28 May 2019 13:59
28 May 2019
GLI Finance Limited(the "Company")
Trading Update
The Company today announces a trading update.
FinTech Ventures
The Board has been made aware that a platform (the "Platform") held within the FinTech Ventures portfolio is facing significant financial difficulties and requires immediate investment to continue trading. Whilst the Platform is in talks with various parties to source immediate further investment, there is no guarantee that such talks will be successful. Accordingly, the Board believes that it is appropriate to write down the value of this investment to zero, resulting in a £1.9m fair value adjustment.
Sancus BMS
The Group's core business, Sancus BMS Group Limited, continues to grow and has performed in line with expectations so far year to date.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.
GLI Finance Limited | +44 (0)1534 708900 |
Andy Whelan |
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Liberum Capital Limited (Nominated Adviser and Broker) |
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Chris ClarkeSteve Pearce Trystan Cullen | +44 (0)203 100 2000 |
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Instinctif Partners (Public Relations Adviser) | +44 (0)207 457 2020 |
Tim Linacre Katie Bairsto |
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GLIF.L (GLIF)