REG - Secured Income Fd - Portfolio Manager Update

Secured Income FundAnnouncement

25/06/2021 17:00

RNS Number : 2216D
  
Secured Income Fund PLC
  
25 June 2021
  
 

 
25 June 2021
 
Secured Income Fund plc
("SSIF" or the "Company")
 
LEI: 213800TR2S2TT6PKVH57
 
 
Portfolio Manager Update
 
 
 
The Board of SSIF is aware that KKV Investment Management Limited ("KKVIM"), the Company's portfolio manager, is in a dispute with SQN Capital Management, LLC ("SQN"), in relation to amounts payable by KKVIM to SQN pursuant to an agreement reached at the time KKVIM was appointed as the Company's portfolio manager in June 2020 (the "Dispute"). SQN has appointed a Fixed Charge Receiver to seek to collect amounts it claims are owned to it by KKVIM.
 
While the Dispute does not concern the Company directly, the Fixed Charge Receiver has contacted the Company requesting that payments that would otherwise be made by the Company to KKVIM pursuant to the investment management agreement, be instead paid to SQN. KKVIM is challenging the appointment of the Fixed Charge Receiver.
 
The Dispute does not impact the ongoing management of the portfolio or the realisation of the Company's assets, however, the Company will continue to monitor the situation and any impact it may have on KKVIM and the Company.
 
For further information please contact:
 







 




Directors
David Stevenson (Chair)
Susan Gaynor Coley
Brett Miller
 
 


 
tel: +44 7973 873785
tel: +44 7977 130673
tel: +44 7770 447338
 
 




KKV Investment Management Ltd
Catherine Halford Riera
 
 


Investor.communications@kkvim.com 




finnCap Ltd.
Corporate Finance: William Marle
Sales: Mark Whitfeld


tel: +44 20 7220 0500
 
 








 

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