Increase in debt facilities and loan book update
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.
10 January 2022
Vector Capital Plc
("Vector" or the "Group")
An increase in wholesale debt facilities and aggregate loan book update
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 Group's wholesale debt facilities and the Group's aggregate loan book at 31 December 2021.
The Board is pleased to announce that the Group has increased its wholesale bank debt facilities by £5.0 million, bringing the total wholesale debt facilities available to the Group to £35.0 million.
The Group's aggregate loan book at 31 December 2021 was £46.3million, a 27.2% increase over the Group's aggregate loan book at 31 December 2020 of £36.4million. This increase reflects: i) the Group's continuing strong performance; ii) the successful deployment of the capital raised at the time of admission of the Group's shares to trading on AIM in December 2020 and the subsequent placing in June 2021; and iii) the debt finance facilities referred to above.
Agam Jain, CEO of Vector commented: "We are delighted to provide an update on the increase in wholesale debt facilities extended by our supportive banking partners and the 27.2% annual increase in our aggregate loan book at 31 December 2021, consistent with the increasing demand for our loans generated from an expanding introducer base."
Further enquiries:
|
Vector Capital Plc Agam Jain |
+44 (0)20 8191 7615 |
|
Allenby Capital Limited James Reeve / George Payne / Nick Naylor (Corporate Finance) Tony Quirke (Sales and Corporate Broking) |
+44 (0) 20 3328 5656 |
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 Group's customers typically borrow for general working capital purposes, bridging ahead of refinancing, land development and property acquisition. The loans provided by the Group are typically for renewable 12-month terms with fixed interest rates.
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