Scrip Dividend Reference Price

RNS Number : 3044C

Fair Oaks Income Limited

18 January 2018

 

Fair Oaks Income Limited

18 January 2018

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)

SCRIP DIVIDEND REFERENCE PRICE

Further to the announcement made on 2 January 2018, regarding the Company offering a scrip dividend alternative, the Company confirms that the scrip dividend reference price for the 2017 Shares to be issued to shareholders electing to receive the scrip dividend alternative for the interim dividend for the month ended 31 December 2017, payable on 9 February 2018, will be USD 1.02 per share.

The scrip reference price is calculated as the higher of (i) the prevailing net asset value per 2017 Share; and (ii) the average of the Company's closing middle market price of a 2017 Share for the five consecutive dealing days commencing on the ex-dividend date of 11 January 2018 (which was USD 1.02). The estimated unaudited net asset value per 2017 Share as of 29 December 2017 was USD 1.0016 (or USD 0.9441 adjusted to exclude the 5.75 US cents interim dividend for the month ended 31 December 2017 to which the new 2017 Shares will not be entitled).

Shareholders who do not wish to elect for shares do not need to complete an election form.

The expected timetable for the payment of the interim dividend is set out below:

Final date for receipt by the Receiving Agent of forms of election                            5.00pm on 26 January 2018

Posting of cheques, tax vouchers and certificates                                                       8 February 2018

Dividend payment date and CREST payment instructions released                          9 February 2018

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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