Further investment in Platform Black

RNS Number : 7096V

GLI Finance Limited

20 April 2016

 

20^th April 2016

GLI Finance Limited ("GLI" or "the Company")

Further investment in Platform Black

The board of GLI Finance announces that on 10 March 2016, the Company subscribed for 5,000,000 new preference shares at par in its 84% owned subsidiary, Platform Black Limited, for an aggregate subscription price of £5,000,000. To date £4,000,000 preference shares have been issued. The preference shares carry a 9% coupon payable quarterly and are non-voting with a five-year maturity.

Platform Black, an online business finance marketplace for UK SMEs, plans to use the additional funds from its parent company to strengthen its balance sheet and position the business for further growth.

Enquiries

GLI Finance Limited

Andy Whelan

[phone]

Panmure Gordon (Nominated Adviser and Corporate Broker)

Dominic Morley

[phone]

Peter Steel

[phone]

Charles Leigh-Pemberton

[phone]

Instinctif Partners (PR Advisor)

Tim Linacre / Nick Woods

[phone]

About GLI Finance Limited

GLI Finance (www.glifinance.com) is a specialist provider of finance to small and medium sized enterprises. Its ordinary shares are quoted on the AIM and its issued zero dividend preference shares are listed and traded on the main market of the London Stock Exchange (ticker GLIF (Ord) and GLIZ (2019 ZDP)). The loans are provided to SMEs through a variety of finance platforms in which GLI Finance has an equity stake.

The platforms in which GLI Finance is invested vary by geography, industry, size of lending and by type of lending. They include global trade finance, UK and US SME lending, offshore lending, UK invoice discounting, European invoice discounting, supply chain finance and UK property-backed lending.

 

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