Monthly Net Asset Value, Dividend and Fact Sheet

RNS Number : 8007L

SQN Secured Income Fund PLC

24 July 2017

 

24 July 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 30 June 2017, the unaudited estimated NAV per ordinary share (cum-income) was 98.74 pence. 

Dividend

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

Dividend amount:	0.525 pence per Ordinary Share
Ex-date:	3 August 2017
Record date:	4 August 2017
Payment date:	25 August 2017

In aggregate, the Company has declared dividends of 6.38 pence per Ordinary Share for the period from 01 July 2016 to 30 June 2017.

The Company has elected to designate all of the dividends for the period ended 30 June 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 business having completed directly sourced loans totalling £7.9 million and has approved transactions with value in excess of available cash.

The Company is managing the commitment and phasing of these approved deals to ensure maximum income is earned whilst retaining sufficient cash to meet dividend payments and overhead.

The average yield on this new business is in excess of 9.00% per annum net to the Fund.

Fact Sheet

The Company announces that it has today published its monthly fact sheet to the end of June 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/8007L_-2017-7-21.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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