4 Mar 2016 11:24
4 March 2016
GLI Finance Limited ("GLI" or "the Company")
Completion of GLIAF share sale
The board of GLI confirms that on 3 March 2016, the Company completed the sale to Golf Investments Limited ("Golf") of 15,000,000 ordinary shares in GLI Alternative Finance plc ("GLIAF") at a price of £1 per share, raising gross proceeds for the Company of £15,000,000. GLI now holds 25,270,763 ordinary shares, representing 47.99% of GLIAF's issued share capital.
Â
Further to the EGM held on 25 February 2016, GLI has, in connection with the sale, issued to Golf warrants exercisable over 32,000,000 ordinary shares in GLI as follows:
Â
- 10,000,000 warrants at 40 pence per ordinary share;
- 10,000,000 warrants at 45 pence per ordinary share; and
- 12,000,000 warrants at 55 pence per ordinary share.
Â
The warrants may be exercised at any time prior to the fourth anniversary of the date of their issue.
Â
Â
Enquiries
GLI Finance Limited
Andy Whelan
+44 (0)1534 708900
Â
Panmure Gordon (Nominated Adviser and Corporate Broker)
Dominic Morley
+44 (0)20 7886 2954
Peter Steel
+44 (0)113 357 1152
Tom Salvesen
+44 (0)20 7886 2904
Â
Instinctif Partners (PR Advisor)
Tim Linacre / Nick Woods
+44 (0)207 457 2020
Â
Â