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Secured Income Fund plc (SSIF) ORD GBP0.01

Sell:22.00p Buy:28.00p 0 Change: No change
Market closed Prices as at close on 20 October 2021 Prices delayed by at least 15 minutes | Switch to live prices |
Return of Capital

Secured Income Fund plc ORD GBP0.01

Type:
Return of Capital
Shareholder action required:
Yes
Status:
Update Pending
Details (last updated 9 Mar 2021)

What is happening?

 

The Company wants to return £5,266,035 to shareholders. To do this the Company is proposing a Return of Capital to Shareholders via a Bonus Issue of B Shares. Shareholders at the close of business on 23 March 2021 will be entitled to receive 1 B Share in addition to every 10 ordinary Shares held. The B Shares will be immediately redeemed at £1.00 per B Share, and will not be issued to shareholders.

 

You can vote


The return of capital is subject to Shareholder approval at a meeting being held on Tuesday 23 March 2021.


If you wish to vote you’ll need to do this by noon on Thursday 18 March 2021 so we can pass your vote onto the company before the shareholder meetings.

 

If it’s approved, all shareholders on record at close of business on the 23 March 2021 will receive the cash irrespective of if or how they voted. The cash proceeds are expected to be paid on or shortly after 31 March 2021.


Full details of this event will be sent to qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

 

 

×
Sell:22.00p
Buy:28.00p
Change: No change
Market closed Prices as at close on 20 October 2021 Prices delayed by at least 15 minutes | Switch to live prices |
Return of Capital

Secured Income Fund plc ORD GBP0.01

Type:
Return of Capital
Shareholder action required:
Yes
Status:
Update Pending
Details (last updated 9 Mar 2021)

What is happening?

 

The Company wants to return £5,266,035 to shareholders. To do this the Company is proposing a Return of Capital to Shareholders via a Bonus Issue of B Shares. Shareholders at the close of business on 23 March 2021 will be entitled to receive 1 B Share in addition to every 10 ordinary Shares held. The B Shares will be immediately redeemed at £1.00 per B Share, and will not be issued to shareholders.

 

You can vote


The return of capital is subject to Shareholder approval at a meeting being held on Tuesday 23 March 2021.


If you wish to vote you’ll need to do this by noon on Thursday 18 March 2021 so we can pass your vote onto the company before the shareholder meetings.

 

If it’s approved, all shareholders on record at close of business on the 23 March 2021 will receive the cash irrespective of if or how they voted. The cash proceeds are expected to be paid on or shortly after 31 March 2021.


Full details of this event will be sent to qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

 

 

×
Sell:22.00p
Buy:28.00p
Change: No change
Market closed Prices as at close on 20 October 2021 Prices delayed by at least 15 minutes | Switch to live prices |
Return of Capital

Secured Income Fund plc ORD GBP0.01

Type:
Return of Capital
Shareholder action required:
Yes
Status:
Update Pending
Details (last updated 9 Mar 2021)

What is happening?

 

The Company wants to return £5,266,035 to shareholders. To do this the Company is proposing a Return of Capital to Shareholders via a Bonus Issue of B Shares. Shareholders at the close of business on 23 March 2021 will be entitled to receive 1 B Share in addition to every 10 ordinary Shares held. The B Shares will be immediately redeemed at £1.00 per B Share, and will not be issued to shareholders.

 

You can vote


The return of capital is subject to Shareholder approval at a meeting being held on Tuesday 23 March 2021.


If you wish to vote you’ll need to do this by noon on Thursday 18 March 2021 so we can pass your vote onto the company before the shareholder meetings.

 

If it’s approved, all shareholders on record at close of business on the 23 March 2021 will receive the cash irrespective of if or how they voted. The cash proceeds are expected to be paid on or shortly after 31 March 2021.


Full details of this event will be sent to qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

 

 

×
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Objective

The Company will pursue its investment objective by effecting an orderly realisation of its assets in a manner that seeks to achieve a balance between maximising the value received from those assets and making timely returns of capital to Shareholders. This process might include sales of individual assets, mainly structured as loans, or running off the Portfolio in accordance with the existing terms of the assets, or a combination of both. As part of the realisation process, the Company may also exchange existing debt instruments for equity securities where, in the opinion of the Board, the Company is unlikely to be able to otherwise realise such debt instruments or will only be able to realise them at a material discount to the outstanding principal balance of that debt instrument.

Top 10 holdings currently unavailable.

Top 10 sectors currently unavailable.

Top 10 countries currently unavailable.

Fee Structure

From 17 September 2021, the management fee is 0.55% of the Companys NAV. The Investment Manager is entitled to a performance fee. KKV will be entitled to 10% of all funds returned to Shareholders in excess of the Benchmark NAV within 12 months from 17 September 2020, reducing to 5% within 12-24 months.

Dividend Policy

As a consequence of the decision to proceed with a managed wind-down, the Board has reviewed the dividend policy going forward and has decided to cease paying monthly dividends and intends to pay quarterly dividends as well as returning excess capital as and when the Company has excess cash reserves available for distribution.

ASSET SPLIT

Total number of holdings: 0.

Trust Manager

Dawn Kendall

Manager Bio

Not currently available for this investment trust.

Board Of Directors

David StevensonChairman, Brett Miller, Gaynor Coley

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Objective, holding data, trust manager and bio information, dividend policy, asset split and fee structure are provided by Morningstar.

The London Stock Exchange does not disclose whether a trade is a buy or a sell so this data is estimated based on the trade price received and the LSE-quoted mid-price at the point the trade is placed. It should only be considered an indication and not a recommendation.

Trades priced above the mid-price at the time the trade is placed are labelled as a buy; those priced below the mid-price are sells; and those priced close to the mid-price or declared late are labelled 'N/A'.