Fair Oaks Income Limited Company Update on Dividends (4113T)
July 20 2020 - 1:00AM
UK Regulatory
TIDMFAIR TIDMTTM TIDMTTM
RNS Number : 4113T
Fair Oaks Income Limited
20 July 2020
Fair Oaks Income Limited
20 July 2020
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)
COMPANY UPDATE ON DIVIDENDS
In light of the continued performance and the increased
resilience of Master Fund II's investments, the Board has decided
to resume the payment of dividends, on a quarterly basis and at a
variable rate. The Company expects to announce the first quarterly
dividend at the end of July in an amount of approximately 1.5 cents
per share.
The Master Funds received distributions on all equity
investments in April and, with all investments passing their
over-collateralisation tests, distributions are also expected on
all investments in July. Furthermore, the opportunistic investments
made in the second quarter have resulted in the portfolio
consisting of 48% CLO debt by market value. This increases the
resilience and predictability of Master Fund II and the Company's
cash flow.
LEI: 2138008KETEC1WM5YP90
Enquiries:
Fair Oaks Income Limited
Email: contact@fairoaksincome.com
Web: www.fairoaksincome.com
Fair Oaks Capital Limited
Investor Relations
DDI: +44 (0) 20 3034 0400
Email: ir@fairoakscap.com
Praxis Fund Services Limited
Ben Le Prevost
DDI: +44 (0) 1481 755524
Email: Ben.LePrevost@praxisifm.com
Numis Securities Limited
Nathan Brown, Corporate Broking
DDI: +44 (0) 20 7260 1426
Email: n.brown@numis.com
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 FOMC II LP) 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 above distribution guidance is provided by the Company in
consultation with its Investment Adviser as a target only and is
not a profit forecast. There can be no assurance that this target
will be met or that the Company will make any distributions
whatsoever. The times and dates in this announcement are expected
times and dates only and are subject to change.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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