Reinvestment of Management Fees

RNS Number : 2982S

Fair Oaks Income Fund Limited

16 March 2016

 

Fair Oaks Income Fund Limited

16 March 2016

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)

REINVESTMENT OF MANAGEMENT FEES

Fair Oaks Income Fund Limited (the "Company") announces that the General Partner of the Master Fund (the "GP") has applied to reinvest into the Company's ordinary shares (the "Shares") an amount equivalent to 25% of the advisory and management fees paid to Fair Oaks from 1 December 2016 to 29 February 2016.

In accordance with the agreement disclosed in the Company's prospectus, the reinvestment will be effected by the issue of new Ordinary Shares at the prevailing NAV per Ordinary Share. 215,207 new Ordinary Shares will be issued on 21 March 2016 at $0.7682 being the NAV per Share as at 29 February 2016 minus the February dividend to which the new Shares will not be entitled.

Application will be made for the new Shares to be admitted to trading on the Specialist Fund Market of the London Stock Exchange. It is expected that dealings in the new Shares will commence at 8 a.m. on 21 March 2016.

Following this issue the Company's issued share capital will consist of 320,662,090 Ordinary Shares. The Company holds no shares in treasury.  Accordingly, the total number of voting rights in the Company will be 320,662,090.

Enquiries:

Fair Oaks Income Fund Limited

Email: [e-mail]

Web: www.fairoaksincomefund.com

Fair Oaks Capital Limited

Hayley Stewart

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.

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 Fair Oaks Income Fund LP (the "Master Fund").

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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