Issue of Shares

RNS Number : 7514W

Fair Oaks Income Limited

16 November 2017

 

Fair Oaks Income Limited

16 November 2017

FAIR OAKS INCOME 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)

ISSUE OF SHARES

Further to the announcement on 13 November 2017, the Board is pleased to announce an issue of 57,350,000 new 2017 Shares (the "New Shares") at an issue price of US$1.0075.

The Company has been notified by the General Partner of FOMC II (the "Master Fund") that the Master Fund expects to receive in November $14 million as a result of the early amortization at par of two mezzanine investments. The realised total return on the two mezzanine investments is 16.1% and 19.1% respectively. As a result, the Board considers that the amount raised is sufficient to complete the previously discussed primary investments.

Admission of the New Shares is scheduled for 17 November 2017 and an application has been made to the London Stock Exchange for the New Shares to be admitted to trading on the Specialist Fund Segment of the Main Market.

Following the issue, the Company will have 418,274,938 2017 Shares in issue.

LEI: 2138008KETEC1WM5YP90

Enquiries:

Fair Oaks Income Limited

Email: [e-mail]

Web: www.fairoaksincome.com

Fair Oaks Capital Limited

Investor Relations

DDI: [phone]

Email: [e-mail]

Praxis Fund Services Limited

Ben Le Prevost

DDI: [phone]

Email: [e-mail]

Numis Securities Limited

Nathan Brown, Corporate Broking

DDI: [phone]

Email: [e-mail] 

Fair Oaks Income Limited

Fair Oaks Income Limited is a registered closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange (now the Specialist Fund Segment of the Main Market of the London Stock Exchange) on 12 June 2014.

The investment policy of the Company is to invest (either directly and/or indirectly through the Master Fund and/or Master Fund II) in 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 remaining invested in the Master Fund and making new investments in Master Fund II.

Notes

1) The General Partner's estimate of the potential total return for this investment in calculated across certain scenarios and subject to certain assumptions. This and any other references herein to potential future returns or distributions are targets and not forecasts and there can be no guarantee or assurance that they will be achieved.

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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