RM Secured Direct Lending PLC - closed-ended investment trust - Plans to change name to RM Social & Environmental Infrastructure Income PLC to match revised investment strategy.
Company is making required filings at Registrar of Company to effect the name change, but expects a delay in Companies House.
All new lending is to be allocated to Social & Environmental Infrastructure assets across six target sectors: Accommodation, Healthcare, Childcare & Education, Clean Energy & Renewables, Waste Management and Energy Efficiency & Carbon Reduction.
Looking ahead, investment manager believes that over 50% of portfolio will be invested in the target sectors by the end of 2021.
"The board would like to thank all shareholders for their time in providing feedback to this process. The problems the economy has been facing due to Covid 19 are fading fast. The portfolio is performing well and although we continue to closely monitor those assets which have been most impacted by the pandemic, we expect these to continue to improve in line with peers. We are excited about the depth of opportunity to grow the portfolio with our refreshed strategy and believe that the target returns and positive social impact from our investments will also broaden our appeal to new and different investors," says Chair Norman Crighton.
Current stock price: 92.37 pence
Year-to-date change: up 6.2%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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