Acquisition of shares in LM Funding America, Inc.

RNS Number : 2605H

Craven House Capital PLC

14 November 2018

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Craven House Capital plc

("Craven House" or the "Company")

Acquisition of shares in LM Funding America, Inc.

Craven House is pleased to announce its participation in a Public Offering for shares of LM Funding America, Inc. (NASDAQ: LMFA, "LMFA"). The Company has acquired 640,000 common shares at a price of $2.40 per share for a total consideration of c.$1.5m. The Company's position represents 31.5% of the common shares in LMFA.

In the year to 31 December 2017, LM Funding America made a loss before income tax of $5.2m and had total assets of $2m.

About LM Funding America:

LM Funding America, Inc., together with its subsidiaries, is a technology-based specialty finance company that provides funding to non-profit community associations ("Associations") primarily located in the state of Florida, as well as in the states of Washington, Colorado and Illinois. The company offers funding to Associations in return for acquiring the associations' rights to delinquent accounts that are selected by the Associations arising from unpaid Association assessments. The company is also involved in the business of acquiring delinquent accounts on various terms tailored to suit each Association's financial needs, including under the company's New Neighbour Guaranty™ program.

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For further information please contact:

Craven House Capital Plc Mark Pajak www.Cravenhousecapital.com	Tel:   [phone]
SI Capital Broker Nick Emerson www.sicapital.co.uk	Tel: [phone]
SPARK Advisory Partners Limited Nominated Adviser Matt Davis/Mark Brady www.Sparkadvisorypartners.com	Tel:   [phone]

About Craven House Capital:

The Company's Investing Policy is to invest in or acquire a portfolio of companies, partnerships, joint ventures, businesses or other assets globally in any geographic jurisdiction. The company will invest in both developed and developing markets providing long term patient capital and is often involved in special situations, restructuring, expansion and turn around investments in crisis and transitioning economies.

 

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