SQN Asset Finance Income Fund Ltd Monthly NAV and Dividend (1813D)
April 25 2017 - 2:00AM
UK Regulatory
TIDMSQN
RNS Number : 1813D
SQN Asset Finance Income Fund Ltd
25 April 2017
25 April 2017
SQN Asset Finance Income Fund Limited
Monthly Net Asset Value and Dividend
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 March 2017, the unaudited estimated NAV per ordinary
share (cum-income) was 99.62 pence. This includes the 0.6042 pence
per ordinary share dividend announced on 21 March 2017 that went
ex-dividend on 6 April 2017 and was paid on 20 April 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 99.02 pence. Further to the announcement on 19 April
2017, the Company has not impaired its US solar cell manufacturing
investment, however, the manager and the Board will continue to
monitor the situation closely and review the need for any
impairment as the trade case progresses.
As at 31 March 2017, the unaudited estimated NAV per C share was
98.07 pence.
Dividend
The Company is pleased to announce a dividend of 0.6042 pence
per ordinary share for the month ended 31 March 2017, reflecting an
annualised dividend of 7.25 pence per share. The dividend will be
payable on 23 May 2017 to holders of ordinary shares on the
register on 5 May 2017. The ex-dividend date is 4 May 2017.
The Board also has pleasure in declaring the maiden interim
dividend on the C shares of 0.2 pence per C share for the period
from admission to 31 March 2017. The dividend will be payable on 23
May 2017 to holders of C shares on the register on 5 May 2017. The
ex-dividend date is 4 May 2017.
C Share Investment Update
The Company is pleased by the level of investment, being ahead
of the prior C share issue and on target to meet the expected
timeline for full deployment of 9 to 12 months from admission.
The Company has made investments totalling GBP42.0 million,
including amounts expected to be drawn prior to 30 April 2017,
equivalent to approximately 24% of the net proceeds of the C share
issue. In addition, the Company has a further GBP34.7 million of
approved investments and a further pipeline of GBP77.9 million.
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
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