REG - RM Infrastructure RM SecDirect - RMDC - Shareholder Update

RM Infrastructure IncomeAnnouncement

10/07/2023 07:00

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RNS Number : 4175F  RM Infrastructure Income PLC  10 July 2023

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN
OR INTO ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION
FOR WHICH THE SAME COULD BE UNLAWFUL.

 

RM Infrastructure Income PLC

(the ''Company'' or "RMII")

 

LEI: 213800RBRIYICC2QC958

 

Shareholder Update

 

 

On 23 May 2023, RMII announced that as part of its review of the Company's
strategy it would undertake a shareholder consultation. Since that
announcement the Board, the Investment Adviser and the Company's joint brokers
have consulted widely with RMII's major shareholders.

The shareholder consultation set out to cover the following topics: a
continuation of the Company's existing investment policy and strategy, a full
or partial exit opportunity, a combination of the Company's assets with
another suitable investment company or fund and a managed wind-down.

In general, consulted shareholders were overwhelmingly supportive of the
Company's management and performance, as well as its investment focus and
strategy. Shareholders did however highlight the Company's small scale which
has created challenges in generating improved liquidity in the Company's
shares and restricted the Company's ability to grow. To that end, it was
determined that reducing the size of the Company through a partial exit
opportunity would only exacerbate these challenges.

Progress concerning a potential combination of the Company's assets with
another suitable investment company or fund remains limited. As announced on
23 May 2023, the Company had received a non-binding indicative proposal which
would involve a combination of all the Company's assets with another
investment company under Section 110 of the Insolvency Act 1986. However, the
Board has still not received more detailed proposals from this counterparty.
The Board and their advisers received two other initial proposals, one of
which is under consideration but remains at a very early stage and there is no
certainty that it will develop into a recommendable transaction. For the
avoidance of doubt, none of these approaches anticipate any offer for the
Company, recommended or otherwise, under the City Code on Takeovers and
Mergers.

The Board remains conscious of the size of the Company, the discount to which
its shares trade at and the need to maximise shareholder value and the Board
expects to put forward proposals regarding the future of the Company as soon
as possible.

 

For further information, please contact:

 

 RM Infrastructure Income plc  RMInfraCoSecmailbox@apexfs.group (mailto:RMInfraCoSecmailbox@apexfs.group)

 Norman Crighton
 Singer Capital Markets        020 7496 3000

 James Maxwell

 Asha Chotai

 Peel Hunt LLP                 020 7418 8900

 Luke Simpson

 Liz Yong

 

 

About RM Infrastructure Income PLC

 

The Company aims to generate attractive and regular dividends and positive
social impact by lending to assets at the forefront of providing essential
services to society.

 

Its diversified portfolio of 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.

 

 

About RM Funds

RM Funds is an alternative asset manager. Founded in 2010, with offices in
Edinburgh, and London, the firm manages capital on behalf of institutional
investors, multi-asset allocators, wealth managers and retail investors. RM
Funds focuses on real asset investing across liquid alternatives and private
markets.

 

RM Funds is a delivery partner to the British Business Bank in connection with
the Coronavirus Business Interruption Loan Scheme. RM Funds is a trading name
of RM Capital Markets Limited.

 

RM Funds is a signatory to the Principles of Responsible Investment.

 

 

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