Return of Capital to Realisation Shareholders
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)
Return of Capital to Realisation Shareholders
The Company announces that it will return US$7,250,000.00 on 25 July 2025 (the "Redemption Date") by way of a compulsory partial redemption of Realisation Shares (the "Seventh Redemption").
The Seventh Redemption will be effected at 52.97 US cents per share, being the NAV per Realisation Share as at 30 May 2025. The Seventh Redemption will be effected pro rata to holdings of Realisation Shares on the register at the close of business on the Redemption Record Date, being 25 July 2025. As at today's date, the Company has 33,131,786 Realisation Shares in issue of which none are held in treasury. On this basis approximately 41.31% of each registered shareholding would be redeemed on the Redemption Date.
Fractions of shares will not be redeemed and so the number of shares to be redeemed for each shareholder will be rounded down to the nearest whole number of shares.
All shares that are redeemed will be cancelled with effect from the Redemption Record Date. Accordingly, once redeemed, shares will be incapable of transfer.
The Realisation Shares will all be disabled in CREST after close of business on the Redemption Date and the existing ISIN, GG00BS08TM44 (the "Old ISIN"), will expire.
The new ISIN, GG00BSWVSD56 (the "New ISIN"), in respect of the remaining shares which have not been redeemed will be enabled and available for transactions from and including the following business day, 28 July 2025.
Up to and including the Redemption Date, Realisation Shares will be traded under the Old ISIN and as such, a purchaser of such Realisation Shares would have a market claim for a proportion of the redemption proceeds. CREST will automatically transform any open transactions as at the Redemption Date into the New ISIN.
The default payment will be US Dollars however, redemption payments can also be paid in Sterling providing the relevant shareholder has registered to receive redemption payments in Sterling. This can be done by completing the election form being posted to all shareholders today, which is also available on the Company's website at http://www.fairoaksincome.com. Election forms must be returned to the Registrar by close of business on 25 July 2025. An announcement will be made prior to the redemption monies being paid to confirm the rate per share to be used to pay shareholders.
Please note that if you have previously advised the Registrar, MUFG Corporate Markets, that you wish to receive your dividends in sterling, you will need to advise them separately using the election mandate form if you also wish to receive redemption payments in sterling.
CREST shareholders must make their currency election via the election mandate form.
The Board anticipates that the Company will receive future distributions from the Master Funds such that further share redemptions may be declared, however, shareholders should note that the Board retains absolute discretion as to the execution, pricing and timing of any returns of capital.
Expected Timetable for Redemption:
|
Posting of Redemption Notice
|
14 July 2025 |
|
Record Date, Redemption date and expiry of old ISIN
|
25 July 2025 |
|
New ISIN enabled
|
28 July 2025 |
|
Redemption monies paid to uncertificated holdings and certificated holdings |
8 August 2025 |
LEI: 2138008KETEC1WM5YP90
Enquiries:
Fair Oaks Income Limited
Email: contact@fairoaksincome.com
Fair Oaks Capital Limited
Investor Relations
DDI: +44 (0) 20 3034 0400
Email: ir@fairoakscap.com
Apex Fund and Corporate Services (Guernsey) Limited
Email: fairoaksgrp@apexgroup.com
Duetsche Numis Securities Limited
Nathan Brown/Matt Goss, Investment Banking
DDI: +44 (0) 20 7260 1426
Email: n.brown@numis.com
Panmure Liberum Capital Limited
Chris Clarke, Investment Banking
DDI: +44 (0) 20 3100 2190
Email: chris.clarke@liberum.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 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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Fair Oaks Income Limited 2021 Shs NPV (FAIR)Fair Oaks Income Limited Realisation Shs NPV (FA17)
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