Rm Infrastructure Income Share Discussion Threads

[jong] 01/6/2023 19:20

XD today, hence the drop

[a0002577] 23/5/2023 12:34

I don't think this company is broke and so it does not need fixing.

Don't like this solution unless our board is driving it.

[cwa1] 23/5/2023 11:01

Shareholder Update...



In early April 2023, while preparing for the proposed liquidity opportunity consultation, the RMII Board (the "Board") received a non-binding indicative proposal which involved a combination of all the Company's assets with another investment company under Section 110 of the Insolvency Act 1986 (the "Proposal"). Unusually for a Section 110 approach, the Proposal did not include any option, partial or otherwise, for RMII Shareholders to elect to receive cash (such as through a run-off liquidation pool as the Company's investments are realised over time). For the avoidance of doubt, the Proposal did not anticipate any offer for the Company, recommended or otherwise, under the City Code on Takeovers and Mergers.

Since the initial approach in early April, the Board has attempted to address various issues with the Proposal which would have negatively impacted RMII Shareholders but progress to date has been limited. If the counterparty is willing to substantially improve its offer, then the Board intends to explore this opportunity further. At this time, no heads of terms have been agreed by the Board and the counterparty's board of directors and consequently there can be no certainty that any potential transaction would be successfully completed.

Dividend announcement too:-

The Directors of the Company, an investment trust specialising in secured debt investments, have declared an interim dividend of 1.625 pence per ordinary share in respect of the period from 1 January 2023 to 31 March 2023:

Ex-Dividend Date - 1 June 2023

Record Date - 2 June 2023

Payment Date - 30 June 2023

The Company has elected to designate the interim dividend for the period as an interest distribution to its ordinary shareholders.

[marko60] 03/5/2023 07:00

Final results out last week and now targeting a dividend of +7p, almost 9% at current share price.Only downside would be an increase in credit losses if a major recession happens.

[the deacon] 16/3/2023 07:37

A solid performer. Not many can point to consistently growing NAV in this market

[cwa1] 16/3/2023 07:29

NAV Performance
The NAV % Total Return for February 2023 was +0.41%, which takes
the NAV % Total Return to +2.22% over the past six months, and
+5.56% over the past 12 months.
The NAV as at 28(th) February 2023 was 93.49 pence per Ordinary
Share, which was 0.39 pence higher than at 31(st) January 2023.
This overall gain comprised positive interest income net of expenses
of 0.62 pence per Ordinary Share and a decrease in portfolio
valuations of 0.23 pence per Ordinary Share.
Portfolio Update
As at 28(th) February 2023, the Company's invested portfolio
had an aggregate valuation of GBP126 million across 38 investments.
The average yield was 9.61%, with a weighted average loan life
remaining of 1.72 years. Overall, the portfolio is 96% invested
in private market assets and 4% in public bonds. The Investment
Manager's focus on creating a portfolio of high yielding and
short duration loans that do not hold significant exposure to
interest rate movements, ensures the portfolio remains well positioned
against any further interest rate increases by global central
banks.
As indicated in January 2023, the redeployment of capital at
higher yields is now starting to have a positive impact on the
Company's net interest income. It is pleasing to see that the
current run rate income for the reporting period has exceeded
the net interest income requirement for the annual dividend target,
in line with our guidance, and is on track to generate a net
interest income of more than 7 pence per share for FY 2023.
The Company is not aware of any direct nor indirect exposure
to SVB and Signature Bank.

[panshanger1] 05/3/2023 11:22

Wrong paste Citywire refers to this trust in associated article

[panshanger1] 05/3/2023 11:20

https://citywire.com/investment-trust-insider/news/psst-want-a-bargain-way-into-top-performing-jpmorgan-global/a2410638

[cwa1] 01/3/2023 07:16

Dividend Declaration

The Directors of the Company, an investment trust specialising in secured debt investments, have declared an interim dividend of 1.625 pence per ordinary share in respect of the period from 1 October 2022 to 31 December 2022:

Ex-Dividend Date - 9 March 2023

Record Date - 10 March 2023

Payment Date - 31 March 2023

The Company has elected to designate the interim dividend for the period as an interest distribution to its ordinary shareholders.

[cwa1] 01/11/2022 16:46

Dividend Declaration



The Directors of the Company, an investment trust specialising in secured debt investments, have declared an interim dividend of 1.625 pence per ordinary share in respect of the period from 1 July to 30 September 2022:

Ex-Dividend Date - 1 December 2022

Record Date - 2 December 2022

Payment Date - 30 December 2022

The Company has elected to designate the interim dividend for the period as an interest distribution to its ordinary shareholders.

[a0002577] 09/8/2022 14:39

Seems to be off everyone's radar - I am a happy holder but not expecting fireworks.

