REG - Secured Income Fd - Review of Film Production Financing

Secured Income FundAnnouncement

01/06/2021 07:05

RNS Number : 3157A
  
Secured Income Fund PLC
  
01 June 2021
  
 

 1 June 2021                                         
Secured Income Fund plc
 
Review of Film Production Financing  
  
Secured Income Fund plc (LSE: SSIF) (the "Company"), a specialist secured lending income investment trust, listed in the UK, announces that it is undertaking a review of its Film Production Financing portfolio, which had a book value for all six loans of £9,586,462 as of April 30, 2021.
 
The portfolio comprises six film financings and the Fund Manager, KKV, has established that the restrictions and changed operating practices resulting from the COVID pandemic are likely to have a significantly bigger detrimental impact on these assets than originally anticipated. 
 
The review of the portfolio, is therefore expected to result in a substantial increase in provisioning against the book values of all six loans.  KKV is working proactively with the borrower to ensure the best possible outcome for shareholders.  A further announcement will be made once the review is concluded. 
 
 
For further information please contact:
 













Directors
David Stevenson (Chair)
Susan Gaynor Coley
Brett Miller
 
 


 
tel: +44 7973 873 785
tel: +44 7977 130 673
tel: +44 7770 447 338
 
 




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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