Net Asset Value(s)

RM Infrastructure Income PLC

17 May 2024

 

RM Infrastructure Income Plc

("RMII" or the "Company")

LEI: 213800RBRIYICC2QC958

Net Asset Value

NAV Performance The NAV % Total Return for April 2024 was 0.39%, which takes the NAV % Total Return to 0.17% over the past six months, and 2.63% over the past 12 months. The NAV as at 30th April 2024 was 88.06 pence per Ordinary Share, which was 0.34 pence higher than at 31st March 2024. This overall gain comprised positive interest income of 0.51 pence per Ordinary Share, net of expenses, and a decrease in portfolio valuations of 0.16 pence per Ordinary Share led by discount rate movements. As disclosed in the 2023 Annual Report the audited year-end NAV of December 2023 was adjusted to 88.88 pence per Ordinary Share from its unaudited NAV of 90.35 pence per Ordinary Share. This adjustment was predominantly an outcome of an accounting treatment at year end of 1.33 pence per Ordinary Share accrual to account for forecasted liquidation expenses. As a result of this year-end adjustment, the respective NAVs for the months of January 2024, February 2024 and March 2024 have been readjusted accordingly Portfolio Activity As at 30th April 2024, the Company's invested portfolio had an aggregate nominal outstanding of circa £100.6 million across 30 investments. The average yield was 11.61%, with a weighted average loan life remaining of circa 1.23 years10. Overall, the portfolio is 95% invested in private market assets and 5% in public bonds. Including post period end transactions, investment loan ref 98 prepaid c.£0.4m, or c.55% of its outstanding balance. This is a positive outcome for Shareholders as this is RMII's longest-dated investment loan which therefore reduces the tail-end of the portfolio. During the reporting period, the Company agreed a 3-month extension to the maturity dates of investment loans Ref 66 & 67 to enable the borrower to negotiate with the lending group about an exit strategy. Current cash balance stands at circa £10m of which circa £6m will be retained by the Company largely to fund committed facilities which have yet to be drawn. The Board is currently forecasting the 1st return of capital to occur during H2-2024.

The Company also announces that the Monthly Report for the period to 30th April 2024 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

Jenny Thompson

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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