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IN BRIEF: RM Infrastructure wins in claim against former contractor

15th Jan 2024 17:03

RM Infrastructure Income PLC - London-based investor in loans to infrastructure assets - Wins claim against its former contractors, who it has been pursuing a legal claim against since September 2022 via an adjudication process. Says it was awarded around GBP1.2 million by the adjudicator on January 2, with around 90% now having been received in cleared funds. The case refers to an investment loan regarding a 79 bed student accommodation in Coventry, England, which is wholly-owned by the company.

Portfolio Manager Thomas Le Grix de La Salle comments: "The RM Funds Team have been pro-actively working in recovering value for our shareholders, and after many months of hard work it is very pleasing to be able to deliver a positive outcome for our shareholders."

Current stock price: 73.88 pence, down 0.8%

12-month change: down 14%

By Greg Rosenvinge, Alliance News senior reporter

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