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GLI Finance(GLIF) Fundamentals

The Investor Betting Big on Alternative Finance

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.

more....

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

NAV and operational update; exploring the launch of a closed end fund

GLI Finance Limited ("GLI" 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 31 December 2014 and provide an update on operations.

Net Asset Value

The Company's unaudited NAV per share as at 31 December 2014 was 51.00p, an increase of 5.5% from the unaudited NAV per share of 48.32p as at 30 September 2014. The increase was driven by an uplift in the valuation of the Company's shareholdings in its platforms.

Further investments in platforms and transition to trading company

During the final quarter of 2014, GLI completed two investments in platforms and a significant acquisition, as part of its strategy of becoming a global provider of SME finance and, ultimately, its transition to a trading company. These were:

· October 2014 - UK Bond Network, the UK's first peer to peer bond platform;
· November 2014 - Ovamba, the Africa focused alternative finance platform; and
· December 2014 - Sancus, an offshore secured lending business focused on Channel Islands-based entrepreneurs, SMEs, high net worth individuals and professionals

In particular, the acquisition of Sancus now provides GLI with an in-house underwriting and origination capability and the further investments provide further lending diversity by duration, geography and asset type.

The Company has established a highly experienced management team, with a further executive appointment during the final quarter, Andrew Whelan joining the Board as GLI's Director of Lending. All critical functions have now been internalised.

The Company has also applied to the Guernsey Financial Services Commission to change its status from Closed-end Fund to Non-regulated Financial Services Business.

Exploring the launch of a closed end fund

In the light of recent developments in the marketplace, the Board is also exploring the possible flotation of an independent investment company (the "Fund"), which would be managed by GLI and invest in a diversified portfolio of loans originated principally by the Company's family of lending businesses. The Fund's aim would be to provide investors with access to the fast expanding alternative finance market, leveraging GLI's unique position in terms of its experience, knowledge and day to day involvement in the alternative finance sector. The Fund would target a high single digit yield for investors, whilst providing GLI with further scaleable origination capability.


N+1 Singer Advisory LLP has been appointed to assist the Fund with this process.


.-Ends-

I"m in. Possible company separation looks good. Easy company to understand,P2P lending fully insured. 5p dividend (1.25p paid QUARTERLY] . Good chart. Share price62p nav 51p. All very positive.

Proposed Placing

Highlights

· Placing of up to 34,500,000 Placing Shares at 58 pence per Placing Share. The Placing is being conducted through an accelerated bookbuild managed by Panmure Gordon (UK) Limited.

· Placing Price of 58 pence per share represents a discount of 7.4 per cent. to the closing mid-market price on 20 February 2015 (being the latest practicable date prior to the date of this Announcement) and a premium of 13.7 per cent. to the Company's unaudited NAV per Share as at 31 December 2014.

· Proceeds of the Placing will be used to provide additional development capital for the Group's platform investments and enable expansion of the lending activities of GLI's family of platform businesses.

The Placing is conditional, inter alia, on approval by Shareholders at an Extraordinary General Meeting to be held on or around 16 March 2015 and on the Admission of the Placing Shares to trading on AIM.

more..

Looks like a done deal at 58p. Onwards and upwards.

This maybe of interest - IPO to target 8% dividend yield

Publication of shareholder circular and Notice of Extraordinary General Meeting

Disposal of FOIF holding

GLI Finance Limited, a leading provider of finance to small and medium sized enterprises in the UK, US and Europe, announces that on 4 March 2015 it sold its entire holding of 34,298,425 ordinary shares in Fair Oaks Income Fund Limited at a price of $0.9425 per share, raising gross proceeds of approximately $32.3 million.

Panmure Gordon Buy 62.25 72.00 72.00 Retains

Very cash positive with the placing and this sale. The company must have something in mind? The next announcements will be interesting.

Small investment in solar platform. Foothold in U.S.

Budget 2015: Will tax-free peer-to-peer lending get the go-ahead?