2026 was 74.77 pence per Ordinary Share. A
 breakdown of this negative NAV return of -0.55 pence per share in the first
 quarter of 2026 is provided below:

Summary for March 2026 (pence per share)
 Net interest income             -0.044p
 Change in portfolio valuations  -0.439p
 Other                           -0.067p
 Net NAV Movement                -0.550p

 

 In line with expectations and as communicated to Shareholders, the Net
 Interest Income has sizeably reduced versus the previous year. This is
 reflective of (1) a smaller pool of income earning investments (2) the
 portfolio now being heavily biased towards payment-in-kind loans, against
 which bad debt provisions are being made as the Company seeks to have a
 conservative revenue recognition approach, and (3) fixed costs of operating a
 listed investment trust.

 Portfolio Update

 As at 31(st) March 2026, the Company's invested portfolio had an aggregate
 market value of circa £38 million versus an aggregate nominal outstanding
 balance of circa £57 million. This is invested across 16 loan investments,
 two equity positions, and two wholly owned properties.

 As announced during the reporting period and by way of a further update
 announcement released at the same time as the March '26 NAV announcement, the
 Company intends to complete its third tender offer early May 2026, aiming to
 distribute £12.4 million of capital back to Shareholders. Assuming completion
 of said third tender offer, RM Funds will have successfully managed to return
 circa 50% of the issued share capital back to Shareholders, substantially in
 line with the guidance provided to Shareholders at the start of the Managed
 Wind Down process in December 2023.

 Post the above-mentioned tender offer, the Company is expected to hold circa
 £7.8 million of cash, of which (1) £3 million has been allocated for Energie
 Fitness, as disclosed in the Q4 2025 factsheet, and (2) circa £4.8 million
 will be retained by the Company for working capital purposes.

 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
 Grace Goudar
 Tel: 020 4534 0665

 Singer Capital Markers Advisory LLP - Financial Adviser and Broker
 James Maxwell
 James Fischer
 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.

 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/

 

In line with expectations and as communicated to Shareholders, the Net
Interest Income has sizeably reduced versus the previous year. This is
reflective of (1) a smaller pool of income earning investments (2) the
portfolio now being heavily biased towards payment-in-kind loans, against
which bad debt provisions are being made as the Company seeks to have a
conservative revenue recognition approach, and (3) fixed costs of operating a
listed investment trust.

Portfolio Update

As at 31(st) March 2026, the Company's invested portfolio had an aggregate
market value of circa £38 million versus an aggregate nominal outstanding
balance of circa £57 million. This is invested across 16 loan investments,
two equity positions, and two wholly owned properties.

As announced during the reporting period and by way of a further update
announcement released at the same time as the March '26 NAV announcement, the
Company intends to complete its third tender offer early May 2026, aiming to
distribute £12.4 million of capital back to Shareholders. Assuming completion
of said third tender offer, RM Funds will have successfully managed to return
circa 50% of the issued share capital back to Shareholders, substantially in
line with the guidance provided to Shareholders at the start of the Managed
Wind Down process in December 2023.

Post the above-mentioned tender offer, the Company is expected to hold circa
£7.8 million of cash, of which (1) £3 million has been allocated for Energie
Fitness, as disclosed in the Q4 2025 factsheet, and (2) circa £4.8 million
will be retained by the Company for working capital purposes.

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

Grace Goudar

Tel: 020 4534 0665

Singer Capital Markers Advisory LLP - Financial Adviser and Broker

James Maxwell

James Fischer

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.

 

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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