SQN Asset Finance Income Fund Ltd Monthly NAV and Dividend (4716H)
18 August 2016 - 4:00PM
UK Regulatory
TIDMSQN
RNS Number : 4716H
SQN Asset Finance Income Fund Ltd
18 August 2016
18 August 2016
SQN Asset Finance Income Fund Limited
Monthly Net Asset Value and Dividend
This announcement contains inside information
Net Asset Values
SQN Asset Finance Income Fund Limited (the "Company"), the only
diversified equipment leasing fund listed in the UK, is pleased to
provide its monthly net asset value ("NAV") update.
Ordinary Shares
As at 31 July 2016, the unaudited estimated NAV per ordinary
share (cum-income) was 99.52 pence. This includes the 0.6042 pence
per ordinary share dividend announced on 21 July 2016 that went
ex-dividend on 4 August 2016 and will be paid on 22 August 2016. On
a pro-forma basis, the unaudited estimated NAV per ordinary share,
adjusted for the payment of this dividend to holders of ordinary
shares, is 98.91 pence.
'C' Shares
As at 31 July 2016, the unaudited estimated NAV per 'C' share
(cum-income) was 98.43 pence. This includes the 0.33 pence per 'C'
share dividend announced on 21 July 2016 that went ex-dividend on 4
August 2016 and will be paid on 22 August 2016. On a pro-forma
basis, the unaudited estimated NAV per 'C' share, adjusted for the
payment of this dividend to holders of 'C' shares, is 98.10
pence.
Dividends
Ordinary Shares
The Company is pleased to announce a dividend of 0.6042 pence
per ordinary share for the month ended 31 July 2016. The dividend
will be payable on 19 September 2016 to holders of ordinary shares
on the register on 2 September 2016. The ex-dividend date is 1
September 2016.
'C' Shares
The Board is also pleased to announce a dividend on the 'C'
shares of 0.4167 pence (5.0% annualised) per 'C' share for the
month ended 31 July 2016. This dividend will be payable on 19
September 2016 to holders of 'C' shares on the register on 2
September 2016. The ex-dividend date is 1 September 2016.
'C' Share Investment Update
It is expected that GBP127.7 million will have been invested by
31 August 2016 representing 71.5% of the net proceeds of the 'C'
share issue.
The Manager anticipates that the majority of the 'C' share net
proceeds will be drawn by 30 September 2016 and expects the 'C'
shares to convert shortly thereafter. The Manager continues to see
a strong pipeline of opportunities and the Company is therefore
considering raising additional capital later this year, subject to
investor demand.
For further information please contact:
SQN Capital Management,
LLC
Jeremiah Silkowski
Neil Roberts 01932 575 888
Winterflood Securities Limited 020 3100 0000
Neil Langford
Chris Mills
Buchanan
Charles Ryland
Victoria Hayns 020 7466 5000
Notes to Editor
The Company invests in equipment lease and asset finance
arrangements across a diverse portfolio of assets and industries
predominantly in the UK, Northern Europe and US. The Company
focuses on business-essential, revenue-producing (or cost saving)
equipment and other assets with high in-place value and long
economic life relative to the investment term.
The Company's Investment Managers are SQN Capital Management,
LLC, a Registered Investment Advisor with the United States
Securities and Exchange Commission and its subsidiary, SQN Capital
Management (UK) Limited. The principals responsible for managing
the portfolio are Jeremiah Silkowski and Neil Roberts.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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