RM Infrastructure Income (RMII)

Sector:

Investment Firms

Index:

FTSE Small Cap

71.80p
   
  • Change Today:
      0.60p
  • 52 Week High: 80.00
  • 52 Week Low: 69.60
  • Currency: UK Pounds
  • Shares Issued: 97.58m
  • Volume: 11,872
  • Market Cap: £70.06m

RM Secured Direct Lending to support Energie Fitness management buyout

By Josh White

Date: Wednesday 24 Jun 2020

LONDON (ShareCast) - (Sharecast News) - RM Secured Direct Lending (RMDL) updated the market on its £7m senior secured loan to UK and Ireland low-cost gym franchisor Énergie Fitness on Wednesday.
The London-listed firm said its investment manager RM Funds, Énergie's executive management team, and its sponsor, had been in negotiations over the need for additional working capital to support the business during the period of government-imposed closure.

RM Funds had "consulted extensively" with the directors of Énergie to work through a number of scenarios, with a view to maximising value for all stakeholders while the business navigated the "unprecedented" Covid crisis.

RMDL said on Wednesday that as a result of those consultations, it was supporting a management buyout of the business.

The buyout was being led by the chain's founder Jan Spaticchia, who would reacquire the business, with backing from RMDL and a consortium of investors, including several of Énergie's original founder-shareholders.

Énergie Global Franchising had been formed to acquire the business, trade and assets of the Énergie Group, with a "significantly strengthened" executive team, balance sheet and a new corporate structure.

"The acquisition and recapitalisation of the business preserves RMDL's senior secured investment, enhances RMDL's economic interest, secures jobs and provides certainty of funding, allowing Jan and the management team to restore the growth of the business and brand, once gyms are allowed to reopen," said RM Funds portfolio manager Pietro Nicholls.

"This demonstrates the benefits of RMDL's strategy to provide tailored, secured debt solutions to high quality businesses as well as the ability of the investment manager to act flexibly and work with borrowers to find resolutions and preserve the interests of RMDL's shareholders."

At 1045 BST, shares in RM Secured Direct Lending were down 2.69% at 75.9p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

RMII Market Data

Currency UK Pounds
Share Price 71.80p
Change Today 0.60p
% Change 0.84 %
52 Week High 80.00
52 Week Low 69.60
Volume 11,872
Shares Issued 97.58m
Market Cap £70.06m

RMII Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
99.27% above the sector average99.27% above the sector average99.27% above the sector average99.27% above the sector average99.27% above the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
61.39% below the sector average61.39% below the sector average61.39% below the sector average61.39% below the sector average61.39% below the sector average
Income
Market averageMarket averageMarket averageMarket averageMarket average
91.00% above the sector average91.00% above the sector average91.00% above the sector average91.00% above the sector average91.00% above the sector average
Growth
Market averageMarket averageMarket averageMarket averageMarket average
85.77% below the sector average85.77% below the sector average85.77% below the sector average85.77% below the sector average85.77% below the sector average

RMII Dividends

  Latest Previous
  Q3 Q2
Ex-Div 07-Nov-24 22-Aug-24
Paid 29-Nov-24 16-Sep-24
Amount 1.62p 1.62p

Trades for 13-Dec-2024

Time Volume / Share Price
13:02 1,425 @ 72.60p
11:14 6,770 @ 72.60p
10:56 2 @ 72.60p
10:56 9 @ 72.60p
10:15 1,399 @ 72.60p

Top of Page