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GLI Finance Limited (GLIF)

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Tuesday 28 May, 2019

GLI Finance Limited

Trading Update

RNS Number : 3623A
GLI Finance Limited
28 May 2019
 

28 May 2019

 GLI Finance Limited
(the "Company")

Trading Update

The Company today announces a trading update.

FinTech Ventures

The Board has been made aware that a platform (the "Platform") held within the FinTech Ventures portfolio is facing significant financial difficulties and requires immediate investment to continue trading. Whilst the Platform is in talks with various parties to source immediate further investment, there is no guarantee that such talks will be successful. Accordingly, the Board believes that it is appropriate to write down the value of this investment to zero, resulting in a £1.9m fair value adjustment.

Sancus BMS

The Group's core business, Sancus BMS Group Limited, continues to grow and has performed in line with expectations so far year to date.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.

 

GLI Finance Limited

+44 (0)1534 708900

Andy Whelan

 

 

 

Liberum Capital Limited (Nominated Adviser and Broker)

 

Chris Clarke
Steve Pearce

Trystan Cullen

+44 (0)203 100 2000

 

 

Instinctif Partners (Public Relations Adviser)

+44 (0)207 457 2020

Tim Linacre

Katie Bairsto

 

 


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