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06 April 2023
ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)
Dividend Announcement and Portfolio Update
The Company is pleased to declare an interim dividend of 0.5 pence per share covering the period 1 November 2022 to 31 January 2023.
The dividend is fully covered by the earnings of the Company during the period. The Company's loan portfolio and the interest income it generates continues to reduce, and as a result the announced dividend is at a lower level than prior quarters. In line with previous guidance, dividends will continue to be paid only as cashflow and earnings prudently allow.
The Company has received a partial £4.2 million repayment of the Northlands loan, following sale of certain of the properties securing the loan. In line with the borrower's disposal plan, certain further properties are under offer for sale or have had contracts exchange, with additional repayments expected in the near term. Full recovery of this total outstanding loan balance is expected. On receipt of these repayments, the Company will continue its programme of capital distribution to shareholders and a further announcement will be made in due course.
In early May 2023, the Company will provide a full portfolio update on release of its upcoming Annual Report and audited accounts.
| Distribution period: | 01 November 2022 to 31 January 2023 |
| Distribution amount per share: | 0.5 pence |
| Ex-dividend date: | 20 April 2023 |
| Dividend record date: | 21 April 2023 |
| Payment date: | 19 May 2023 |
For further information, please contact:
| Ocorian Administration (Guernsey) Limited | |
| Louise Manklow
| +44 (0)14 8174 2742 |
| Cenkos Securities: | |
| Will Talkington Daniel Balabanoff
| +44 (0)20 7397 1910 +44 (0)20 7397 1909 |
| ICG Real Estate David Mortimer |
+44 (0)20 3201 7532 |
Further information on the Company can be found on its website at http://www.lbow.co.uk.
ICG Longbow LEI: 2138008BKBH3OP2CA764
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