Secured Income Fd - Review of Material Loan

Secured Income Fund

05/10/2021 11:28

RNS Number : 0761O

Secured Income Fund PLC

05 October 2021

 

5 October 2021                                         

Secured Income Fund plc

 

Review of Material Loan 

  

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 a loan that had a book value of £5,619,975 at 30 June 2021.

 

The carrying value of the loan had been based upon repayment of the loan at the end of September, which has not yet occurred due to a delay in the borrower obtaining refinancing elsewhere. The review of the loan is expected to result in a substantial increase in provisioning.  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
Investor.communications@kkvim.com
finnCap Ltd.
Corporate Finance: William Marle
Sales: Mark Whitfeld
tel: +44 20 7220 0500

 

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