Secured Income Fund : Circular and Notice of General Meeting Cancellation of Trading 20 October 2021

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IT CONTAINS PROPOSALS RELATING TO SECURED INCOME FUND PLC (THE "COMPANY") ON WHICH YOU ARE BEING ASKED TO VOTE. If you are in any doubt as to the contents of this document or the action you should take, you should seek your own personal financial advice immediately from your stockbroker, bank manager, solicitor, accountant, fund manager or other appropriate financial adviser authorised under the Financial Services and Markets Act 2000, or if you are in a territory outside of the United Kingdom, from an appropriately authorised independent financial adviser.

If you sell or have sold or otherwise transferred all of your registered holding of your ordinary shares in the Company (the "Shares") please send this document, together with the accompanying personalised form of proxy (the "Form of Proxy") at once to the purchaser or transferee of such Shares or to the bank, stockbroker or other agent through whom or by whom the sale or transfer was made, for delivery to the purchaser or transferee. However, subject to certain exceptions, such documents should not be forwarded to or transmitted in or into the United States, Australia, Canada, Japan, New Zealand, the Republic of Ireland or South Africa or to U.S. persons.

This document is not an offer for securities, or the solicitation of an offer to acquire securities, in any jurisdiction nor does it constitute a prospectus or equivalent document. This document is provided solely for the information of the holders of Shares (the "Shareholders") in connection with the General Meeting and not for any other purpose.

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SECURED INCOME FUND PLC

(incorporated and registered in England and Wales with registered number 09682883 and registered as an investment

company under Section 833 of the Companies Act 2006)

Notice of General Meeting

Proposed Cancellation of Trading of the Shares on the Specialist Fund

Segment

________________________________________________________________________________

Notice of a General Meeting of Secured Income Fund plc to be held at 1.40pm on 16 December 2021 is set out at the end of this document.

The paper Form of Proxy for use at the General Meeting accompanies this document and, to be valid, should be completed, signed and returned, together with any power of attorney or other authority under which it is signed or a notarially certified or office copy thereof, in accordance with the instructions printed on it to Link Group, PXS1, Central Square, 29 Wellington Street, Leeds, LS1 4DL, as soon as possible and, in any event, so as to arrive by no later than 1.40pm on 14 December 2021.

On account of the Covid-19 pandemic, Shareholders are discouraged from attending the General Meeting, and entry will be refused if the law and/or government guidance so requires and/or the Board believes it is necessary to ensure the health, wellbeing and safety of the Company's

4158-6679-8129/4/JTF/KJB

Shareholders and officers. In the light of the current circumstances, arrangements are being made by the Company to ensure that only the minimum number of Shareholders or their proxies required to form a quorum will attend the General Meeting. Shareholders are therefore strongly encouraged to participate in the business of the General Meeting by exercising their votes in advance of the General Meeting and appointing the Chairman of the General Meeting as their proxy to vote on their behalf.

Shareholders will be notified of any changes to the proposed format for the General Meeting as soon as possible via RIS and the Company's website (https://kkvim.com/secured-income-fund/).

This document should be read as a whole. Nevertheless, your attention is drawn to the letter from your Chairman of the Company set out in Part I of this document which contains a recommendation from the Board of the Company that you vote IN FAVOUR OF the Cancellation of Trading Resolution to be proposed at the General Meeting. Your attention is also drawn to the section entitled "Actions to be taken by Shareholders" on page 11 of this document. Shareholders should make their own investigations in relation to the Cancellation of Trading, including the merits and risks involved. Nothing in this document constitutes legal, tax, financial or other advice, and if they are in any doubt about the contents of this document, Shareholders should consult their own professional advisers.

Defined terms used in this document have the meanings given to them in the section headed "Definitions" on page 14.

20 October 2021

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	CONTENTS
Part I - Letter from The Chairman ......................................................................................................	5
1.	Introduction............................................................................................................................	5
2.	Background to and reasons for the Cancellation of Trading..................................................	6
3.	Details of the Cancellation of Trading ....................................................................................	8
4.	Investment trust status ........................................................................................................	10
5.	General Meeting...................................................................................................................	11
6.	Actions to be taken by Shareholders....................................................................................	11
7.	Recommendations................................................................................................................	12
Part II- Additional Information ..........................................................................................................	13
1.	The Company........................................................................................................................	13
2.	Distributions .........................................................................................................................	13
3.	Directors' interests in Shares................................................................................................	13
4.	Documents on display ..........................................................................................................	13
Definitions .........................................................................................................................................	14
Notice of General Meeting................................................................................................................	16
Appendix 1 : Investment objective and policy ..................................................................................	20

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EXPECTED GENERAL MEETING TIMETABLE

Date of this Circular	20 October 2021
Latest time and date for receipt of Forms of	14 December 2021 at 1.40 pm
Proxy
General Meeting	16 December 2021 at 1.40 pm
Last day of dealing in Shares	The Business Day which immediately
	precedes the date which is 20 Business
	Days following the date on which the
	published NAV falls below £7 million*
Cancellation of Trading	8.00am on the date which is 20 Business Days
	following the date on which the published
	NAV of the Company is less than £7 million*

• As outlined in this document, the Last day of dealing in Shares and subsequent Cancellation of Trading will occur once the Net Asset Value of the Company falls below £7 million, assuming that the Cancellation of Trading Resolution is passed.

References to times in this document are to London times unless otherwise stated. Any changes to the expected timetable will be notified by the Company through a Regulatory Information Service.

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PART I - LETTER FROM THE CHAIRMAN

SECURED INCOME FUND PLC

(incorporated and registered in England and Wales with registered number 09510201 and registered as an investment

company under Section 833 of the Companies Act 2006)

Directors:	Registered Office:
Gaynor Coley *	Level 13 Broadgate Tower
Brett Miller *	20 Primrose Street
David Stevenson **	London
	EC2A 2EW

*Non-executive Director ** Non-executive Chairman

20 October 2021

Dear Shareholder,

Notice of General Meeting and proposed Cancellation of Trading

1. INTRODUCTION

I am writing to provide you with details of the General Meeting which will be held at 1.40 pm on 16 December 2021.

This document sets out the details of, and seeks your approval of, the proposal to cancel the admission of the Shares to trading on the Specialist Fund Segment.

As the Company is not admitted to the Official List of the Financial Conduct Authority, the Company is not required to comply with the Listing Rules, and there is no formal requirement for shareholder approval for the Cancellation of Trading. However, in accordance with corporate governance best practice, the Company will seek prior approval for such cancellation at a general meeting of the Company by Shareholders representing not less than 75 per cent. of the votes attaching to the Shares voted on the resolution (also referred to herein as a "special resolution"). It is proposed that the General Meeting will be held immediately following the Company's annual general meeting and the Cancellation of Trading Resolution will take effect once the Net Asset Value of the Company falls below £7 million, at which point the Company will notify the LSE of the Cancellation of Trading.

Further details of the Cancellation of Trading and the Cancellation of Trading Resolution which will be put to Shareholders at the General Meeting, are set out below. The Notice of the General Meeting is set out at the end of this document and a Form of Proxy is enclosed with this document.

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