focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGLIF.L Regulatory News (GLIF)

  • There is currently no data for GLIF

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Further investment in Sancus Isle of Man

24 Nov 2017 07:00

RNS Number : 3999X
GLI Finance Limited
24 November 2017
 

24 November 2017

GLI Finance Limited

("GLI" or the "Company")

 

Further investment in Sancus Isle of Man

 

GLI Finance Limited, a leading investor in the alternative finance sector, today announces that its wholly owned subsidiary, Sancus BMS Group Limited ("Sancus BMS"), has agreed to acquire an additional 6.2 per cent. stake in Sancus IOM Holdings Limited ("Sancus IoM") for a total consideration of £476,238 (the "Transaction").

 

The Transaction will see Sancus BMS acquire the remaining ordinary shareholdings in Sancus IoM of Andy Whelan (3.1 per cent.) (CEO of GLI, Sancus BMS and Sancus IoM) and John Davey (3.1 per cent.) (Executive Director of Sancus BMS and Sancus IoM) (the "Connected Directors") and will increase Sancus BMS' shareholding in the business to 29.3 per cent. It will allow GLI to further benefit from the growth of the Sancus IoM business as it continues to execute its strategy and will remove the conflicts of interests resulting from the Connected Directors' personal shareholdings. The acquisition will be financed through the transfer of £426,700 of value from the existing GLI 7% Corporate Bonds (due 2021) held by Sancus BMS Group plus £49,538 amount of cash, allocated pro rata between each of the Connected Directors.

 

The Transaction constitutes a related party transaction pursuant to Rule 13 of the AIM Rules for Companies as both Andy Whelan and John Davey are related parties. The Independent Directors of the Company, being those Directors other than Andy Whelan, having consulted with the Company's Nominated Adviser, Liberum Capital Limited, consider the terms of the transaction to be fair and reasonable insofar as the Company's shareholders are concerned.

 

 

For further information, please contact:

 

GLI Finance Limited

Andy Whelan

+44 (0)1534 708900

 

Liberum (Nominated Advisor & Corporate Broker)

Steve Pearce

Chris Clarke

Jonathan Wilkes-Green

+44 (0) 20 3100 2190

 

Instinctif Partners (PR Advisor)

Tim Linacre/Ambrose Fullalove

+44 (0)207 457 2020

 

 

Inside information

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

 

 

 

About GLI Finance

GLI is an AIM listed innovative alternative finance business, which owns a niche SME lender, Sancus BMS that operates in 6 jurisdictions - UK, Ireland, Jersey, Guernsey, Gibraltar and the Isle of Man, and a portfolio of emerging FinTech SME-focussed lending platforms that are located on 3 continents. 

 

LEI: 213800S2XOO3YSEGCA26

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCEAKFDADDXFFF
Date   Source Headline
28th Jul 20157:01 amRNSNotice of interim results and business update
22nd Jul 20157:00 amRNS2015 Second Interim Dividend
21st Jul 201511:47 amRNSHoldings in Company, Shares into Treasury, TVR
14th Jul 20155:05 pmRNSHoldings in Company and SHL liquidation
8th Jul 201511:10 amRNSHolding(s) in Company
2nd Jul 20157:00 amRNSGLI Asset Management Licence
1st Jul 201511:33 amRNSHolding(s) in Company
18th Jun 20157:00 amRNSScrip Dividend Shares - Additional Listing
1st Jun 20157:01 amRNSNAV and operational update
1st Jun 20157:00 amRNSIncrease in Investment
5th May 20157:02 amRNSInvestment in SME credit broker Funding Options
30th Apr 20155:47 pmRNSResult of AGM
30th Apr 20152:30 pmRNSAGM Statement
22nd Apr 20157:00 amRNS2015 First Interim Dividend & NAV Update
13th Apr 20157:00 amRNSGLI Finance invests EUR445,500 in MytripleA
2nd Apr 20154:11 pmRNSShare Dealing
31st Mar 20152:40 pmRNSChange in Regulatory Status
30th Mar 20155:30 pmRNSShare Dealing
30th Mar 20157:00 amRNSIncrease in investment in TradeRiver Finance
27th Mar 20153:34 pmRNSPublication of Annual Report and Notice of AGM
26th Mar 20157:00 amRNSGLI Finance Audited Full Year Results 2014
20th Mar 201512:43 pmRNSShare Dealing
19th Mar 20153:18 pmRNSHolding(s) in Company
19th Mar 20157:00 amRNSScrip Dividend Shares - Additional Listing
18th Mar 20154:18 pmRNSHolding(s) in Company
17th Mar 201510:48 amRNSHolding(s) in Company
16th Mar 20152:45 pmRNSResult of EGM
6th Mar 20157:00 amRNS$1.25 million investment in Open Energy Group
4th Mar 201511:36 amRNSHolding(s) in Company
4th Mar 20157:00 amRNSDisposal of FOIF holding
25th Feb 20158:15 amRNSPublication of shareholder circular
24th Feb 201511:00 amRNSResults of Placing
23rd Feb 201511:33 amRNSProposed Placing
17th Feb 20157:00 amRNSNAV update and exploring launch of fund
21st Jan 20157:00 amRNS2014 Fourth Interim Dividend
8th Jan 201511:28 amRNSHolding(s) in Company
2nd Jan 201511:03 amRNSHolding(s) in Company
23rd Dec 20149:47 amRNSHolding(s) in Company
22nd Dec 201411:36 amRNSHolding(s) in Company
19th Dec 201411:36 amRNSHolding(s) in Company
19th Dec 20147:00 amRNSShare dealing
17th Dec 20147:00 amRNSAcquisition completion, equity issue, new director
12th Dec 20143:25 pmRNSResult of EGM; Acquisition of Sancus
17th Nov 20147:00 amRNSAcquisition and Related Party Transaction
14th Nov 20147:00 amRNSGLI Finance invests $1.28 million in Ovamba
13th Nov 20147:00 amRNSGLI Finance Limited investment Finexkap
28th Oct 20143:26 pmRNSHolding(s) in Company
15th Oct 20147:00 amRNSNet Asset Value(s)
13th Oct 20147:00 amRNSAnnouncement of partnership with UK Bond Network
24th Sep 20147:00 amRNSLoan and related party transaction

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.