TIDMHWSL
RNS Number : 2063B
Hadrian's Wall Secured Invs.Ltd
31 March 2017
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, TO THE UNITED STATES, CANADA, JAPAN, SOUTH AFRICA OR
AUSTRALIA OR ANY MEMBER STATE OF THE EEA (OTHER THAN THE UNITED
KINGDOM) OR TO ANY NATIONAL, RESIDENT OR CITIZEN OF THE UNITED
STATES, CANADA, JAPAN, SOUTH AFRICA OR AUSTRALIA OR ANY MEMBER
STATE OF THE EEA (OTHER THAN THE UNITED KINGDOM) OR TO ANY OTHER
JURSIDICTION IN WHICH THE DISTRIBUTION OR RELEASE OF THIS
ANNOUNCEMENT WOULD BE UNLAWFUL UNDER APPLICABLE SECURITIES
LAWS.
31 March 2017
Hadrian's Wall Secured Investments Limited (the "Company")
Portfolio and dividend update and intention to raise additional
capital
The Company has continued to invest its IPO proceeds and is
pleased to provide an update on deployment. As of the date of this
announcement the Company has allocated a total of GBP74.8 million
(approximately 96%) of the net IPO proceeds to investments.
The allocated capital of GBP74.8 million comprises GBP52.6
million in closed loans, with an additional GBP22.2 million in
loans for which commitment letters have been executed and which the
Company expects to close before the end of April. The loans are
spread across a number of sectors including manufacturing, social
housing, energy, autos and healthcare. All loans are secured over
underlying assets and the weighted average yield on the loan
portfolio is 8.95%, with a weighted average loan term of 4
years.
This level of deployment is in line with the Company's expected
timeline, as set out in the quarterly fact sheet for the period
ended 31 December 2016, where it was indicated that full deployment
was anticipated before the end of the first quarter of 2017.
Now that the Company has effectively allocated all of its
available capital, the Company expects to achieve its target
dividend rate of 6% per annum (on the IPO issue price of 100 pence)
for the second calendar quarter of 2017. Further details of the
loan portfolio will be included in the quarterly fact sheet
expected to be released in April.
The Company continues to see a strong pipeline of new loan
opportunities. In order to be able to capitalise on these
opportunities the Company is intending to raise additional capital
in the near future and expects to release further details in
April.
Contact Details
Hadrian's Wall Capital (Investment Adviser)
Ron Miao / Mike Schozer 020 3026 8620
International Fund Management (Investment Manager)
Chris Hickling 01481 737600
Winterflood Investment Trusts (Corporate Broker)
Joe Winkley / Neil Morgan 020 3100 0000
Important Notice
Accessing this announcement in certain jurisdictions may be
restricted by law. Persons accessing this announcement must satisfy
themselves that it is lawful to do so under the applicable
securities laws of the jurisdiction from which they access this
announcement. The Company assumes no responsibility in the event
there is a violation by any person of such restrictions.
The value of investments may go down as well as up, and all of
the value of an investor's investment in the Company will be at
risk. Past performance is not a guide to future performance and the
information in this announcement or any documents relating to any
issue of the Shares by the Company cannot be relied upon as a guide
to future performance. Persons needing advice should contact a
professional adviser.
Winterflood Securities Limited ("Winterflood"), which is
authorised and regulated by the Financial Conduct Authority, is
acting only for the Company in connection with the matters
described in the is announcement and is not acting for or advising
any other person, or treating any other person as its client, in
relation thereto and will not be responsible for providing the
regulatory protection afforded to clients of Winterflood or advice
to any other person in relation to the matters contained
herein.
Neither Winterflood nor any of its directors, officers,
employees, advisers or agents accepts any responsibility or
liability whatsoever for, or makes any representation or warranty,
express or implied, as to the truth, accuracy or completeness of,
the information in this announcement (or whether any information
has been omitted from the announcement) or any information relating
to the Company, whether written, oral, or in a visual or electronic
form, and howsoever transmitted or made available or any loss
howsoever arising from any use of this announcement or its contents
or otherwise in connection with it.
This announcement may not be published, distributed or
transmitted by any means or media, directly or indirectly, in whole
or in part, in or into the United States. This announcement does
not constitute an offer to sell, or a solicitation of an offer to
buy, securities in any jurisdiction. The Company's shares have not
been registered under the United States Securities Act of 1933, as
amended (the "Securities Act"). The Company has not been, and will
not be, registered under the United States Investment Company Act
of 1940, as amended.
Neither this announcement nor any copy of it may be taken or
transmitted into or distributed in any member state of the European
Economic Area (other than the United Kingdom), Canada, Australia,
the Republic of South Africa or Japan or to any resident thereof.
Any failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction. The
distribution of this announcement in other jurisdictions may be
restricted by law and the persons into whose possession this
announcement comes should inform themselves about, and observe, any
such restrictions.
This announcement includes "forward-looking statements". All
statements other than statements of historical facts included in
this announcement, including, without limitation, those regarding
the Company's investment strategy, plans and objectives are
forward-looking statements. Forward-looking statements are subject
to risks and uncertainties and accordingly the Company's actual
future financial results and operational performance may differ
materially from the results and performance expressed in, or
implied by, the statements. These forward-looking statements speak
only as at the date of this announcement. The company expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect actual
results or any change in the assumptions, conditions or
circumstances on which any such statements are based unless
required to do so by the Financial Services Markets Act 2000, the
Listing Rules or Prospectus Rules of the Financial Conduct
Authority or other applicable laws, regulations or rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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