Secured Income Fund PLC Portfolio Manager Update (2216D)

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: [phone] 
  Susan Gaynor Coley                     tel: [phone] 
  Brett Miller                           tel: [phone] 
 KKV Investment Management Ltd         [e-mail] 
  Catherine Halford Riera 
 finnCap Ltd.                          tel: [phone] 
  Corporate Finance: William Marle 
  Sales: Mark Whitfeld 
 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCUVVVRASUNUAR

(END) Dow Jones Newswires

June 25, 2021 11:55 ET (15:55 GMT)