Fair Oaks Inc21 Regulatory News (FAIR)

27 April 2020

Fair Oaks Income Limited ("the Company")

Issue of Shares

The Board is pleased to announce an issue to satisfy market demand of 2,935,000 new 2017 Shares (the "New Shares") at an issue price of US$0.372 per New Share, representing a premium of approximately 2% to the latest published NAV.

The net proceeds of the issue will be invested in accordance with the Company's investment policy, with FOMC II (the "Master Fund") expected to invest in CLO debt securities in the secondary market, which the Investment Adviser believes offer attractive risk-adjusted returns over the medium term. 

The Company has Shareholder authority to issue further new shares but does not intend to utilise this authority prior to the publication of the NAV as at 30 April 2020.

Application will be made to the London Stock Exchange for the New Shares to be admitted to trading on the Specialist Fund Segment of the Main Market. Admission of the New Shares is expected on 30 April 2020. Following the issue, the Company will have 467,728,360 2017 Shares in issue.

Enquiries:

Praxis Fund Services Limited

Ben Le Prevost

DDI: +44 (0) 1481 755524

Email: Ben.LePrevost@praxisifm.com

Fair Oaks Capital Limited

Investor Relations

DDI: +44 20 3034 0400

Email: IR@fairoakscap.com

Numis Securities Limited

Nathan Brown, Investment Banking

DDI: +44 (0) 20 7260 1426

Email: n.brown@numis.com