Monthly NAV and Dividend

RNS Number : 9381Y

SQN Asset Finance Income Fund Ltd

23 May 2016

 

23 May 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 30 April 2016, the unaudited estimated NAV per ordinary share (cum-income) was 100.02 pence. This includes the 0.6042 pence per ordinary share dividend announced on 21 April 2016 that went ex-dividend on 5 May 2016 and is being paid today (23 May 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 99.42 pence.

As at 30 April 2016, the unaudited estimated NAV per 'C' Share was 98.51 pence.

Dividends

The Company is pleased to announce a dividend of 0.6042 pence per ordinary share for the month ended 30 April 2016, reflecting an annualised dividend of 7.25 pence per share. The dividend will be payable on 20 June 2016 to holders of ordinary shares on the register on 3 June 2016. The ex-dividend date is 2 June 2016.

The Board also has pleasure in declaring a dividend on the C shares of 0.40 pence per C share for the period from 1 February 2016 to 30 April 2016. The dividend will be payable on 20 June 2016 to holders of ordinary shares on the register on 3 June 2016. The ex-dividend date is 2 June 2016.

C Share Investment Update

The deployment of C share proceeds is on track to pay the targeted dividend within the projected 9 to 12 month period, as is consistent with the expectations set during the capital raise.  It is expected that £96.3  million will have been drawn by 31 May 2016 providing a sound base for commencement of monthly dividends at that time, with another £53.3 million committed for investment.  The majority of these transactions are Sterling denominated.

The Manager has identified more opportunities than funds available 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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