Business
Further investment in Platform Black
Further investment in Platform Black.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n \nRNS Number : 7096V GLI Finance Limited 20 April 2016 \n\n20th April 2016\nGLI Finance Limited (\"GLI\" or \"the Company\")\nFurther investment in Platform Black\nThe board of GLI Finance announces that on 10 March 2016, the Company subscribed for 5,000,000 new preference shares at par in its 84% owned subsidiary, Platform Black Limited, for an aggregate subscription price of £5,000,000. To date £4,000,000 preference shares have been issued. The preference shares carry a 9% coupon payable quarterly and are non-voting with a five-year maturity.\n \nPlatform Black, an online business finance marketplace for UK SMEs, plans to use the additional funds from its parent company to strengthen its balance sheet and position the business for further growth.\n \nEnquiries\n \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\nCharles Leigh-Pemberton\n+44 (0)20 7886 2906\n \nInstinctif Partners (PR Advisor)\nTim Linacre / Nick Woods\n+44 (0)207 457 2020\n \nAbout GLI Finance Limited\n \nGLI Finance (www.glifinance.com) 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 (ticker GLIF (Ord) and GLIZ (2019 ZDP)). The loans are provided to SMEs through a variety of finance platforms in which GLI Finance has an equity stake.\n \nThe platforms in which GLI Finance is invested vary by geography, industry, size of lending and by type of lending. They include global trade finance, UK and US SME lending, offshore lending, UK invoice discounting, European invoice discounting, supply chain finance and UK property-backed lending.\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCDKLFFQZFXBBK\n ","length":3169,"tagName":"div"}]