RM Infrastructure Income PLC Net Asset Value(s) (7755Z)

TIDMRMII TIDMTTM

RNS Number : 7755Z

RM Infrastructure Income PLC

18 May 2023

 
                               RM Infrastructure Income Plc 
 
                                ("RMII" or the "Company") 
 
                                LEI: 213800RBRIYICC2QC958 
 
                                     Net Asset Value 
 
  NAV Performance 
   The NAV % Total Return for April 2023 was +0.09%, which takes 
   the NAV % Total Return to +2.45% over the past six months, and 
   +3.98% over the past 12 months. 
   The NAV as at 30(th) April 2023 was 92.19 pence per Ordinary 
   Share, which was 0.085 pence higher than at 31(st) March 2023. 
   This overall gain comprised positive interest income net of expenses 
   of 0.253 pence per Ordinary Share and a decrease in portfolio 
   valuations of 0.168 pence per Ordinary Share. 
   Portfolio Update 
   As at 30(th) April 2023, the Company's invested portfolio had 
   an aggregate valuation of GBP122 million across 37 investments. 
   The average yield was 9.77%, with a weighted average loan life 
   remaining of circa 2 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. 
   The net interest income for the period was lower than the target. 
   This was predominantly driven by investment loan #89, a GBP5m 
   CBILS junior facility secured against 5 operational & performing 
   purpose-built student accommodation properties in the UK. During 
   the period, the lending group moved to a recovery process. Accordingly, 
   the principal outstanding was written down to its CBILS guarantee 
   level of 80p and the associated accrued and unpaid interest was 
   also written down. On an adjusted basis (i.e. excluding the write 
   down), the net interest income for April would have been 0.55 
   pence per share, in line with target. RM believes the investment 
   loan has now been marked appropriately based on the latest conservative 
   recovery analysis. 
   Finally, as indicated in the March 2023 Factsheet, Singer Capital 
   Markets and Peel Hunt, joint financial advisers and brokers to 
   the Company, will shortly be contacting Shareholders regarding 
   the potential liquidity opportunity consultation. 
 
 The Company also announces that the Monthly Report for the period 
  to 30 April 2023 is now available to be viewed on the Company 
  website: 
 https://rm-funds.co.uk/rm-infrastructure-income/rm-funds-investor-monthly-fact-sheets-2/ 
 
 
 
                                            END 
 
 
 
 
 
 
 
 
 
 
   For further information, please contact: 
 RM Capital Markets Limited - Investment Manager 
 James Robson 
 Thomas Le Grix De La Salle 
 Tel: [phone] 
 
 FundRock Management Company (Guernsey) Limited - AIFM 
 Chris Hickling 
 Dave Taylor 
 Tel: [phone] 
 
 Tulchan Group - Financial PR 
 Elizabeth Snow 
 Oliver Norgate 
 Tel: [phone] 
 
 Sanne Fund Services (UK) Limited - Administrator and Company 
  Secretary 
 Brian Smith 
 Ciara McKillop 
 Tel: [phone] 
 
 Singer Capital Markers Advisory LLP - Financial Adviser and 
  Broker 
 James Maxwell 
 Asha Chotai 
 Tel: [phone] 
 
 Peel Hunt LLP - Financial Adviser and Broker 
 Luke Simpson 
 Liz Yong 
 Tel: [phone] 
 
 About RM Infrastructure Income 
 
 RM Infrastructure Income Plc ("RMII" or the "Company") is a closed-ended 
  investment trust established to invest in a portfolio of secured 
  debt instruments. 
 
 The Company aims to generate attractive and regular dividends 
  through loans sourced or originated by the Investment Manager 
  with a degree of inflation protection through index-linked returns 
  where appropriate. Loans in which the Company invests are predominantly 
  secured against assets such as real estate or plant and machinery 
  and/or income streams such as account receivables. 
 
 For more information, please see 
 https://rm-funds.co.uk/rm-infrastructure-income/ 
 

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May 18, 2023 02:00 ET (06:00 GMT)