AGM statement and quarterly trading update

RNS Number : 4119M

Vector Capital PLC

24 May 2022

 

Vector Capital Plc

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

AGM statement and quarterly trading update

"Continuing to scale the business"

Ahead of the Company's Annual General Meeting ("AGM") being held at noon today at 13 Sovereign Park, Coronation Road. London, NW10 7QP, Vector Capital Plc (AIM: VCAP), a commercial lending group that offers secured loans primarily to property developers located in England & Wales, is pleased to provide an update on the Group's loan book and a trading update for the quarter ended 31 March 2022.

Loan book summary

As summarised below our loan book has grown by £4.5 million, or 9.8 %, in the three months to 31 March 2022, with the number of live loans increasing to 89 from 79 in the same period.

	As at 31/03/22	As at 31/12/21	As at 31/12/20
Loan book	£50.8m	£46.3m	£36.4m
Number of live loans	89	79	63
Average loan size	£571,000	£586,000	£577,000
Average loan to value	57.8%	53.5%	44.2%

Trading update

Despite the challenging economic conditions arising from rising inflation and higher interest rates and the uncertain geopolitical situation in Europe, current trading in 2022 has been in line with market expectations. The Company has continued to expand and develop its loan book, maximise shareholder returns and further establish its place in the market segment.

The Group continues to widen and deepen its relationships with its broker network to identify suitable lending opportunities and is maintaining a regular dialogue with providers of wholesale funding to maintain the financing flexibility required to help the business grow.

  Agam Jain, CEO of Vector Capital will make the following statement at the AGM:

"We have traded strongly in Q1 2022 and our pipeline of new loan opportunities remains strong despite increasing competition in the market and the general uncertain economic climate. The proven strength and resilience of the loan management systems that we utilise underpins our ability to grow.

"The Group remains well placed to benefit from these opportunities to increase market share and grow revenue and we remain on track to establish ourselves as the lender of choice in our market segment. The Board is confident that the Group is well placed to achieve continued success and we view the future with confidence and optimism."

 For further information please contact:

Vector Capital plc	020 8191 7615
Robin Stevens (Chairman)
Agam Jain (CEO)
WH Ireland Limited	020 7220 1666
Chris Hardie, Jessica Cave, Megan Liddell
IFC Advisory Limited	020 3934 6630
Graham Herring, Florence Chandler, Zach Cohen

Notes to Editors

Vector Capital Plc provides secured, business-to-business loans to SMEs based principally 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.

For more information on Vector visit: www.vectorcapital.co.uk

 

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