Dividend Declaration

RNS Number : 4743J

Fair Oaks Income Fund Limited

17 December 2015

 

Fair Oaks Income Fund Limited

17 December 2015

FAIR OAKS INCOME FUND LIMITED (the "Company")

(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)

DIVIDEND DECLARATIONS

Ordinary Share Dividend for Month Ended 31 December 2015

The Directors of Fair Oaks Income Fund Limited (the "Company") have declared that an Ordinary Share interim dividend will be payable as follows in respect of the month ended 31 December 2015:

Ex-Dividend Date:                                                24 December 2015

Record Date:                                                         29 December 2015

Payment Date:                                                      13 January 2016

Dividend per Ordinary Share:                           2.226 US cents per Ordinary Share

This twelfth interim dividend aggregates the Ordinary Share dividends for the year ending 31 December 2015 to an amount equal to substantially all of the Company's 2015 net income attributable to the Ordinary Shares. The aggregate dividends declared in respect of 2015 are 9.926 US cents per Ordinary Share, equivalent to a yield of approximately 9.7% of the year's opening NAV per Ordinary Share.

C Share Dividend for Period from issue to 31 December 2015

The Directors of Fair Oaks Income Fund Limited have declared that a C Share interim dividend will be payable as follows in respect of the period from issue on 17 August 2015 to 31 December 2015:

Ex-Dividend Date:                                                24 December 2015

Record Date:                                                         29 December 2015

Payment Date:                                                      13 January 2016

Dividend per C Share:                                         2.354 US cents per C Share

This C Share dividend equals an amount equal to substantially all of the Company's 2015 net income attributable to the C Shares. This C Share dividend is equivalent to an annualised yield of approximately 6.4% of the $1 issue price per C Share.

Enquiries:

Fair Oaks Income Fund Limited

Email: [e-mail]

Web: www.fairoaksincomefund.com

Fair Oaks Capital Limited

Roger Coyle

DDI: [phone]

Email: [e-mail]

Praxis Fund Services Limited

Ben Le Prevost

DDI: [phone]

Email: [e-mail]

Camarco

Edward Gascoigne-Pees

Hazel Stevenson

DDI: [phone]

Email:  [e-mail] / [e-mail]

Numis Securities Limited

Nathan Brown, Corporate Broking

DDI: [phone]

Email: [e-mail] 

Fair Oaks Income Fund Limited

Fair Oaks Income Fund Limited is an authorised closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange on 12 June 2014. The Company's ordinary shares have the TIDM: FAIR and ISIN: GG00BMBN1D14 and the C shares have the TIDM: FAIC and ISIN: GG00BYM6LJ91.

The investment policy of the Company is to seek exposure to US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing. The Company will implement its investment policy by investing in FOIF LP (the "Master Fund").

The investment objective of the Company is to generate attractive, risk-adjusted returns, principally through income distributions. The Company announced on 16 January 2015 that (1) on the basis of income projections as at that date, the Board planned to declare eleven monthly dividends of a minimum of 0.7 US cents per share (see Note 1) and a larger twelfth interim dividend such that, in the opinion of the Directors, substantially all net income generated by the Company in 2015 is distributed to shareholders; and (2) the Company will continue to target an annual net total return of 12-14% (see Note 1) over the planned life of the Master Fund and it is expected that dividends will constitute the principal element of the return to the Company's shareholders.

Notes

This document is for information purposes only and is not an offer to invest. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decisions.

 

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