Dividend Declaration and Scrip Dividend Circular

RNS Number : 6882A

Fair Oaks Income Limited

02 January 2018

 

Fair Oaks Income Limited

2 January 2018

FAIR OAKS INCOME LIMITED (the "Company")

(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)

DIVIDEND DECLARATION AND SCRIP DIVIDEND CIRCULAR

Dividends for Month Ended 31 December 2017

The Directors of Fair Oaks Income Limited have declared that interim dividends will be payable as follows in respect of the month ended 31 December 2017:

Ex-Dividend Date:                                                11 January 2018

Record Date:                                                         12 January 2018

Payment Date:                                                      9 February 2018

Dividend rate for 2014 Shareholders:            10.02 US cents per share

Dividend rate for 2017 Shareholders:            5.75 US cents per share

The Company will be offering a scrip dividend alternative, to the 2017 Shareholders only, for this dividend, under which 2017 Shareholders may elect to receive new 2017 Shares in lieu of the cash dividend. The price of a new 2017 Share to be issued under the scrip dividend alternative will be calculated as the higher of (i) the prevailing net asset value per 2017 Share; and (ii) the average of the Company's closing middle market price of a 2017 Share for the five consecutive dealing days commencing on the ex-dividend date of 11 January 2018. The reference price of the scrip 2017 Shares in respect of the interim dividend will be calculated on 17 January 2018 then published on 18 January 2018.

A circular will be sent to 2017 Shareholders on or around 12 January 2018 and will be available on the Company's website from the date of posting. Shareholders who wish to receive all or part of the interim dividend by way of 2017 Shares in the Company should complete a Scrip Dividend Mandate election as detailed in the circular by 5.00pm on 26 January 2018.

The default payment for dividends remains in US Dollars however, dividends are now capable of being paid in Sterling provided that the relevant shareholder has registered to receive their dividend in Sterling under the Company's Dividend Currency Election. A copy of the Dividend Currency Election form, which should be sent to Link Asset Services, The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU when completed can be found on the Company's website at http://www.fairoaksincome.com.

CREST shareholders must elect via CREST.

Dividends will be paid gross of tax.

LEI: 2138008KETEC1WM5YP90

Enquiries:

Fair Oaks Income Limited

Email: [e-mail]

Web: www.fairoaksincome.com

Fair Oaks Capital Limited

Investor Relations

DDI: [phone]

Email: [e-mail]

Praxis Fund Services Limited

Ben Le Prevost

DDI: [phone]

Email: [e-mail]

Numis Securities Limited

Nathan Brown, Corporate Broking

DDI: [phone]

Email: [e-mail] 

Fair Oaks Income Limited

Fair Oaks Income Limited is a registered closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange (now the Specialist Fund Segment of the Main Market of the London Stock Exchange) on 12 June 2014.

The investment policy of the Company is to invest (either directly and/or indirectly through the Master Fund and/or Master Fund II) in US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing. The Company will implement its investment policy by remaining invested in the Master Fund and making new investments in Master Fund II.

 

END

 

 

DIVUGUCCGUPRUBP