Update on convertible unsecured bonds

RNS Number : 5724I

GLI Finance Limited

10 December 2015

 

10 December 2015

GLI Finance Limited

Update on convertible unsecured bonds

GLI Finance Limited ("GLI") provides an update on its plans announced on 17 November 2015 to consider the issue of further securities in order to refinance certain existing borrowings as well as to provide additional working capital and growth. The related prospectus and circular to shareholders (the "Circular") were published on 3 December 2015.

One option detailed in the Circular is to replace GLI's current loan facility with convertible unsecured bonds ("CULS"), at a lower running interest cost. Following the recent share price movement the Board would like to make explicit that it will not consider a CULS issue with a conversion price below the current NAV of the company. The Company's unaudited NAV per share as at 30 September 2015 was 52.30p and a detailed breakdown of the NAV is available on GLI's website.

-Ends-

For further information, please contact:

GLI Finance Limited

Geoffrey Miller

[phone]

[phone]

Panmure Gordon

Dominic Morley

[phone]

Camarco

Ed Gascoigne-Pees

[phone]

[phone]

About GLI Finance Limited

GLI Finance (www.glifinance.com) is a specialist provider of finance to small and medium sized enterprises and is quoted on the AIM market of the London Stock Exchange (ticker GLIF). GLI Finance both invests in loans to SMEs and originates finance for SMEs through a variety of finance platforms.

The platforms in which GLI Finance is invested vary by geography, industry, size of lending and by type of lending. They include Global trade Finance, UK and US SME Lending, Offshore Lending, UK invoice discounting, European invoice discounting, Global multi-asset crowd funding and UK property-backed lending.

 

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