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GLI Finance(GLIF) Fundamentals

The Investor Betting Big on Alternative Finance

Another 'Buy' recommendation from IC's Simon Thompson today as well. Total reaction was a solitary tick-up. Bah!

GLI Finance Limited (the "Company"), a leading provider of finance to small and medium sized enterprises in the UK, US and Europe, expects to announce its Interim Results for the 6 months ended 30 June 2014 on Tuesday 23 September, 2014.

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Penned by GLIF CEO, Geoff Miller.

The future: An alternative option for cashflow management

Emma Stubbs appointment

Directorate Change

The Company is pleased to announce the appointment of Mrs. Emma Stubbs (née Le Page) to its board as an executive director with immediate effect.

Prior to joining GLIF as Chief Financial Officer in November 2013, Mrs Stubbs, aged 34, spent six years with Sportingbet in a number of roles and latterly as Head of Business Analysis and Projects, where her responsibilities included formulating the company's strategy across Europe and Emerging Markets. Emma also spent two years working in the captive insurance sector with Marsh Management Services after qualifying as a Chartered Certified Accountant with Deloitte & Touche in 2004.

Patrick Firth, Non-executive Chairman of GLIF said: "We are glad to welcome Emma to the board. Since joining the Company in 2013, Emma has served as an invaluable member of the executive team and we look forward to working with her as we grow the Company as a leading provider of SME finance both in the UK and abroad."

Mrs Stubbs holds, or has held the following directorships within the five years prior to the date of this announcement:

Current directorships

Secured Loan Investments Limited
Finpoint Limited
NVF Patents Limited
NVF Equity Limited

Half Yearly Report

Financial Highlights

· Stable capital performance during the period with NAV per share of 48.53p as at 30 June 2014 (31 December 2013: 49.99p).

· ROE of 12.26% (annualised in in local currency terms), in the middle of the GLI Finance ("GLIF") 10-15% target range.

· The volume of loans originated through GLIF's platforms increased by 48% to GBP41.0m, of which the amount GLIF invested through the platforms increased by 60% to GBP8.5m.

· 2.5p dividend paid (2.5p paid for the comparable period last year)


Operational and investment highlights

· In the period GLIF made five new investments in SME finance companies, in accordance with its stated strategy. These were:

- Finpoint UK, a UK lender to SMEs
- TradeRiver Finance, a global online trade finance company
- European Receivables Exchange, a Danish invoice financing company
- CrowdShed, a multi asset and multi jurisdiction crowd funding company
- Proplend, a UK property backed lending company

· A further three investments have been made since 30 June 2014, which were:

- Finexkap, a French, web-based platform providing a working capital financing
- LiftForward, a P2P and marketplace financing platform provider
- The Credit Junction, a marketplace working capital and supply chain financing platform

· CFO Emma Stubbs was appointed to the Board on 16 September 2014.

· Marc Krombach will join as Managing Director in October 2014 to support Geoff Miller in growing the platforms.

Geoff Miller, CEO said: "There continue to be issues with the provision of SME finance globally. The banks continue to be risk averse but many have also adopted a purely quantitative approach to lending that makes many businesses unbankable, despite their huge growth potential. At the same time, many new alternative finance platforms are looking more towards institutional capital to fund their lending to these businesses, rather than a broader based P2P model, so the outlook for GLIF is very positive.

GLI Finance is soon to have a unique range of 16 SME finance platforms that span asset class and geography. We are now entering a phase of scaling these platforms significantly so that they can lend to a greater number of businesses and help GLIF deliver exciting returns for its shareholders."

Panmure Gordon Buy 56.50 72.00 72.00 Reiterates

Dividend Declaration

GLI Finance Limited announces partnership with UK Bond Network

GLI Finance Limited ("GLI Finance"), a leading investor in the alternative finance sector, announces that it has agreed to invest £1 million in UK Bond Network, the UK's first peer to peer bond platform, in return for a 16.6% equity stake in the business.

UK Bond Network gives listed and unlisted businesses the opportunity to create a bespoke financing structure with terms that suit them, in the form of loans or bonds from £500,000 to £4 million. The platform bridges the gap in the market between the small alternative finance providers (private debt funds) and the retail bond market, which is typically not a viable option for businesses seeking less than £20 million.

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Net Asset Value(s)

NAV and trading update for the quarter ended 30 September 2014

GLI Finance Limited ("GLI Finance" or the "Company"), a leading provider of finance to small and medium sized enterprises in the UK, US and Europe, is pleased to announce its net asset value ("NAV") as at 30 September 2014.

The Company's unaudited NAV per share as at 30 September 2014 was 48.32p, which compares with an audited NAV per share of 48.53p as at 30 June 2014.

During the period, GLI Finance completed investments in three platforms, as announced in the Company's recent interim results. They were:

· July 2014 - Finexkap
· August 2014 - LiftForward
· September 2014 - The Credit Junction


During the period, GLI Finance also agreed a loan facility to borrow up to £30 million with Sancus Limited, a peer to peer lender in which the Company holds 8.4% of the issued ordinary shares. The total value of loans held by GLI Finance, originated through the Company's partnerships with its platforms, totalled £27.3m as at 30 September 2014 (30 June 2014: £23.9m).

