Honeycomb Investment Trust PLC NAV and Monthly Update - July 2021 (8996K)
September 07 2021 - 2:00AM
UK Regulatory
TIDMHONY
RNS Number : 8996K
Honeycomb Investment Trust PLC
07 September 2021
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, ANY MEMBER STATE OF THE
EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM), CANADA,
AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER
JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE
UNLAWFUL
07 September 2021
Honeycomb Investment Trust plc
Honeycomb Investment Trust plc (the "Company" or "Honeycomb")
announces that the Investment Manager's monthly factsheet for 31
July 2021 is now available on its website at
http://www.honeycombplc.com .
Net Asset Value per Share
The Company announces that its unaudited Net Asset Value ("NAV")
per share as at 31 July 2021 on a cum-income basis was 1,024.3
pence, based on a NAV of GBP361.2 million, and on an ex-income
basis was 1,017.8 pence, based on a NAV of GBP358.9 million. The
NAVs have been calculated by Apex Fund Services (UK) Ltd.
Honeycomb delivered a NAV return of 0.72% for the month of July,
or 8.4% annualised.
Net Investment Assets increased in the month from GBP594.4m in
Jun-21 to GBP620.0m in Jul-21. This growth was driven by the
extension of a new revolving credit facility to an existing SME
lending partner and drawdowns against existing property-backed
facilities. The new facility is with one of Europe's largest small
business lenders and builds on the Company's relationship with the
firm, which began in 2016. The funding line will enable the firm to
grow its UK SME loan offering, highlighting the Company's
commitment to investment that drives positive impact.
Honeycomb also made a GBP30m commitment (c.GBP10m drawn in the
month) to a new PSC managed credit investment vehicle that is
focused on asset backed lending to non-bank lenders. This
investment allows Honeycomb to efficiently participate in new PSC
investments when the Company is close to fully deployed.
The Company also participated in a senior asset backed facility
to the largest pure-play electric vehicle subscription business in
Europe. The facility is directly secured on the fleet of electric
vehicles and will fund growth in the number of cars to meet
customer demand and drive increased access and adoption of electric
vehicles across Europe.
The underlying risk adjusted yield remained strong at 9.4%
annualised for the month with credit metrics remaining positive.
The pipeline continues to be robust with a number of well
progressed transactions that are expected to complete in Q3.
For further information about this announcement please
contact:
Pollen Street Capital - Investment Manager
Matthew Potter / Julian Dale: +44 (0)20 3728 6750
Liberum Capital Limited - Joint Broker
Chris Clarke / Louis Davies: +44 (0)20 3100 2000
Cenkos Securities plc - Joint Broker
Justin Zawoda-Martin: +44 (0)20 7397 8900
Link Company Matters Limited - Corporate Secretary
hitcosec@linkgroup.co.uk
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 rns@lseg.com 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
NAVSSMFMMEFSEIU
(END) Dow Jones Newswires
September 07, 2021 02:00 ET (06:00 GMT)
Honeycomb Investment (LSE:HONY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Honeycomb Investment (LSE:HONY)
Historical Stock Chart
From Jul 2023 to Jul 2024