Net Asset Value(s)

RM Infrastructure Income PLC

20 December 2024

 

RM Infrastructure Income Plc

("RMII" or the "Company")

LEI: 213800RBRIYICC2QC958

Net Asset Value

NAV Performance The NAV % Total Return for November 2024 was 0.52%, which takes the NAV % Total Return to 0.66% over the past six months, and 4.18% over the past 12 months. The NAV as at 30th November 2024 was 85.87 pence per Ordinary Share, which was 1.17 pence lower than at 31st October 2024. This reduction in NAV was predominantly driven by the Company's Q3 dividend of 1.625 pence per share, announced in October 2024 and paid in November 2024. This was balanced by (1) a positive net interest income of 0.243 pence per share, slightly lower than forecasted due to a number of pre-year-end accounting adjustments regarding the Company's run-rate expenses; (2) a small valuation uplift of 0.481 pence per share primarily driven by discount rate movements; and (3) incentive fee buybacks13 which resulted in a NAV reduction of 0.27 pence per share.   Summary for November 2024 (pence per share) Net interest income +0.243p Change in portfolio valuations +0.481p Incentive fee buybacks13 -0.270p Dividend -1.625p Net NAV Movement -1.170p Portfolio Activity As at 30th November 2024, the Company's invested portfolio had an aggregate nominal outstanding of circa £79 million across 18 investments. The average yield was 12.08%, with a weighted average loan life remaining of circa 0.81 years10. Overall, the portfolio is 94% invested in private market assets and 6% in public bonds. During the reporting period, RM successfully recovered c.£6m for investment loans Ref #80 and Ref #92, in line with previous assumptions shared with Shareholders and slightly ahead of the book value. Cash balances at end of November 2024 stood at circa £8.5m of which circa £1.5m will be retained by the Company largely to fund remaining committed facilities which have yet to be drawn as well as to hold sufficient funds for corporate purposes.

The Company also announces that the Monthly Report for the period to 30th November 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/

END

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. On 20 December 2023, shareholders approved the implementation of the Managed Wind-down of the Company. Accordingly, the Company's investment objective was restated as follows: "The Company aims to conduct an orderly realisation of the assets of the Company, to be effected in a manner that seeks to achieve a balance between returning cash to Shareholders promptly and maximising value."

For more information, please see

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

 

END