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RM Infrastructure IncomeAnnouncement

17/05/2024 07:00

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RNS Number : 8173O  RM Infrastructure Income PLC  17 May 2024

 RM Infrastructure Income Plc

 ("RMII" or the "Company")

 LEI: 213800RBRIYICC2QC958

 Net Asset Value

 NAV Performance

The NAV % Total Return for April 2024 was 0.39%, which takes the NAV % Total
 Return to 0.17% over the past six months, and 2.63% over the past 12 months.

 The NAV as at 30(th) April 2024 was 88.06 pence per Ordinary Share, which was
 0.34 pence higher than at 31(st) March 2024. This overall gain comprised
 positive interest income of 0.51 pence per Ordinary Share, net of expenses,
 and a decrease in portfolio valuations of 0.16 pence per Ordinary Share led by
 discount rate movements.

 As disclosed in the 2023 Annual Report the audited year-end NAV of December
 2023 was adjusted to 88.88 pence per Ordinary Share from its unaudited NAV of
 90.35 pence per Ordinary Share. This adjustment was predominantly an outcome
 of an accounting treatment at year end of 1.33 pence per Ordinary Share
 accrual to account for forecasted liquidation expenses. As a result of this
 year-end adjustment, the respective NAVs for the months of January 2024,
 February 2024 and March 2024 have been readjusted accordingly

Portfolio Activity

As at 30(th) April 2024, the Company's invested portfolio had an aggregate
 nominal outstanding of circa £100.6 million across 30 investments. The
 average yield was 11.61%, with a weighted average loan life remaining of circa
 1.23 years(10). Overall, the portfolio is 95% invested in private market
 assets and 5% in public bonds.

 Including post period end transactions, investment loan ref 98 prepaid
 c.£0.4m, or c.55% of its outstanding balance. This is a positive outcome for
 Shareholders as this is RMII's longest-dated investment loan which therefore
 reduces the tail-end of the portfolio.

 During the reporting period, the Company agreed a 3-month extension to the
 maturity dates of investment loans Ref 66 & 67 to enable the borrower to
 negotiate with the lending group about an exit strategy.

 Current cash balance stands at circa £10m of which circa £6m will be
 retained by the Company largely to fund committed facilities which have yet to
 be drawn.

 The Board is currently forecasting the 1(st) return of capital to occur during
 H2-2024.

 The Company also announces that the Monthly Report for the period to 30(th)
 April 2024 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: 0131 603 7060

 FundRock Management Company (Guernsey) Limited - AIFM
 Chris Hickling
 Dave Taylor
 Tel: 01481 737600

 Apex Listed Companies Services (UK) Ltd - Administrator and Company Secretary
 Jenny Thompson

 Tel: 07767102572

 Singer Capital Markers Advisory LLP - Financial Adviser and Broker
 James Maxwell
 Asha Chotai
 Tel: 020 7496 3000

 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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