Interim Financial Report

RNS Number : 8355Y

Fair Oaks Income Limited

09 September 2022

 

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 its Interim Report and Unaudited Condensed Financial Statements for the period ended 30 June 2022 (the "Interim Report").

Highlights

• The Company's Net Asset Value ("NAV") return per 2021 Share was -5.3% (30 June 2021: +17.1%) for the six month period ended 30 June 2022 on a total return basis (with dividends reinvested). The NAV return per Realisation Share was -5.0% (30 June 2021: +17.0%) for the six month period ended 30 June 2022 on the same basis.

• As at 30 June 2022, the Company's total market capitalisation was US$266 million, comprising US$225 million of 2021 Shares and US$41 million of Realisation Shares.

• The Company's 2021 shares closed at a mid-price of US$0.5750 on 30 June 2022 (30 June 2021: US$0.6675). The 2021 Shares traded at an average discount to NAV of 5.51% during the six month period ended 30 June 2022 (30 June 2021: 1.76%).

• The Company's Realisation shares closed at a mid-price of US$0.6500 on 30 June 2022. The Realisation Shares traded at an average discount to NAV of 3.22% during the six month period ended 30 June 2022.

• The Company declared dividends of 5.00 US cents per 2021 Share and Realisation Share in the six month period ended 30 June 2022.

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

http://www.rns-pdf.londonstockexchange.com/rns/8355Y_1-2022-9-8.pdf

LEI: 2138008KETEC1WM5YP90

Enquiries:

Fair Oaks Income Limited

Email: [e-mail]

Web: www.fairoaksincome.com

Fair Oaks Capital Limited

Investor Relations

DDI: [phone]

Email: [e-mail]

Sanne Fund Services (Guernsey) Limited

Ben Le Prevost

DDI: [phone]

Email:  [e-mail]

Numis Securities Limited

Nathan Brown, Corporate Broking

DDI: [phone]

Email: [e-mail]

Liberum Capital Limited

Chris Clarke, Investment Banking

DDI: [phone]

Email: [e-mail]

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 II LP and FOMC III LP) 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.

 

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