Monthly NAV, Dividend and Update (Replacement)

RNS Number : 5607T

SQN Asset Finance Income Fund Ltd

20 July 2015

 



20 July 2015

SQN Asset Finance Income Fund Limited

The following amendment has been made to the 'Monthly NAV, Dividend and Investment Update' announcement released on 20 July 2015 at 07:00 under RNS Number 4369T.

On a pro-forma basis, the unaudited estimated NAV, adjusted for the payment of this dividend, is 99.41 pence per share

All other details remain unchanged and the full amended text is shown below.

Monthly Net Asset Value, Dividend and Investment Update

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 June 2015, the Company's unaudited, estimated NAV was 99.93 pence per share (cum-income). This includes the 0.52 pence per share dividend announced on 19 June 2015 that went ex-dividend on 2 July 2015 and will be paid today (20 July 2015). On a pro-forma basis, the unaudited estimated NAV, adjusted for the payment of this dividend, is 99.41 pence per share.

Dividend

The Company is pleased to announce a dividend of 0.5625 pence per share for the month ended 30 June 2015. The dividend will be payable on 20 August 2015 to holders of ordinary shares on the register on 31 July 2015. The ex-dividend date is 30 July 2015.

Investment Update

The total amount funded by the Company is approximately £138m including committed transactions that are due to fund by month end.

The portfolio remains diversified over more than 10 different industries and asset classes which is expected to remain consistent as the pipeline draws down. As at 20 July the Company has 25% of net assets in US dollar denominated investments, 15% in Euro denominated investments, with the balance of 60%, including un-invested cash, in Sterling. The US dollar and Euro-denominated principal and interest components of the portfolio are currently hedged.

The weighted average yield on investments in the portfolio remains above 9.5% with the weighted average remaining term on investments lengthening to approximately 68 months.

For further information please contact:

SQN Capital Management, LLC Jeremiah Silkowski Neil Roberts	01932 575 888
Winterflood Securities Limited	020 3100 0000
Joe Winkley Neil Langford
Buchanan Charles Ryland Vicky Watson Jason Day	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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