Hadrian's Wall Secured Invs.Ltd Update and intention to raise additional capital (2063B)

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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

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March 31, 2017 09:00 ET (13:00 GMT)