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RNS Number : 3157A

Secured Income Fund PLC

01 June 2021

1 June 2021

Secured Income Fund plc

Review of Film Production Financing

Secured Income Fund plc (LSE: SSIF) (the "Company"), a specialist secured lending income investment trust, listed in the UK, announces that it is undertaking a review of its Film Production Financing portfolio, which had a book value for all six loans of GBP9,586,462 as of April 30, 2021.

The portfolio comprises six film financings and the Fund Manager, KKV, has established that the restrictions and changed operating practices resulting from the COVID pandemic are likely to have a significantly bigger detrimental impact on these assets than originally anticipated.

The review of the portfolio, is therefore expected to result in a substantial increase in provisioning against the book values of all six loans. KKV is working proactively with the borrower to ensure the best possible outcome for shareholders. A further announcement will be made once the review is concluded.

For further information please contact:

 
 
 Directors 
  David Stevenson (Chair)          tel: +44 7973 873 785 
  Susan Gaynor Coley               tel: +44 7977 130 673 
  Brett Miller                     tel: +44 7770 447 338 
 KKV Investment Management Ltd   Investor.communications@kkvim.com 
  Catherine Halford Riera 
 finnCap Ltd.                    tel: +44 20 7220 0500 
  Corporate Finance: William 
  Marle 
  Sales: Mark Whitfeld

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June 01, 2021 02:00 ET (06:00 GMT)

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