Volta Finance Limited - Dividend Declaration

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Volta Finance Limited (VTA/VTAS)

Dividend Declaration / Change to Dividend Policy

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION,
IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Guernsey, 28 February 2020

Volta Finance Limited ("the Company") hereby announces a first interim dividend for the financial year commencing 1 August 2019 and a small change to the Company's dividend policy.

In recent years, the Company has sought to pay a total dividend of €0.62 per share per annum, paid quarterly each December, March, June and September, alternating between €0.15 and €0.16 per quarter.

The Company will continue to seek to pay dividends of approximately 8% of NAV per annum, absent a notable change in circumstances. This will also still be paid quarterly. However, henceforth, and commencing with this dividend declaration, for simplicity this will be paid in a regular amount of €0.155 per share and the payment date will move approximately one month later, to January, April, July and October.

This change of payment date reflects the cash flow receipts by the Company from its underlying holdings, particularly CLOs, which are concentrated in those months. Moving the payment dates should significantly reduce the need to sell holdings to meet dividend payments and then later reinvestment following receipt of cash flows or the alternative of cash drag. The Investment Manager estimates that this change of payment date should enhance total shareholder returns by around 0.10-0.15% per annum and the Board finds this a compelling increase in return for what is, in effect, a small administrative change.

Accordingly, the Company announces that it has declared a quarterly interim dividend of €0.155 per share payable on 28 April 2020 amounting to approximately €5.7 million. The ex-dividend date is 2 April 2020 with a record date of 3 April 2020 and a payment date on 28 April 2020.

ARIVA.DE Börsen-Geflüster

Kurse

Volta Finance Ltd

5,00 €

0,00%

The Company has arranged for its shareholders to be able to elect to receive their dividends in either Euros or Pounds Sterling. Shareholders will, by default, receive their dividends in Euros, unless they have instructed the Company’s Registrar, Computershare Investor Services (Guernsey) Limited (“Computershare”), to pay dividends in Pounds Sterling. Such instructions may be given to Computershare either electronically via CREST or by using the Currency Election Form which has been posted to shareholders and a copy of which is also available on the website www.voltafinance.com within the “Investors – Other Documents” section. The deadline for receipt of currency elections is 12:00 (midday) on 6 April 2020.

For further information, please contact:
Company Secretary and Administrator
BNP Paribas Securities Services S.C.A, Guernsey Branch
guernsey.bp2s.volta.cosec@bnpparibas.com

+44 (0) 1481 750 853

Corporate Broker
Cenkos Securities plc
Rob Naylor
Will Talkington
Andrew Worne
+44 (0) 20 7397 8900

For the Investment Manager
AXA Investment Managers Paris
Serge Demay
serge.demay@axa-im.com

+33 (0) 1 44 45 84 47

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ABOUT VOLTA FINANCE LIMITED

Volta Finance Limited is incorporated in Guernsey under The Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange's Main Market for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.

Volta’s investment objectives are to preserve capital across the credit cycle and to provide a stable stream of income to its shareholders through dividends. Volta seeks to attain its investment objectives predominantly through diversified investments in structured finance assets. The assets that the Company may invest in either directly or indirectly include, but are not limited to: corporate credits; sovereign and quasi-sovereign debt; residential mortgage loans; and, automobile loans. The Company’s approach to investment is through vehicles and arrangements that essentially provide leveraged exposure to portfolios of such underlying assets. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.

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ABOUT AXA INVESTMENT MANAGERS
AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 739 investment professionals and €750 billion in assets under management as of the end of March 2019.

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This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are "U.S. persons" for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. The company does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.

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This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.

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