Fair Oaks Income Seeks Shareholder Permission For Share Issue (ALLISS)

14th Mar 2018 13:24

LONDON (Alliance News) - Fair Oaks Income Ltd said Wednesday it is to potentially issue 22.5 million new shares after the company received a commitment from an investor.

The issue of the new shares is conditional on approval at an extraordinary general meeting, to be held on March 29.

The price will be set once Fair Oaks announces its February-end net asset value per share, though it expects the issue price to be a premium of around 1.5% of that figure.

The proceeds would be used to fund a new primary investment opportunity of approximately USD35.0 million in a collateralised loan obligation equity security.

Fair Oaks shares were down 1.5% on Wednesday at 0.970 pence each.

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