-Ends-

Henderson Global < 5%

GLI Finance Limited investment Finexkap

Taking a look at this company. A new concept in finance. financial loan and investment platforms on the net for companies and individuals. Would appreciate any thoughts or input about this company.

A reasonable start are the bottom two links in the header.

GLI Finance invests $1.28 million in Africa focused peer-to-business lending platform Ovamba

GLIF ticking up regularly as P2P lending becomes more mainstream. Early mover advantage for GLIF in what is rapidly becoming a sexy sector. 2015 could be very good indeed.

Acquisition and Related Party Transaction

Proposed acquisition of Sancus Limited and Sancus (Guernsey) Limited, proposed adoption of new Articles of Incorporation, Notice of Extraordinary General Meeting and Related Party Transaction

GLI Finance Limited ("GLI Finance" and the "Company") announces on 14 November 2014, it entered into a conditional sale and purchase agreement with Sancus Holdings Limited ("SHL") (the "SPA"), under which the Company has conditionally agreed to acquire the respective entire issued share capitals of Sancus Limited ("SL") and Sancus (Guernsey) Limited ("SGL") from SHL and the intragroup loans (the "Intragroup Loans") made by SHL to SL (the "Acquisition") for a total consideration of £37.75 million.

The payment of the consideration relating to the Acquisition would involve the Company issuing to SHL new Ordinary Shares (the "New Ordinary Shares") and new redeemable zero dividend preference shares in the Company (the "ZDP Shares"). Therefore, in connection with the Acquisition, the Board is seeking the approval of Shareholders for the New Articles to be adopted in order to reflect the creation of such a new class of ZDP Shares and to provide for the rights attached to the ZDP Shares (altogether, the "Proposals"). The Board believes that the ZDP Shares will diversify the funding of the Company's capital structure and better align the structure with the Board's expectation of the future returns from the Company's business. The issue of ZDP Shares is also expected to reduce the Company's overall cost of capital.

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Not 'that Whelan'!

Completion of Acquisition, Issue of Equity and Directorate Change

The board of GLI Finance is pleased to announce that the Company's acquisition of the respective entire issued share capitals of Sancus Limited ("SL") and Sancus (Guernsey) Limited from Sancus Holdings Limited ("SHL") legally completed on 16 December 2014.

Issue of equity

The Company issued, at completion, 31,415,930 ordinary shares of no par value in the capital of the Company ("Ordinary Shares") and 20,000,000 ZDP Shares of £1 each to SHL in consideration for the Acquisition. As previously notified, the new Ordinary Shares issued to SHL rank pari passu in all respects with the existing Ordinary Shares other than that they will not be entitled to any dividend payable on the Ordinary Shares in respect of the period ending 31 December 2014. The new Ordinary Shares are expected to be admitted to trading on the AIM market of the London Stock Exchange on or around 18 December 2014 under the ISIN GG00BTJRMC06 and TIDM GLIR.L.

SHL will, on Admission, hold a legal and beneficial interest in 31,415,930 Ordinary Shares, representing 18.2% of the Company's enlarged issued share capital. SHL's holding of new Ordinary Shares is subject to a lock-in deed between the Company, SHL and Panmure Gordon. Except in certain limited circumstances, SHL will, under its lock-in deed, not dispose of the new Ordinary Shares during the period commencing as of today's date and expiring on the later of either: (a) 16 June 2015; or (b) the earlier of (i) the date on which an unqualified audit opinion on SL is given by the auditor of SL in its audit report on SL for the period ending 31 December 2014 or (ii) 16 December 2015 ("the Cover Period"). The Cover Period shall also be extended where a warranty claim has been notified by the Company to SHL during the Cover Period but where the claim has not yet been settled, withdrawn or finally judicially determined by a court of competent jurisdiction. Following the end of the Cover Period, there will be an orderly marketing period of six months, during which time SHL can only effect a disposal of the new Ordinary Shares through Panmure Gordon.

Directorate change

Andrew ("Andy") Noel Whelan, SHL's Chief Executive Officer, was appointed to the Board, upon completion of the Acquisition, as the Group's Director of Lending. Mr Whelan (age 48) has over 25 years of experience of the financial services industry. He started his career with Morgan Grenfell in 1987 and also worked for Kleinwort Benson within the Dresdner Private Banking Group. He joined Liberty Ermitage in 2001, where he became Group Executive Director and Managing Director of Ermitage Global Wealth Management Jersey Limited. Mr Whelan was a founding partner of Ermitage Group in 2006 following a management buy-out of the business from Liberty Life. Mr Whelan left Ermitage Group in 2011 following its sale to Nexar Capital Group. Between April 2012 and August 2013, Mr Whelan worked for International Asset Monitor as Managing Director of its newly established Jersey office, before founding SHL on 1 September 2013 and becoming its Chief Executive Officer.

Mr Whelan is a Fellow of the Chartered Institute for Securities & Investment.

Patrick Firth, Non-Executive Chairman of the Company, said: "We look forward to integrating Sancus into our wider business and using the platform to drive growth in our proprietary loan book in existing and new markets for GLI Finance. I would also like to welcome Andy to the Board and I am sure that he will be a major asset to the Group".

A mention in the MOS - The £1bn finance sector that's no longer alternative: Business funding outside the banking system doubling every year

Artemis Investment Management < 11%

A new high @63.125p

2014 Fourth Interim Dividend