Monthly Net Asset Value, Dividend and Fact Sheet

RNS Number : 9448I

SQN Secured Income Fund PLC

23 June 2017

 

23 June 2017                                                                         

SQN Secured Income Fund plc

Monthly Net Asset Value, Dividend and Fact Sheet

SQN Secured Income Fund plc (LSE: SSIF) (the "Company"), a specialist secured lending income investment trust, listed in the UK, is pleased to provide its monthly net asset value ("NAV") and dividend update in addition to its monthly fact sheet.

Net Asset Value

The Company announces that, as at 31 May 2017, the unaudited estimated NAV per ordinary share (cum-income) was 99.13 pence. 

Dividend

The Company is pleased to announce the tenth monthly dividend for the year ended 30 June 2017:

Dividend amount:	0.525 pence per Ordinary Share
Ex-date:	6 July 2017
Record date:	7 July 2017
Payment date:	28 July 2017

In aggregate, the Company has declared dividends of 5.85 pence per Ordinary Share for the period from 01 July 2016 to 31 May 2017.

The Company has elected to designate all of the dividends for the period ended 31 May 2017 as interest distributions to its shareholders.  In doing so, the Company is taking advantage of UK tax treatment by "streaming" income from interest-bearing investments into dividends that will be taxed in the hands of shareholders as interest income.

Investment Update

The Company is pleased with the level of new loan applications and has now completed the first two directly sourced loans totalling £5.9 million.  The level of applications in the final stages of approval provides the Company with comfort that the currently high level of cash will be substantially invested within Q2 2017, thereby restoring the Company's gross yield.

Fact Sheet

The Company announces that it has today published its monthly fact sheet to the end of April 2017. Please follow the link below to access the fact sheet, which is also available to download from the Company's website

http://www.rns-pdf.londonstockexchange.com/rns/9448I_-2017-6-22.pdf

(www.thesmeloanfund.com).

For further information please contact:

SQN Asset Management Limited Neil Roberts Jeremiah Silkowski	tel: [phone]
Cantor Fitzgerald Europe Sue Inglis	tel: [phone]
Buchanan Communications Charles Ryland/Vicky Hayns/Henry Wilson	tel: [phone]
www.thesmeloanfund.com

Notes to Editor

The Company aims to provide shareholders with attractive risk-adjusted returns, principally in the form of regular, sustainable dividends, through investment predominantly in a range of secured loans and other secured loan-based instruments originated through a variety of channels and diversified by way of asset class, geography and duration.

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

 

END

 

 

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