GLI Finance Limited Completion of asset disposals (4720L)
October 03 2016 - 2:27AM
UK Regulatory
TIDMGLIF
RNS Number : 4720L
GLI Finance Limited
03 October 2016
3(rd) October 2016
GLI Finance Limited
(the "Company" or "GLI")
Completion of asset disposals
The Board of GLI announces that, on 30(th) September 2016, the
Company conducted a series of transactions with The SME Loan Fund
("SMEF"). The transactions will see GLI dispose a number of assets
to SMEF including existing holdings in the loan note of a
pharmaceutical company, a solar energy construction loan and stakes
in two BMS Finance structures. As part of the deal, GLI will
acquire from SMEF $800,000 of Senior Preferred Stock in the share
capital of The Credit Junction. The net effect of the transactions
is a cash transfer to GLI Finance of GBP1,553,745.13, which will be
used for general corporate purposes. This is in accordance with
GLI's stated strategy of lending "to" the platforms and not
"through" the platforms and this transaction assists in removing
the few remaining loans that we have on our balance sheet lent
"through" the platforms.
Enquiries
GLI Finance Limited
Andy Whelan
+44 (0)1534 708900
Liberum Capital (Nominated Adviser and Broker)
Steve Pearce
Henry Freeman
Chris Clarke
+44 (0) 207 100 2000
Instinctif Partners (PR Advisor)
Tim Linacre/Nick Woods
+44 (0)207 457 2020
About GLI Finance
GLI Finance (www.glifinance.com) is a specialist provider of
finance to small and medium sized enterprises. Its ordinary shares
are quoted on the AIM and its issued zero dividend preference
shares are listed and traded on the main market of the London Stock
Exchange (tickers GLIF and GLIS (Ord) and GLIZ (2019 ZDP)). Loans
are provided to SMEs through a variety of finance platforms in
which GLI has an equity stake.
The platforms in which GLI Finance is invested vary by
geography, industry, size of lending and by type of lending. They
include UK and US SME Lending, Offshore Lending, UK and European
Invoice Discounting, Supply Chain Finance, Global Trade Finance and
UK Property-Backed Lending.
This information is provided by RNS
The company news service from the London Stock Exchange
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