Further investment in Sancus Isle of Man

RNS Number : 5704A

GLI Finance Limited

27 March 2017

 

GLI Finance Limited

("GLI" or the "Company")

Further investment in Sancus Isle of Man

Investment in Sancus IoM

GLI Finance Limited, a leading investor in the alternative finance sector, today announces that its wholly owned subsidiary, Sancus BMS Group Limited ("Sancus BMS"), has agreed to acquire an additional  2.1 per cent. stake in Sancus IOM Holdings Limited ("Sancus IoM") for a total cash consideration of £163,331 (the "Transaction") . The Transaction will be effected at the same price per share as that paid for the earlier acquisition of 14.0 per cent. announced on 6^th February 2017.

The Transaction will increase Sancus BMS Groups' shareholding in Sancus IoM to 23.1 per cent.  It will allow GLI to further benefit from the growth of the Sancus IoM business as it continues to execute its strategy. The acquisition will be financed from existing Company resources.

Ends

For further information, please contact:

GLI Finance Limited

Andy Whelan

[phone]

Liberum (Nominated Advisor & Corporate Broker)

Steve Pearce

Chris Clarke

Jonathan Wilkes-Green

[phone]

Instinctif Partners (PR Advisor)

Tim Linacre/Nick Woods

[phone]

Inside information

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

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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