Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSQN.L Regulatory News (SQN)

  • There is currently no data for SQN

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Monthly NAV and Dividend

23 Jul 2018 10:25

RNS Number : 4393V
SQN Asset Finance Income Fund Ltd
23 July 2018
 

23 July 2018

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 30 June 2018, the unaudited estimated NAV per ordinary share was 97.72 pence, which includes an adjustment to the valuation of the Suniva investment. The Company has continued discussions with multiple counterparties seeking to lease or purchase the Suniva equipment. The recent developments in the United States have provided additional support for domestic manufacturers which should strengthen Suniva's market position. Furthermore, efforts have intensified in pursuing the guarantee with subpoenas being issued to officers of the guarantor. The Board as advised by the Manager continues to believe that a full recovery of the Suniva investment will be achieved. This is expected to be through the lease or sale of the Suniva equipment and, to the extent required, by pursuing the guarantee. The Company has examined the minimum expected recovery under the lease or sale of the Suniva equipment and, considering the potential time required to realise the guarantee, the Company has reflected an impairment of £2.4m to the Suniva investment to account for the risk adjusted time value of money on such proportion of the investment should a full recovery not be achieved through a sale or re-lease. Without this specific impact, the NAV per ordinary Share would have been 98.41 pence.

 

As at 30 June 2018, the unaudited estimated NAV per C share was 97.62 pence.

 

Dividends

The Company is pleased to announce a dividend of 0.6042 pence per ordinary share for the month ended 30 June 2018, reflecting an annualised dividend of 7.25 pence per share. The dividend will be payable on 16 August 2018 to holders of ordinary shares on the register on 3 August 2018. The ex-dividend date is 2 August 2018.

 

The Company is also pleased to announce a dividend on the C Share of 0.3333 pence per C share for the month ended 30 June 2018. The dividend will be payable on 16 August 2018 to holders of C shares on the register on 3 August 2018. The ex-dividend date is 2 August 2018.

 

The Company expects to increase the dividend, to an annualised rate of 7.25%, on the C Shares in August 2018

 

Investment Update

A separate RNS announcement is being issued simultaneously.

 

The Company's factsheet for June 2018 will shortly be available on the Company's website: www.sqncapital.com/managed-funds/sqn-asset-finance-income-fund.

 

 

 

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

Henry Wilson

 

 

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 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.
 
END
 
 
MSCKXLBLVDFLBBB
Date   Source Headline
17th Jul 20202:58 pmRNSChange of Name
16th Jul 202012:38 pmRNSResult of EGM and Class Meetings
8th Jul 20207:00 amRNSInvestment Update
24th Jun 20207:00 amRNSNet Asset Value(s)
17th Jun 20203:02 pmRNSHolding(s) in Company
16th Jun 20207:00 amRNSContinuation Vote and Publication of Circular
8th Jun 20207:00 amRNSAppointment of Investment Manager
22nd May 20207:00 amRNSNet Asset Value(s)
5th May 202012:03 pmRNSDisclosure of rights attached to listed securities
30th Apr 20207:00 amRNSConclusion of Strategic Review & Change of Manager
24th Apr 20202:23 pmRNSMonthly Net Asset Value and Covid-19 update
14th Apr 202011:35 amRNSHolding(s) in Company
6th Apr 20204:42 pmRNSSecond Price Monitoring Extn
6th Apr 20204:36 pmRNSPrice Monitoring Extension
3rd Apr 20203:21 pmRNSHalf-Yearly Report
1st Apr 20208:51 amRNSHalf-year Report - Delay in publication
31st Mar 20202:13 pmRNSJanuary and February Net Asset Values
31st Mar 20201:01 pmRNSOutcome of KPMG Review & Release of December NAV
24th Mar 20207:00 amRNSMonthly Net Asset Value and Dividend
18th Mar 202011:32 amRNSUpdate on Dividends
18th Mar 20207:00 amRNSForeign Exchange Hedging
5th Mar 20207:00 amRNSConclusion of a further Anaerobic Digestion plant
25th Feb 20207:00 amRNSBoard Responsibilities
21st Feb 20207:00 amRNSNet Asset Value and Dividend
13th Feb 20207:00 amRNSUpdate on AD Plant Valuation & Strategic Review
12th Feb 20207:00 amRNSMarket Update
5th Feb 202011:25 amRNSHolding(s) in Company
28th Jan 202010:08 amRNSStrategic Review Update
27th Jan 202011:40 amRNSHolding(s) in Company
24th Jan 20207:00 amRNSMonthly Net Asset Value and Dividend
24th Jan 20207:00 amRNSStrategic Review
20th Jan 20208:26 amRNSAnaerobic Digestion Assets
2nd Jan 202010:58 amRNSTotal Voting Rights
20th Dec 20197:00 amRNSNet Asset Value and Dividend
11th Dec 20195:43 pmRNSTransaction in Own Shares
9th Dec 20194:46 pmRNSTransaction in Own Shares
5th Dec 20193:51 pmRNSTransaction in Own Shares (Replacement)
4th Dec 20196:00 pmRNSDirectorate Change
4th Dec 20197:30 amRNSTransaction in Own Shares
2nd Dec 20195:01 pmRNSTransaction in Own Shares
28th Nov 20195:30 pmRNSTransaction in Own Shares
22nd Nov 20197:00 amRNSNet Asset Value and Dividend
21st Nov 20194:21 pmRNSResult of AGM and Class Meetings
28th Oct 20194:02 pmRNSNotice of AGM and Class Meetings
28th Oct 20197:00 amRNSMonthly NAV and Dividend
25th Oct 20192:28 pmRNSHolding(s) in Company
8th Oct 20194:38 pmRNSAnnual Financial Report (Replacement)
2nd Oct 201912:01 pmRNSNet Asset Value and Dividend (replacment)
30th Sep 20197:01 amRNSAnnual Financial Report
30th Sep 20197:00 amRNSNet Asset Value and Dividend

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.