Ranger Direct Lending Fund PLC Net Asset Value(s) (9387E)
May 12 2017 - 1:00AM
UK Regulatory
TIDMRDL
RNS Number : 9387E
Ranger Direct Lending Fund PLC
11 May 2017
RANGER DIRECT LENDING FUND PLC ("RANGER")
MONTHLY NET ASSET VALUE PER SHARE AND DIVIDEND UPDATE
The net asset value per share ("NAV") of the Ordinary Shares in
the Company (ISIN GB00BW4NPD65) as at the close of business on 31
March 2017 was:
cum-income* basis was US $15.07 (Sterling equivalent amount
being GBP12.00)
ex-income** basis was US $14.75 (Sterling equivalent amount
being GBP11.75)
MTD Performance - NAV*** 0.74%
YTD Performance -NAV*** 2.28%
The Company currently expects to declare an interim dividend of
USD 34.33 cents (GBP 26.51 pence based on an exchange rate of
US$1.295:GBP1.00 which may differ from the exchange rate at the
time the dividend is actually declared) per Ordinary Share
following the Company's annual general meeting on 15 June 2017.
This dividend is in respect of income and interest received from
the portfolio in the first quarter of 2017.
Due to the qualified opinion on the financial statements of the
Company for the year ended 31 December 2016, in accordance with the
applicable Companies Act requirements, the dividend is proposed to
be declared following the annual general meeting ("AGM") on 15 June
2017.
The Company also notes that it intends to renew its buyback
authorities at its upcoming AGM and, until such time, it is
restricted from buying back shares due to the qualification in its
account.
This NAV has been calculated by Sanne Fiduciary Services
Limited. The corresponding March newsletter is expected to be
released on Monday 15 May.
*Cum-income NAV includes all current year income, less the value
of any dividends paid in respect of the period together with the
value of any dividends which have been declared and marked
ex-dividend but not yet paid.
**Ex-income NAV is the Cum-income NAV excluding net current year
income (net current year income being all current year income, less
the value of any dividends paid in respect of the period together
with the value of any dividends which have been declared and marked
ex-dividend but not yet paid). Any undistributed income from the
prior year is moved to retained earnings on the first business day
of the new period, meaning that an ex-income NAV released during a
financial year equates to the cum-income NAV less year to date
undistributed income.
*** For reference, the February NAV per share, after the
restatement due to the Princeton impairment, was GBP12.02 GBP
($14.93 USD), versus the originally stated NAV per share of
GBP12.44 GBP ($15.45 USD).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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