REG - Secured Income Fd - Cancellation of Capital Redemption Reserve

Secured Income FundAnnouncement

15/03/2023 10:45

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RNS Number : 0739T  Secured Income Fund PLC  15 March 2023

15 March 2023

Secured Income Fund plc

Legal Entity Identifier: 213800TR2S2TT6PKVH57

Confirmation of Cancellation of Capital Redemption Reserve

At a general meeting of Secured Income Fund plc (the "Company") held on 15
December 2022, a special resolution of shareholders approving, subject to the
confirmation of the High Court of Justice (the "High Court"), the cancellation
of the entire amount standing to the credit of the Company's capital
redemption reserve (the "Reduction of Capital") was passed.

The Company is now pleased to announce that the final hearing in the Court
process to cancel the amount standing to the credit of its capital redemption
reserve was held on 28 February 2023 and an order was pronounced by the High
Court confirming the cancellation of that part of the Company's share capital
(the "Order"). The Order has now been registered at Companies House, together
with a statement of capital approved by the High Court, and the Reduction of
Capital is now effective with all steps required in connection with the
process having been completed.

As explained in the Company's circular to shareholders dated 22 November 2022,
the purpose of the Reduction of Capital is to improve the Company's
distributable reserves position. The Company is pleased to confirm that the
Reduction of Capital has resulted in an increase of £19.5 million in the
Company's distributable reserves.

For further information please contact:

 

 Directors

 David Stevenson (Chair)            tel: +44 7973 873785

 Susan Gaynor Coley                 tel: +44 7977 130673

 Brett Miller                       tel: +44 7770 447338

 finnCap Ltd.                       tel: +44 20 7220 0500

 Corporate Finance: William Marle

 Sales: Mark Whitfeld

 

 

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