Business
Completion of GLIAF share sale
Completion of GLIAF share sale.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n \nRNS Number : 1081R GLI Finance Limited 04 March 2016 \n\n4 March 2016\nGLI Finance Limited (\"GLI\" or \"the Company\")\nCompletion of GLIAF share sale\nThe 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. \n \nFurther 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:\n \n- 10,000,000 warrants at 40 pence per ordinary share;\n- 10,000,000 warrants at 45 pence per ordinary share; and\n- 12,000,000 warrants at 55 pence per ordinary share.\n \nThe warrants may be exercised at any time prior to the fourth anniversary of the date of their issue.\n \n \nEnquiries\nGLI Finance Limited\nAndy Whelan\n+44 (0)1534 708900\n \nPanmure Gordon (Nominated Adviser and Corporate Broker)\nDominic Morley\n+44 (0)20 7886 2954\nPeter Steel\n+44 (0)113 357 1152\nTom Salvesen\n+44 (0)20 7886 2904\n \nInstinctif Partners (PR Advisor)\nTim Linacre / Nick Woods\n+44 (0)207 457 2020\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END DISEAFDLEAAKEFF\n ","length":3197,"tagName":"div"}]