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RM Infrastructure Income PLC shares fell on Friday as it said it has completed a £12.4 million tender offer as part of its ongoing managed wind-down. RM Infrastructure Income is an investment company managed by Edinburgh- and London-based RM Funds that lends to assets ‘providing essential services to society’. It has been in managed wind-down since December 2023. The company said its latest tender offer was taken up in full. It will purchase 16.6 million shares, equivalent to a basic entitlement percentage of around 22% for eligible shareholders. The shares will be purchased at the tender price of 74.77 pence each, a total of £12.4 million. Shares in RM Infrastructure were down 4.2% at 58.80p on Friday afternoon in London. Taken with a September 2024 tender offer for £17.5 million, RM Infrastructure said the two tenders represent around 35% of the shares outstanding at the time of the wind-down announcement in December 2023. The company said its net asset value total return in 2025 was negative 10%. The net asset value per share at the end of 2025 was 74.98p, down 12% from 84.73p a year prior. RM Infrastructure said ‘a lot of groundwork’ was done during 2025 to facilitate property sales during 2026 and 2027 that form the security to some of its remaining loans. ‘In addition, a lot of work is being undertaken to maximise value as expediently as possible within the two businesses where RMII also has substantial equity ownership and see the repayment of the loan exposures relating to these holdings,’ said Chair Norman Crighton. The investment manager said ‘good progress’ has been made in reducing the invested capital to £55.5 million from around £101.4 million two years ago. ‘In what is a challenging environment for refinancings and otherwise corporate exits, it is pleasing to have returned material amounts of capital to shareholders,’ RM Capital Markets said. The investment manager noted that taking into account two ‘sizeable repayments’ at par in December 2025, it has managed to return around 50% of shareholder’s capital by the end of 2025, matching the target from the start of the process. ‘A lot of work has been and continues to be undertaken on the remaining investment loans with subject to market condition we expect to complete successful exits by end of 2027,’ RM Capital Markets said. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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