8 Nov 2017 15:30
8 November 2017
SQN Asset Finance Income Fund Limited
Update on Discussions with Snoozebox Holdings plc
SQN Asset Finance Income Fund Limited (the "Company" or "SQN"), the leading diversified equipment leasing fund listed in the UK, notes the announcement (RNS Number: 9145V) by Snoozebox Holdings plc ("Snoozebox") regarding discussions concerning its debt repayment obligations and long-term capital structure.
This is consistent with the restructuring plans, as previously announced to the Company's shareholders, to ensure the longevity of the core assets and a full amortisation of capital with payment of interest to SQN. Following discussions with multiple interested parties, the Board of SQN can confirm it is in the final stages of negotiations regarding the repositioning of Snoozebox's core assets.
The Board look forward to providing a further update on these discussions in due course.
Ends
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
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| 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.