SQN Asset Finance Income Fund Ltd Monthly NAV, Dividend and Investment Update (0031A)
December 21 2017 - 1:00AM
UK Regulatory
TIDMSQN
RNS Number : 0031A
SQN Asset Finance Income Fund Ltd
21 December 2017
21 December 2017
SQN Asset Finance Income Fund Limited
Monthly Net Asset Value, Dividend and Investment Update
Net Asset Value
SQN Asset Finance Income Fund Limited (the "Company"), the
leading diversified equipment leasing fund listed in the UK, is
pleased to provide its monthly net asset value ("NAV") update.
As at 30 November 2017, the unaudited estimated NAV per ordinary
share (cum-income) was 99.28 pence. This includes the 0.6042 pence
per ordinary share dividend announced on 21 November 2017 that went
ex-dividend on 7 December 2017 and was paid on 19 December 2017. On
a pro-forma basis, the unaudited estimated NAV per ordinary share,
adjusted for the payment of this dividend to holders of ordinary
shares, is 98.68 pence.
As at 30 November 2017, the unaudited estimated NAV per C share
(cum-income) was 97.89 pence. This includes the 0.1667 pence per C
share dividend announced on 21 November 2017 that went ex-dividend
on 7 December 2017 and was paid on 19 December 2017. On a pro-forma
basis, the unaudited estimated NAV per C share, adjusted for the
payment of this dividend to holders of C shares, is 97.72
pence.
Dividends
The Company is pleased to announce a dividend of 0.6042 pence
per ordinary share for the month ended 30 November 2017, reflecting
an annualised dividend of 7.25 pence per share. The dividend will
be payable on 23 January 2018 to holders of ordinary shares on the
register on 5 January 2018. The ex-dividend date is 4 January
2018.
The Company is also pleased to announce a dividend on the C
share of 0.1667 pence per C share for the month ended 30 November
2017. The dividend will be payable on 23 January 2018 to holders of
C shares on the register on 5 January 2018. The ex-dividend date is
4 January 2018.
Investment Updates
Ordinary Shares
Within the ordinary share portfolio, progress continues on the
Snoozebox and Suniva investments with resolutions expected in the
near future. With regard to the Suniva investment, all parties
continue to work toward the 12 January 2018 decision date though a
direct request by an agency of the White House has the potential to
extend the final decision date to 26 January 2018. The Manager
remains confident in a successful outcome for the Company's
investment and is encouraged by the increasingly strong public
support for aggressive trade policies voiced by the White House in
recent weeks.
C Shares
Within the C share portfolio, significant progress has been made
in the last month with GBP59 million of the GBP149 million reported
pipeline of deals now approved. Active discussions with prospective
customers are progressing with formal offers expected to become
commitments in the New Year.
For further information please contact:
SQN Capital Management,
LLC
Jeremiah Silkowski
Neil Roberts 01932 575 888
Winterflood Securities Limited 020 3100 0000
Neil Langford
Chris Mills
Buchanan
Charles Ryland
Vicky Hayns 020 7466 5000
Notes to Editor
The Company invests in equipment lease and asset finance
arrangements across a diverse portfolio of assets and industries
predominantly in the UK, Northern Europe and US. The Company
focuses on business-essential, revenue-producing (or cost saving)
equipment and other assets with high in-place value and long
economic life relative to the investment term.
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 Capital
Management (UK) Limited. The principals responsible for managing
the portfolio are Jeremiah Silkowski and Neil Roberts.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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