Last checked at 
17 Aug 2015 16:40
17 August 2015
FAIR OAKS INCOME FUND LIMITED
Following the announcement of a proposed issue of equity (the "Issue") on 21 July 2015, the Board of Fair Oaks Income Fund Limited (the "Company") is pleased to announce a further placing of 6,800,000 new C shares ("Additional Placing Shares") raising a further US$6.8 million (before costs and expenses).
Admission of the Additional Placing Shares is scheduled for 21 August 2015 and an application will be made to the London Stock Exchange for Additional Placing Shares to be admitted to trading on the Specialist Fund Market. A prospectus in relation to the Issue is available at http://www.fairoaksincomefund.com/.
As a result of this further placing, the Company's issued share capital will consist of 101,800,000 C shares and 211,898,362 ordinary shares.
Further Information
Fair Oaks Income Fund Limited
Email: contact@fairoaksincomefund.com
Web: www.fairoaksincomefund.com
Fair Oaks Capital Limited
Miguel Ramos Fuentenebro
Tel. +44 (0) 20 3102 4855
Email: mrf@fairoakscap.com
Numis Securities Limited
Tel. +44 (0)20 7260 1000
Nathan Brown (Corporate Broking)
Camarco
Tel. +44 (0) 203757 4989
Edward Gascoigne-Pees
Hazel Stevenson
Fair Oaks Income Fund Limited
Fair Oaks Income Fund Limited (the "Company") is an authorised closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange on 12 June 2014. The Company's ordinary shares have the TIDM: FAIR and ISIN: GG00BMBN1D14.
The investment policy of the Company is to seek exposure to US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing. The Company will implement its investment policy by investing in the Master Fund.
The investment objective of the Company is to generate attractive, risk-adjusted returns, principally through income distributions. The Company announced on 16 January 2015 that (1) on the basis of income projections as at that date, the Board planned to declare eleven monthly dividends of a minimum of 0.7 US cents per share* and a larger twelfth interim dividend such that, in the opinion of the Directors, substantially all net income generated by the Company in 2015 is distributed to shareholders; and (2) the Company will continue to target an annual net total return of 12-14%* over the planned life of the Master Fund and it is expected that dividends will constitute the principal element of the return to the Company's shareholders.
\* This is a target only and not a profit forecast. There can be no assurance that this target will be met or that the Company will make any distributions at all. This target return should not be taken as an indication of the Company's expected or actual current or future results. The Company's actual return will depend upon a number of factors. Shareholders and potential investors should decide for themselves whether or not the return is reasonable and achievable.
Important Information
This announcement has been prepared by, and is the sole responsibility of, Fair Oaks Income Fund Limited.
Numis Securities Limited ("Numis") is acting only for the Company in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Numis or advice to any other person in relation to the matters contained herein.