Trading Update

RNS Number : 1006U

Vector Capital PLC

01 December 2021

 

This announcement contains Inside Information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).  Upon the publication of this announcement this Inside Information is now considered to be within the public domain.

1 December 2021

Vector Capital plc

("Vector", the "Company" or the "Group")

Trading Update 

Trading ahead of expectations

Vector Capital plc (AIM: VCAP), the commercial lending group that offers secured loans primarily to businesses located in the United Kingdom, today provides the following update on the Board's expectations for trading for the year ending 31 December 2021.

As a result of the Group's continued strong performance since the announcement, on 6 September 2021, of the half year results for the period ended 30 June 2021, the Board now expects revenue and pre-tax profit for the full year, and the aggregate loan book at the year end, to be ahead of current market expectations.

The positive trading levels are consistent with the successful and staged deployment of the additional capital raised at the time of the Company's admission to AIM in December 2020 and subsequent placing in June 2021, and of the increased debt facilities of £30 million provided by the Group's wholesale lenders during 2021.

The Company expects to announce its results and recommend a final dividend for the year ended 31 December 2021 in early April 2022.

Agam Jain, CEO of Vector Capital Plc commented: "We are pleased to update on the continued positive performance of the Group, driven by the increasing demand for our loans from an expanding introducer base."

Further enquiries:

Vector Capital plc Agam Jain	[phone]
Allenby Capital Limited James Reeve/George Payne/Nick Naylor (Corporate Finance) Tony Quirke (Sales and Corporate Broking)	[phone] www.allenbycapital.com

Notes to Editors

Vector Capital Plc provides secured, business-to-business loans to SMEs based in England and Wales. Loans are typically secured by a first legal charge against real estate. The Company's customers typically borrow for general working capital purposes, bridging ahead of refinancing, land development and property acquisition. The loans provided by the Company are typically for renewable 12-month terms with fixed interest rates.

 

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