15 Mar 2023 10:45
15 March 2023
Secured Income Fund plc
Legal Entity Identifier: 213800TR2S2TT6PKVH57
Confirmation of Cancellation of Capital Redemption Reserve
At a general meeting of Secured Income Fund plc (the "Company") held on 15 December 2022, a special resolution of shareholders approving, subject to the confirmation of the High Court of Justice (the "High Court"), the cancellation of the entire amount standing to the credit of the Company's capital redemption reserve (the "Reduction of Capital") was passed.
The Company is now pleased to announce that the final hearing in the Court process to cancel the amount standing to the credit of its capital redemption reserve was held on 28 February 2023 and an order was pronounced by the High Court confirming the cancellation of that part of the Company's share capital (the "Order"). The Order has now been registered at Companies House, together with a statement of capital approved by the High Court, and the Reduction of Capital is now effective with all steps required in connection with the process having been completed.
As explained in the Company's circular to shareholders dated 22 November 2022, the purpose of the Reduction of Capital is to improve the Company's distributable reserves position. The Company is pleased to confirm that the Reduction of Capital has resulted in an increase of £19.5 million in the Company's distributable reserves.
For further information please contact:
Directors David Stevenson (Chair) Susan Gaynor Coley Brett Miller
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tel: +44 7973 873785 tel: +44 7977 130673 tel: +44 7770 447338
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