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UK Lender GLI Finance Closes Asset Disposals.

M2 EQUITYBITES-October 6, 2016-UK Lender GLI Finance Closes Asset Disposals


6 October 2016 - UK-based business lender GLI Finance Ltd. (LSE: GLIF) has closed a series of transactions with The SME Loan Fund, the company said.

The transactions will see GLI dispose a number of assets to SMEF including existing holdings in the loan note of a pharmaceutical company, a solar energy construction loan and stakes in two BMS Finance structures.

As part of the deal, GLI will acquire from SMEF USD 800,000 of senior preferred stock in the share capital of The Credit Junction.

The net effect of the transactions is a cash transfer to GLI Finance of GBP 1,553,745.13 (Approx USD 1.97m), which will be used for general corporate purposes.

This is in accordance with GLI's said strategy of lending "to" the platforms and not "through" the platforms and this transaction assists in removing the few remaining loans that we have on our balance sheet lent "through" the platforms.

GLI Finance is a specialist provider of finance to small and medium sized enterprises. Its ordinary shares are quoted on the AIM and its issued zero dividend preference shares are listed and traded on the main market of the London Stock Exchange (tickers GLIF and GLIS and GLIZ (2019 ZDP)).

Loans are provided to SMEs through a variety of finance platforms in which GLI has an equity stake.

The platforms in which GLI Finance is invested vary by geography, industry, size of lending and by type of lending.

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Publication:M2 EquityBites (EQB)
Date:Oct 6, 2016
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