Completion of asset disposals

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 £1,553,745.13, 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

[phone]

Liberum Capital (Nominated Adviser and Broker)

Steve Pearce

Henry Freeman

Chris Clarke

[phone]

Instinctif Partners (PR Advisor)

Tim Linacre/Nick Woods

[phone]

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.

 

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