Secured Income Fund PLC Portfolio Manager Update (2216D)
June 25 2021 - 10:55AM
UK Regulatory
TIDMSSIF
RNS Number : 2216D
Secured Income Fund PLC
25 June 2021
25 June 2021
Secured Income Fund plc
("SSIF" or the "Company")
LEI: 213800TR2S2TT6PKVH57
Portfolio Manager Update
The Board of SSIF is aware that KKV Investment Management
Limited ("KKVIM"), the Company's portfolio manager, is in a dispute
with SQN Capital Management, LLC ("SQN"), in relation to amounts
payable by KKVIM to SQN pursuant to an agreement reached at the
time KKVIM was appointed as the Company's portfolio manager in June
2020 (the "Dispute"). SQN has appointed a Fixed Charge Receiver to
seek to collect amounts it claims are owned to it by KKVIM.
While the Dispute does not concern the Company directly, the
Fixed Charge Receiver has contacted the Company requesting that
payments that would otherwise be made by the Company to KKVIM
pursuant to the investment management agreement, be instead paid to
SQN. KKVIM is challenging the appointment of the Fixed Charge
Receiver.
The Dispute does not impact the ongoing management of the
portfolio or the realisation of the Company's assets, however, the
Company will continue to monitor the situation and any impact it
may have on KKVIM and the Company.
For further information please contact:
Directors
David Stevenson (Chair) tel: +44 7973 873785
Susan Gaynor Coley tel: +44 7977 130673
Brett Miller tel: +44 7770 447338
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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