[cwa1] 08/8/2022 16:40

Half yearly report out...and nobody cares :-))

Outlook

For the first time since pre-quantitative easing, we are now seeing dispersion within the broader corporate bond market where risk is currently being more accurately reflected by individual credit spreads. This offers opportunities in more broadly syndicated private loans which we have not seen since the RMII IPO in 2016, furthermore the bespoke loans originated by RM Funds price above the syndicated credit curve and allows for wider pricing and better terms to be negotiated by the Investment Manager.

Our key theme is that now is a good time to be a credit investor and probably the best environment to be deploying and investing capital. Risk is being appropriately priced and, in our view, offers compelling investor returns with the ability to structure enhanced security and improved covenants on transactions at this point of the economic cycle as credit conditions tighten. Since IPO, private credit as measured by RMII and other investment trusts specialising in direct lending have demonstrated resilience in preserving capital versus public bond and loan markets alternatives (as measured by high yield and leveraged loan indices or exchange traded funds). This is important for investors looking to generate total returns principally from fixed income and in particular corporate lending.

The Board are grateful for the support of Shareholders and are delighted to have such a broad investor base. We would also like to thank RM Funds and the other professional advisors for their hard work and support. Please do not hesitate to contact me through Peel Hunt or Singer Capital Markets if any additional information is required.

[cwa1] 03/8/2022 07:25

Dividend Declaration

The Directors of the Company, an investment trust specialising in secured debt investments, have declared an interim dividend of 1.625 pence per ordinary share in respect of the period from 1 April 2022 to 30 June 2022:

Ex-Dividend Date - 1 September 2022

Record Date - 2 September 2022

Payment Date - 30 September 2022

The Company has elected to designate the interim dividend for the period as an interest distribution to its ordinary shareholders.

[rogerramjett] 08/6/2022 15:49

This is a slow burner. Under the radar ? Or just no interest ?

Very few daily trades but will continue to hold for the foreseeable. Adding on any opportunities below 90p

[cwa1] 25/5/2022 08:40

And another one rolls in:-

Dividend Declaration

The Directors of the Company, an investment trust specialising in secured debt investments, have declared an interim dividend of 1.625 pence per ordinary share in respect of the period from 1 January to 31 March 2022:

Ex-Dividend Date - 1 June 2022

Record Date - 6 June 2022

Payment Date - 24 June 2022

The Company has elected to designate the interim dividend for the period as an interest distribution to its ordinary shareholders.

[rogerramjett] 02/3/2022 17:55

Yep. Divind declared. Keep taking the money. Not exciting but I don't care.

[cwa1] 22/2/2022 07:38

22 February 2022

RM Infrastructure Income Plc

("RMII" or the "Company")

LEI: 213800RBRIYICC2QC958

Dividend Declaration

The Directors of the Company, an investment trust specialising in secured debt investments, have declared an interim dividend of 1.625 pence per ordinary share in respect of the period from 1 October 2021 to 31 December 2021:

Ex-Dividend Date - 3 March 2022

Record Date - 4 March 2022

Payment Date - 25 March 2022

The Company has elected to designate the interim dividend for the period as an interest distribution to its ordinary shareholders.

[rogerramjett] 13/1/2022 14:08

Added some of these to increase diversity in wife's PF. Very boring as with some other IT'S but potentially good returns over a long period.

[cwa1] 22/12/2021 07:22

An, ahem, modest purchase of their own shares :-)

22 December 2021

RM Infrastructure Income PLC

("RMII" or "the Company")

LEI: 213800RBRIYICC2QC958

Transaction in Own Shares

RMII announces that on 21 December 2021 it purchased 3,794 ordinary shares at a price of 93.0p per share in accordance with the authority granted to it by Shareholders at its 2021 Annual General Meeting. The purchased shares will be held in treasury. Following this purchase, the Company will have 117,940,988 ordinary shares in issue with voting rights and 4,283,593 ordinary shares held in treasury.

[cwa1] 02/11/2021 17:02

November 2021

RM Infrastructure Income Plc

("RMII" or the "Company")

LEI: 213800RBRIYICC2QC958

Dividend Declaration

The Directors of the Company, an investment trust specialising in secured debt investments, have declared an interim dividend of 1.625 pence per ordinary share in respect of the period from 1 July 2021 to 30 September 2021:

Ex-Dividend Date - 2 December 2021

Record Date - 3 December 2021

Payment Date - 30 December 2021

The Company has elected to designate the interim dividend for the period as an interest distribution to its ordinary shareholders.

END

[whilstev] 19/10/2021 11:03

I am looking for a gradual rise back to the 100p level as risk subsides.

[cwa1] 19/10/2021 10:05

Interesting to note that you can buy at 90p and sell at...90p, at the moment :-)

At 90p to buy it represents a reasonable discount to the NAV at 30/9 of 96.68p and yields about 7% on the current 6.5p dividend

Enough to be happy with there IF that can be maintained

[cwa1] 24/9/2021 16:55

Big trade this morning at 90p

[cwa1] 16/9/2021 17:32

Decent volume put through today and some good sized trades too