SQN Asset Finance Income Fund Ltd Monthly NAV, Dividend and Investment Update (0175X)
21 November 2017 - 6:00PM
UK Regulatory
TIDMSQN
RNS Number : 0175X
SQN Asset Finance Income Fund Ltd
21 November 2017
21 November 2017
SQN Asset Finance Income Fund Limited
Monthly Net Asset Value, Dividend and Investment Update
Net Asset Value
SQN Asset Finance Income Fund Limited (the "Company"), the
leading diversified equipment leasing fund listed in the UK, is
pleased to provide its monthly net asset value ("NAV") update.
As at 31 October 2017, the unaudited estimated NAV per ordinary
share (cum-income) was 99.44 pence. This includes the 0.6042 pence
per ordinary share dividend announced on 20 October 2017 that went
ex-dividend on 2 November 2017 and was paid on 17 November 2017. 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 98.83 pence.
As at 31 October 2017, the unaudited estimated NAV per C share
(cum-income) was 97.95 pence. This includes the 0.15 pence per C
share dividend announced on 20 October 2017 that went ex-dividend
on 2 November 2017 and was paid on 17 November 2017. 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 97.80
pence.
Dividends
The Company is pleased to announce a dividend of 0.6042 pence
per ordinary share for the month ended 31 October 2017, reflecting
an annualised dividend of 7.25 pence per share. The dividend will
be payable on 19 December 2017 to holders of ordinary shares on the
register on 8 December 2017. The ex-dividend date is 7 December
2017.
The Company is also pleased to announce a dividend on the C
Share of 0.1667 pence per C share for the month ended 31 October
2017. The dividend will be payable on 19 December 2017 to holders
of C shares on the register on 8 December 2017. The ex-dividend
date is 7 December 2017.
Investment Update
Ordinary Shares
With regard to the Company's investment in solar manufacturing
equipment, following the United States International Trade
Commission's unanimous ruling in support of the Suniva petition, a
recommendation has been made by the ITC to the White House to
implement a remedy that would restore value to U.S. solar
manufacturers and provide protection to ensure long-term viability
of the industry. The recommendation is now with the United States
Trade Representative's office which will undertake a review for the
White House's final decision which is due by 12 January 2018.
With regard to the Company's investment in the core assets of
Snoozebox, following the RNS announcements on 8 November the
Company is pleased to confirm that it is working in cooperation
with the Administrators to pursue the restructuring and
repositioning plans that were in place prior to the Administration.
Further announcements will follow.
The Company is also pleased to announce that it has now
successfully re-financed two anaerobic digestion plants generating
premiums over the already-attractive initially projected yields.
Since the Company's year-end, a total of six transactions have come
to conclusion, all at premiums to the initially projected yields
which maintains the weighted average yield on all completed
transactions at over 12%.
C Shares
The flow of new proposals has continued to improve since the
upturn in September with the pipeline doubling. However, decision
making by the potential lessees remains more protracted than in
prior years. The Company has allocated GBP64 million of capital
between drawn and committed investments. An additional GBP11
million of transactions have been approved, together with a
pipeline of GBP143 million which is in excess of the capital
remaining to be deployed.
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
Vicky 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
MSCFEEFMSFWSEFF
(END) Dow Jones Newswires
November 21, 2017 02:00 ET (07:00 GMT)
Slf Realisation (LSE:SLFR)
Historical Stock Chart
From Apr 2024 to May 2024
Slf Realisation (LSE:SLFR)
Historical Stock Chart
From May 2023 to May 2024