1 June 2021
Secured Income Fund plc
Review of Film Production Financing
Secured Income Fund plc (LSE: SSIF) (the "Company"), a specialist secured lending income investment trust, listed in the UK, announces that it is undertaking a review of its Film Production Financing portfolio, which had a book value for all six loans of £9,586,462 as of April 30, 2021.
The portfolio comprises six film financings and the Fund Manager, KKV, has established that the restrictions and changed operating practices resulting from the COVID pandemic are likely to have a significantly bigger detrimental impact on these assets than originally anticipated.
The review of the portfolio, is therefore expected to result in a substantial increase in provisioning against the book values of all six loans. KKV is working proactively with the borrower to ensure the best possible outcome for shareholders. A further announcement will be made once the review is concluded.
For further information please contact:
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| Directors David Stevenson (Chair) Susan Gaynor Coley Brett Miller
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tel: +44 7973 873 785 tel: +44 7977 130 673 tel: +44 7770 447 338
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| KKV Investment Management Ltd Catherine Halford Riera
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| finnCap Ltd. Corporate Finance: William Marle Sales: Mark Whitfeld | tel: +44 20 7220 0500
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