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Secured Income Fund reviews film financing assets; warns of provisioning
StockMarketWire.com
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Specialist lending trust Secured Income Fund warned of substantial provisioning stemming from a review of its film production financing portfolio, which had a book value of £9.6 million at the end of April.
The portfolio comprised six film financings and fund manager KKV had established that Covid-19 restrictions were likely to have a significantly bigger impact on them 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,' Secured Income Fund said.
'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.'
At 9:41am: (LON:SSIF) Sqn Secured Income Fund Plc share price was 0p at 66p
Story provided by StockMarketWire.com
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