Business
Placing
Placing.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n \nRNS Number : 1415W Greenwich Loan Income Fund Ltd 23 January 2013 \n \n\nTHIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES IN THE UNITED STATES, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL\n \n23 January 2013\n \nGreenwich Loan Income Fund Limited\n(\"Greenwich Loan Income Fund\" or the \"Company\")\n \nPlacing to raise £6.0 million\n \n \nGreenwich Loan Income Fund Limited, a provider of loans to US and UK based SME's, is pleased to announce a placing of 11,917,000 new ordinary shares (\"New Ordinary Shares\") at a price of 50 pence per share (the \"Placing Price\") to raise gross proceeds of £6.0 million (the \"Placing\"). \n \nThe Placing comprises 11,917,000 shares placed with new and existing institutional investors (the \"Placing Shares\"). The Placing was arranged by Panmure Gordon (UK) Limited. The Placing Shares represent 10.0 per cent. of the Company's issued ordinary share capital.\n \nThe net proceeds, together with other capital available for investment, are currently expected to be used to fund the equity element of future funding vehicles in the Company's US business. The Company continues to see excellent primary and secondary opportunities in the US market for senior secured loans. Further announcements will be made in due course as appropriate.\n \nThe Placing Shares will rank pari passu in all respects with the Company's existing ordinary shares. The Placing is conditional on the admission of the New Ordinary Shares to trading on AIM and the Channel Islands Stock Exchange (\"CISX\"). Application has been made to the London Stock Exchange and CISX for the New Ordinary Shares to be admitted to trading (\"Admission\"). It is expected that Admission will become effective and that dealings will commence at 8.00 a.m. on 28 January 2013. \n \nThe Company is also pleased to announce the appointment of Panmure Gordon (UK) Limited as joint broker with immediate effect.\n \nFor more information please contact:\n \n\n\n\n\nGreenwich Loan Income Fund Limited\n\n\n\n\n\n\n\nGeoffrey Miller\n\n\n+4...