Fair Oaks Income Limited Annual Financial Report (8316V)

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RNS Number : 8316V

Fair Oaks Income Limited

11 April 2019

Fair Oaks Income Limited

11 April 2019

FAIR OAKS INCOME LIMITED (the "Company")

(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)

ANNUAL FINANCIAL REPORT

The Board of Fair Oaks Income Limited is pleased to release the Annual Report for the period ended 31 December 2018.

Highlights

-- Fair Oaks Income Limited's (the "Company") Net Asset Value ("NAV") per 2017 Shares was up 0.5% and the NAV per 2014 Shares was up 5.2% for the year ended 31 December 2018 on a total return basis (with dividends reinvested). This compares to the Credit Suisse US Leveraged Loan Index, which was up 1.1% and the Credit Suisse US High Yield Index, which was down 2.4%.

   --       As at 31 December 2018, the Company's total market capitalisation was US$377.5 million. 

-- The Company's 2014 and 2017 share prices closed at a mid-price of US$0.8300 and US$0.7925 respectively on 31 December 2018 and traded at an average annual premium to NAV of 0.82% and 7.74% respectively.

-- The Company declared dividends of 13.45 US cents per 2017 Share in 2018, equivalent to a 17.0% dividend yield on the closing mid-share price on 31 December 2018. Cumulative dividends since the inception of the Company per 2017 Share are 52.0 US cents.

-- The Company returned US$0.5763 per 2014 share to shareholders through compulsory partial redemptions of 2014 shares, amounting to a return to shareholders of US$22.0 million.

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LEI: 2138008KETEC1WM5YP90

Enquiries:

Fair Oaks Income Limited

Email: [e-mail]

Web: www.fairoaksincome.com

Fair Oaks Capital Limited

Investor Relations

DDI: [phone]

Email: [e-mail]

Praxis Fund Services Limited

Ben Le Prevost

DDI: [phone]

Email: [e-mail]

Numis Securities Limited

Nathan Brown, Corporate Broking

DDI: [phone]

Email: [e-mail]

Fair Oaks Income Limited

Fair Oaks Income Limited is a registered closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange (now the Specialist Fund Segment of the Main Market of the London Stock Exchange) on 12 June 2014.

The investment policy of the Company is to invest (either directly and/or indirectly through FOMC II LP) in US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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April 11, 2019 02:01 ET (06:01 GMT)