Portfolio Update

RNS Number : 6661B

GLI Alternative Finance PLC

08 October 2015

 



8 October 2015

GLI Alternative Finance PLC

(the "Company")

Portfolio Update

Following its admission to the Specialist Fund Market ("SFM") on 23 September 2015, the Company announces that it has acquired further loans from GLI Finance Limited, the parent company of its manager, GLI Asset Management Limited (the "Manager"), and Sancus Limited, a subsidiary of GLI Finance Limited (the "Transaction"). The loans to be acquired from GLI Finance Limited are valued at £4,675,000 (including accrued interest income) with an expected gross interest yield of 9.86 per cent., while the loans to be acquired from Sancus Limited have an expected gross interest yield of 10 per cent. and have a value of £1,250,000.

As a company whose shares are admitted to trading on the SFM, the Listing Rules applicable to closed-ended investment companies which are listed on the premium listing segment of the Official List of the UKLA do not apply to the Company.  However, as set out in the Company's prospectus dated 1 September 2015, as a matter of best practice and good corporate governance the Company has adopted a related party policy which shall apply to any transaction which it may enter into with any Director, the Manager, or any of their affiliates which would constitute a "related party transaction" as defined in, and to which would apply, Chapter 11 of the Listing Rules. In accordance with its related party policy, the Company has obtained: (i) the approval of a majority of the Directors; and (ii) a third-party valuation in respect of this Transaction from an appropriately qualified independent adviser.

For further information, please contact:

GLI Alternative Finance plc Norman Crighton	c/o N+1 Singer or Camarco
GLI Asset Management Limited Geoff Miller / Andy Whelan	[phone]
N+1 Singer Advisory LLP James Maxwell / Lauren Kettle	[phone]
Camarco Ed Gascoigne-Pees / Hazel Stevenson	[phone]

 

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