Business
Full Year Results 2010
Full Year Results 2010.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 6917D Greenwich Loan Income Fund Ltd 28 March 2011 \n \n\n \n \nGreenwich Loan Income Fund Limited\n \nFull Year Results 2010\n \n28 March 2011\n \nGreenwich Loan Income Fund Limited (\"GLIF\" or the \"Company\"), a close-ended Guernsey exempt investment company, investing in debt securities of companies across multiple sectors, today announces its audited results for the twelve months ended 31 December 2010. The Company's portfolio consists of corporate loans, almost all of which are held within the Company's collateralized loan obligation subsidiary, T2 CLO I Ltd, (\"the CLO\").\n \nFinancial highlights\n· Invested assets with a fair value of £161.5m (2009: £153.3m) and cash of £36.7m at 31 December 2010 (2009: £24.3m), of which £157.1m of the investments and £30.4m of cash are within the CLO structure.\n· Net asset value at 31 December 2010 of 79p per share (2009:70p). \n· Net profit, including the combination of net unrealized gains on investments and liabilities, for the period of £11.1m (2009: £2.0m). \n· Basic earnings per share of 12.7p (2009: 3.9p).\n· Dividends declared of 4.0p per share for the 12 month period to 31 December 2010 (2009: 2.0p).\n· Total shareholder return of 25.5% for the year. \n· Full interest payments made to the Company from the CLO, resulting in four quarters of dividend payments. \n \nOutlook and strategy\n· Acquisition of Asset Management Investment Company (AMIC), completed in January and the Company continues to pursue opportunities to strengthen GLIF beyond its current assets and build the long-term prospects for dividend and capital growth. \n· Additional listing of the Company on the Channel Islands Stock Exchange (CISX) in February, providing GLIF with its first listing on a Recognised Stock Exchange and enabling investors to hold their investment in ISAs or PEPs. \n· Clarity on the longer-term investment parameters for the Company set out and agreed by shareholders in the amended investment policy. \n· &...