Fair Oaks Income Limited

Report Publication Announcement • Sep 5, 2019

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RNS Number : 2633L

Fair Oaks Income Limited

05 September 2019

Fair Oaks Income Limited

5 September 2019

FAIR OAKS INCOME LIMITED (the "Company")

(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)

INTERIM FINANCIAL REPORT

The Board of Fair Oaks Income Limited is pleased to release the Interim Report for the period ended 30 June 2019.

Highlights

·       Fair Oaks Income Limited's (the "Company") Net Asset Value ("NAV") per 2017 Share was up 2.4% for the period ended 30 June 2019 on a total return basis (with dividends reinvested). This compares to the JP Morgan US Leveraged Loan Index, which was up 5.6% and the JP Morgan US High Yield Index, which was up 9.9%.

·       As at 30 June 2019, the Company's total market capitalisation was US$377.4 million.

·       The Company's 2017 share price closed at a mid-price of US$0.8325 on 28 June 2019, generating a total return (with dividends reinvested) of 14.3% for the period. The 2017 Shares traded at an average discount to NAV of -0.53% during the first half of 2019.

·       On 1 April 2019, the Company completed a final compulsory redemption of all remaining 21,942,137 2014 Shares previously in issue. This was completed via a cash redemption funded by FOMC II LP and (for those electing) in specie distributions of 2014 Shareholders' pro rata exposure to the Company's interest in FOIF LP.

Click on, or paste the following link into your web browser to view the Interim Report.

http://www.rns-pdf.londonstockexchange.com/rns/2633L_1-2019-9-4.pdf

LEI: 2138008KETEC1WM5YP90

Enquiries:

Fair Oaks Income Limited

Email: contact@fairoaksincome.com

Web: www.fairoaksincome.com

Fair Oaks Capital Limited

Investor Relations

DDI: +44 (0) 20 3034 0400

Email: ir@fairoakscap.com

Praxis Fund Services Limited

Ben Le Prevost

DDI: +44 (0) 1481 755524

Email: Ben.LePrevost@praxisifm.com

Numis Securities Limited

Nathan Brown, Corporate Broking

DDI: +44 (0) 20 7260 1426

Email: n.brown@numis.com 

Fair Oaks Income Limited

Fair Oaks Income Limited is a registered closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange (now the Specialist Fund Segment of the Main Market of the London Stock Exchange) on 12 June 2014.

The investment policy of the Company is to invest (either directly and/or indirectly through FOIF LP (the "Master Fund") and/or FOMC II LP ("Master Fund II") in 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 remaining invested in the Master Fund and making new investments in Master Fund II.

Notes

This document is for information purposes only and is not an offer to invest. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective  investors are  advised  to seek  expert  legal, financial, tax  and other  professional advice  before making  any  investment decisions.

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.

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