Intention to Issue Equity

RNS Number : 8478N

SQN Asset Finance Income Fund Ltd

21 May 2015

 



21 May 2015

SQN Asset Finance Income Fund Limited

Intention to Issue Equity

The Board of SQN Asset Finance Income Fund Limited (the "Company") announces that, pursuant to the placing programme that commenced on 15 July 2014, the Company is seeking to raise up to £30 million through a placing of new ordinary shares of no par value in the Company (the "New Shares") (the "Placing").

The Company has funded, approved and committed investments totalling approximately £173 million of which approximately £112 million represents funded investments, including committed transactions that are due to fund by month end. The Company has a strong pipeline of opportunities totalling £80 million. The net proceeds of the Placing will be used to fund these committed transactions with the balance to be used to fund pipeline opportunities.

The Placing is expected to close at 2.00 p.m. (London time) on 4 June 2015, but may close earlier or later at the absolute discretion of the Company.  The issue price per New Share will be no less than 103.50 pence, representing a 5 per cent. premium to the Company's unaudited net asset value per share as at 30 April 2015.

Application will be made for the New Shares to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange. It is expected that dealings in the New Shares will commence at 8.00 a.m. on 10 June 2015.

The New Shares will, when issued, be credited as fully paid and rank pari passu with the existing ordinary shares of no par value in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid save for the dividend payable on 18 June 2015 to shareholders on the register on 5 June 2015.

For further information please contact:

SQN Capital Management, LLC Jeremiah Silkowski Neil Roberts	01932 575 888
Winterflood Securities Limited	020 3100 0000
Joe Winkley Neil Langford
Buchanan Charles Ryland Sophie McNulty Jason Day	020 7466 5000

 

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