LONDON (Alliance News) - GLI Finance Ltd said Friday that it has raised GBP15 million by selling 15 million shares in GLI Alternative Finance PLC to Golf Investments Ltd for 100 pence each.
Shares in GLI Alternative Finance were up 0.4% at 96.90 pence Friday morning, whilst shares in GLI Finance were down 2.7% at 31.02 pence.
Following this sale GLI Finance retains a 47.99% stake in GLI Alternative Finance, or 25.3 million shares. It also has warrants exercisable over 32 million shares in GLI Alternative Finance.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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