Business
Issue of Equity
Issue of Equity.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n \nRNS Number : 2134P GLI Finance Limited 30 September 2013 \n \n\nTHE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nNeither this Announcement nor any part of it constitutes an offer or invitation to underwrite, an offer to sell or issue or the solicitation of an offer to buy, subscribe or acquire any new ordinary shares in any jurisdiction in which any such offer or solicitation would be unlawful and the information contained herein is not for publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Japan, South Africa or any jurisdiction in which such publication or distribution would be unlawful. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 (as amended), under the securities legislation of any state of the United States or under the applicable securities laws of Australia, Canada, Japan or South Africa.\n \n \n \n30 September 2013\n \nGLI Finance Limited\n \n(\"GLI Finance\" or the \"Company\")\n \nConditional placing of new ordinary shares via an accelerated bookbuild process\nat a minimum price of 51 pence per share\n \n \n \nGLI Finance, a provider of loans to US and UK based SMEs, is pleased to announce a conditional placing of new ordinary shares (\"Placing Shares\") to institutional investors (the \"Placing\") via an accelerated bookbuild process at a minimum price of 51 pence per share. The Placing will comprise a minimum of 7.0 million shares and a maximum of 13.0 million shares representing, respectively, 5.3 per cent. and 9.9 per cent. of the Company's existing issued share capital. Completion of the conditional placing will be subject to shareholder approval of a special resolution (\"Resolution 1\") to disapply pre-emption rights in respect of the Placing Shares and, if necessary, approval of an ordinary resolution (\"Resolution 2\") to approve the Placing Price.\n \nRationale for the Placing\n \nThe net proceeds of the Placing will be used to fund an...