LIV2.L Regulatory News (LIV2)

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SEE "IMPORTANT INFORMATION" BELOW

15 June 2021

LENDINVEST SECURED INCOME PLC

 AUDITED FINANCIAL STATEMENTS OF ITS PARENT, LENDINVEST LIMITED

LendInvest Limited ("LendInvest"), the ultimate holding company of LendInvest Secured Income plc (the "Company"), the leading asset manager, has published its audited financial statements for the twelve months to 31 March 2021.

The Company has delivered those audited financial statements to U.S. Bank Trustees Limited, as trustee of the £500,000,000 Euro Medium Term Note Programme of the Company.

Rod Lockhart, Chief Executive Officer of LendInvest, commented:

"It's undeniable that the past year brought with it a unique set of challenges. Despite this backdrop the business has continued to go from strength to strength, reporting yet another year of milestones and delivering an impressive set of results, with Adjusted EBITDA increasing by almost 200% for FY20/21.

I'd like to thank the whole team for their hard work and commitment during such an extraordinary time. Our business has great momentum, coming through the pandemic stronger than ever after having demonstrated the resilience of our assets, the strength of our tech-enabled platform and our determination to always go the extra mile for our stakeholders. The opportunity in front of us is significant. We will continue to further leverage our platform to target other attractive segments of the market and grow our pool of investor capital. We are looking ahead with excitement and confidence."

Financial Highlights

Business highlights: 

- Announced £625m separate account partnership with J.P. Morgan to support Buy-to-Let product growth

- Partnered with the British Business Bank to become an accredited CBILS lender

- Priced its third securitisation of Buy-to-Let loans for £280m. The transaction was oversubscribed, and achieved the tightest spread on an UK BTL RMBS deal since 2007

- Operated without disruption throughout Covid-19 due to cloud-based infrastructure

- Platform AuM of Buy-to-Let increased to over £1billion as at 31 May 2021

- Developed new end-to-end broker portal for Bridging product

- The company has begun discussing a potential IPO with institutional investors, but all options remain open

Highlights - LendInvest Secured Income plc:

- Weighted average interest coverage ratio of 183% and 194% on series 1 and series 2, respectively

- Weighted average LTV of 62% and 64% on series 1 and series 2, respectively

- 51% and 46% located in London in series 1 and series 2, respectively

- 92% and 96% first charge loans in series 1 and series 2, respectively

- Total assets (loans plus cash) of £54.2m and £61.6m for series 1 and series 2, respectively[4]

To review LendInvest's Annual Report for the year ending 31 March 2021, please visit: https://docs.lendinvest.com/web/public-pdfs/full-year-financial-results-for-lendinvest-ltd-june-2021.pdf

For further information, please contact:

Leigh Rimmer

leigh@lendinvest.com 

+44 (0)203 846 6817

IMPORTANT INFORMATION

This announcement is released by LendInvest Limited and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to the bond programme mentioned above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Rod Lockhart, CEO for LendInvest Limited.

The distribution of this announcement and other information in connection with any offer in certain jurisdictions may be restricted by law and persons who come into possession of this announcement or any document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any jurisdiction.

This document contains statements that are, or may be deemed to be, 'forward-looking statements' with respect to the financial condition, results of operations and business of the Company or of LendInvest Limited (or its group) and certain of the plans and objectives of the Company, LendInvest Limited and its group with respect to these items. Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as 'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would', 'should', 'expects', 'believes', 'intends', 'plans', 'projects', 'potential', 'reasonably possible', 'targets', 'goal', 'estimates' or words with a similar meaning, and, in each case, their negative or other variations or comparable terminology. Any forward-looking statements in this document are based on the current expectations of the Company, LendInvest Limited and its group (as applicable) and, by their very nature, forward-looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future.

Forward-looking statements are not guarantees of future performance and no assurances can be given that the forward-looking statements in this document will be realised. There are a number of factors, many of which are beyond the control of the Company, LendInvest Limited and its group, that could cause actual results, performance and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to: the Risk Factors disclosed in the Company's Base Prospectus dated 19 OctoberJuly 2017 (which have not been updated since the date of its publication); changes in the economies and markets in which the group operates; changes in the regulatory and competition frameworks in which the group operates; the impact of legal or other proceedings against or which affect the group; and changes in interest and exchange rates.

All written or verbal forward-looking statements made in this document or made subsequently, which are attributable to the Company, LendInvest Limited or any other member of the group or persons acting on their behalf are expressly qualified in their entirety by the factors referred to above. No assurances can be given that the forward-looking statements in this document will be realised. This document speaks as at the date of publication. Save as required by applicable laws and regulations, none of the Company, LendInvest Limited or any member of its group intends to update any forward-looking statements and does not undertake any obligation to do so. Past performance of securities of the Company cannot be relied upon as a guide to the future performance of securities of the Company. Nothing in this document should be regarded as a profits forecast.

This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any securities.

[1] Platform AuM represent unaudited gross management accounts loans and advances

[2] Platform revenue represents unaudited gross management accounts revenue

[3] Adjusted EBITDA represents unaudited gross management accounts EBITDA

[4] LendInvest repurchased £7,315,000 in aggregate principal amount of the Company's sterling-denominated 5.25 per cent. fixed rate bonds due 10 August 2022. The aggregate principal amount of the Bonds that remains outstanding on 7 April 2020 is £52,685,000. The Bonds that were repurchased have been cancelled.