Monthly NAV and Dividend

RNS Number : 6599S

SQN Asset Finance Income Fund Ltd

21 March 2016

 

21 March 2016

SQN Asset Finance Income Fund Limited

Monthly Net Asset Value and Dividend

Net Asset Value

SQN Asset Finance Income Fund Limited (the "Company"), the only diversified equipment leasing fund listed in the UK, is pleased to provide its monthly net asset value ("NAV") update.

As at 29 February 2016, the unaudited estimated NAV per ordinary share (cum-income) was 99.52 pence. This includes the 0.6042 pence per ordinary share dividend announced on 22 February 2016 that went ex-dividend on 3 March 2016 and is being paid today, 21 March 2016. On a pro-forma basis, the unaudited estimated NAV per ordinary share, adjusted for the payment of this dividend to holders of ordinary shares, is 98.92 pence.

As at 29 February 2016, the unaudited estimated NAV per C share was 98.57 pence.

Dividend

The Company is pleased to announce a dividend of 0.6042 pence per ordinary share for the month ended 29 February 2016, reflecting an annualised dividend of 7.25 pence per share. The dividend will be payable on 25 April 2016 to holders of ordinary shares on the register on 8 April 2016. The ex-dividend date is 7 April 2016.

In accordance with the terms of the C Share prospectus, the next dividend payable on the C Shares will be for the period from 1 January 2016 to 30 April 2016, expected to be announced late May 2016.

C Share Investment Update

The deployment of C Share proceeds is on pace to pay the targeted dividend within the projected 9 to 12 month period, as is consistent with the expectations set during the capital raise.  By 31 March, it is expected that £45.7 million will be drawn with another £58.9 million committed for investment.  The majority of these transactions are Sterling denominated.

The Manager has identified more than £200 million of opportunities and is working diligently to structure and close an optimal balance of diversified investments that are intended to generate attractive risk-adjusted returns for investors while providing regular income on a non-correlated basis.

For further information please contact:

SQN Capital Management, LLC Jeremiah Silkowski Neil Roberts	01932 575 888
Winterflood Securities Limited	020 3100 0000
Neil Langford Chris Mills
Buchanan Charles Ryland Vicky Watkins	020 7466 5000

Notes to Editor

The Company invests in equipment lease and asset finance arrangements across a diverse portfolio of assets and industries predominantly in the UK and US. The Company focuses on business-essential, revenue-producing (or cost saving) equipment and other assets with high in-place value and long economic life relative to the investment term.

The Company's Investment Manager is SQN Capital Management, LLC, a Registered Investment Advisor with the United States Securities and Exchange Commission. The principals responsible for managing the portfolio are Jeremiah Silkowski and Neil Roberts.

 

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