Net Asset Value(s)

RM Infrastructure Income PLC

18 September 2023

 

RM Infrastructure Income Plc

("RMII" or the "Company")

LEI: 213800RBRIYICC2QC958

Net Asset Value

NAV The NAV % Total Return for August 2023 was -0.44%, which takes the NAV % Total Return to +1.69% over the past six months, and +3.95% over the past 12 months. The NAV as at 31st August 2023 was 91.80 pence per Ordinary Share, which was 0.40 pence lower than at 31st July 2023. This overall loss comprised positive interest income of 0.59 pence per Ordinary Share, net of expenses, and a decrease in portfolio valuations of 0.99 pence per Ordinary Share. Portfolio Activity As at 31st August 2023, the Company's invested portfolio had an aggregate valuation of £122 million across 38 investments. The average yield was 10.23%, with a weighted average loan life remaining of circa 1.79 years10. Overall, the portfolio is 96% invested in private market assets and 4% in public bonds. The Investment Manager's focus on creating a portfolio of high yielding and short duration loans that do not hold significant exposure to interest rate movements, ensures the portfolio remains well positioned against any further interest rate increases by global central banks. The loss for the period was predominantly driven by investment loan ref #74, a junior secured loan secured against 5 fully operational student accommodation assets in the UK, as the value was brought down to reflect the appointed receiver's latest recovery update. Update on Strategic Review On 6th September 2023, RMII's Board announced that following extensive consultation with its advisers and shareholders regarding its strategic review of the Company, and despite having received various approaches from third parties, the Board has decided to put forward proposals for a managed wind-down of the Company. The Board intends to publish a shareholder circular by the end of October 2023 to convene a general meeting at which it will seek approval from shareholders to the managed wind-down and any related matters required to facilitate and orderly realisation. Shareholders should also note that prior to publication of the circular, RM will explore the possibility of offering an opportunity for shareholders who wish to maintain their exposure to the strategy to roll-over their interests in RMII into an alternative fund structure to be managed by RM.

The Company also announces that the Monthly Report for the period to 31 August 2023 is now available to be viewed on the Company website:

https://rm-funds.co.uk/rm-infrastructure-income/rm-funds-investor-monthly-fact-sheets-2/

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For further information, please contact:

RM Capital Markets Limited - Investment Manager

James Robson

Thomas Le Grix De La Salle

Tel: [phone]

FundRock Management Company (Guernsey) Limited - AIFM

Chris Hickling

Dave Taylor

Tel: [phone]

Apex Listed Companies Services (UK) Ltd - Administrator and Company Secretary

Ciara McKillop

Tel: [phone]

Singer Capital Markers Advisory LLP - Financial Adviser and Broker

James Maxwell

Asha Chotai

Tel: [phone]

About RM Infrastructure Income

RM Infrastructure Income Plc ("RMII" or the "Company") is a closed-ended investment trust established to invest in a portfolio of secured debt instruments.

The Company aims to generate attractive and regular dividends through loans sourced or originated by the Investment Manager with a degree of inflation protection through index-linked returns where appropriate. Loans in which the Company invests are predominantly secured against assets such as real estate or plant and machinery and/or income streams such as account receivables.

For more information, please see

https://rm-funds.co.uk/rm-infrastructure-income/

 

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