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News
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29 Jan 2018 1 min read
Honeycomb provides funding to GLI Finance
Honeycomb provides funding to GLI Finance – The board of GLI Finance has announced that the company has signed a new funding facility with Honeycomb Investment Trust. The funding line has a term of 3 years and comprises a GBP50 million accordion and revolving credit facility, of which GBP20 million will be drawn and deployed […]
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08 Mar 2017 1 min read
SME Loan Fund stock all placed
SME Loan Fund says that demand from investors to participate in the secondary placing of the 25,270,763 shares in SMEF held by GLI Finance Limited has significantly exceeded the number of SMEF shares available and, accordingly, investor participations are being scaled back. The secondary placing will be completed today. GLI Finance has agreed to acquire for cash the loans […]
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21 Feb 2017 4 min read
SQN mooted as manager of revamped SME Loan Fund
The SME Loan Fund is in discussions regarding proposals which it thinks, if implemented, should: address investors’ concerns regarding conflicts of interest between the Company, its current investment manager and its largest shareholder; provide the Company with access to a broader range of investment management skills through the appointment of SQN Capital Management, LLC (“SQN”) […]
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17 Oct 2016 1 min read
SME Loan Fund running at 7.2% yield on issue price
The SME Loan Fund has produced its first set of results, covering the period from launch until 30 June 2016. The Group’s NAV at 30 June 2016 was GBP53.4 million (101.31p per Ordinary Share) compared to GBP51.7 million (98.15p per Ordinary Share) at launch. The total return for the Group for the period was 7.1% on the opening NAV. […]
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31 Aug 2016 5 min read
Acorn’s smaller companies portfolio suffers in the wake of Brexit
Acorn Income Fund has announced its interim results for the six months ended 30 June 2016. During the period, Acorn’s gross assets provided a total return of -8.13%, whilst its NAV total return was -13.95%. Reflecting an increase in the premium to NAV at which the company’s shares traded, the share price total return was […]
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07 Jul 2016 7 min read
Artemis Alpha will cut exposure to unquoteds
Artemis Alpha has published results for the year ended 30 April 2016. The Company’s net asset value per share fell by 6.1 per cent during the year on a total return basis. This compares with a fall of 5.7 per cent in the FTSE All-Share Index over the same period. Although the quoted investments were […]
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29 Mar 2016 2 min read
GLI Finance reports on a year of ‘significant change’
GLI Finance has announced its annual results for the year ended 31 December 2015. The company describes 2015 as “a year of significant change, both in the management of the business and in corporate transactions undertaken.” The company commenced a strategic review in December 2015 and they say that significant progress has already been made […]
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21 Mar 2016 1 min read
GLI investment gets approval from British Business Bank
Funding Options, one of GLI Finance’s investments, has been recommended by the British Business Bank to go forward for designation by HM Treasury for the Bank Referral Scheme. Announced within HM Treasury Budget 2016, businesses that are rejected for finance by high-street banks will be able to access new options, with the Budget announcing that […]
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17 Mar 2016 1 min read
GLI Finance announces a new £15m credit facility and repays the £30m Sancus loan
GLI Finance, headed up by CEO Andy Whelan (pictured), has confirmed that it has now entered entered into a new 1 year loan, for £14.86m, at an interest rate of 8.75%. The company say that it has repaid its existing £30m loan facility with Sancus, which had been incurring an interest rate of 11%. GLI Finance’s Board […]
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16 Feb 2016 9 min read
GLI Finance publishes NAV update
GLI Finance has updated its NAV and given some information on the progress of the review of its business post the departure of its previous chief executive. There’s a lot in the announcement so we reproduce it in full below. “Confirmation of permanent CEO, Strategic Review and NAV Update The Executive team The Board of […]
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08 Feb 2016 1 min read
GLI Finance calls EGM to approve Somerston deal
GLI Finance has announced that, following its previous announcement on 21 December 2015 regarding the development of a strategic relationship with the Somerston Group of companies, that it has agreed binding terms with Golf Investments (a newly formed special purpose vehicle that is part of the Somerston Group). Somerston will be providing finance to GLI […]
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21 Dec 2015 4 min read
GLI Finance cancels ZDP issue and CEO resigns
GLI Finance has announced this morning that, in light of feedback received as part of the marketing of the 2020 ZDP Shares to investors, the board has decided to cancel the Placing and Open Offer of 2020 ZDP Shares. Furthermore, the Board has decided that it will not be progressing with the issue of the […]
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10 Dec 2015 1 min read
GLI Finance will not issue CULS with a conversion price below NAV
GLI Finance Limited announced, on 17 November 2015, plans to consider the issue of further securities in order to refinance certain existing borrowings as well as to provide additional working capital and finance growth. The related prospectus and circular to shareholders were published on 3 December 2015. One option detailed in this Circular is to […]
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04 Dec 2015 3 min read
Small Companies Dividend Trust convincingly beats benchmark in H1
Small Companies Dividend Trust has announced its interim results for the six-months ended 31 October 2015. During the period, the NAV per ordinary share rose 11.6% beating the MSCI Small Cap Index, which fell 2.02%. The ordinary share price increased by 17.1% during the period and the discount narrowed from 16.99% to 12.90%. A second […]
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12 Oct 2015 1 min read
GLI Finance lends £5m to Verus 360
GLI Finance is backing a company, Verus 360, established by Bibby, which offers small and medium sized companies borrowing facilities. The initial focus of Verus360 is to support businesses with annual revenue of between £200,000 and £8 million by offering facilities up to £250,000. GLI Finance is supporting the business with a £5m convertible loan. This has […]
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24 Jul 2015 1 min read
Athelney lags small cap. indices
Athelney Trust’s interim figures show its NAV total return was 6.4% over the six months ended 30 June 2015, behind returns on small cap indices with the FTSE Smaller Companies, Fledgling and Aim All-share being up by 7.1, 15.6 and 8.2 per cent respectively There is much musing on the economy in the report – […]
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05 May 2015 1 min read
GLI Finance invests in Funding Options
GLI Finance is investing £1.25m in ordinary shares and £0.75m in preference shares issued by Funding Options. They’ll get a 28.9% stake in the company. Funding Options uses proprietary online technology to scan the alternative finance market for the most suitable funding options available. Mixing sophisticated matchmaking tools, accessible expert support and practical education materials, […]
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30 Mar 2015 1 min read
GLI raises stake in Trade River Finance
GLI Finance has increased its stake in Trade River Finance from 9% to 43.9% and taken its interest in Trade River’s preference shares up to 100% by offering to swap shares in Trade River for shares and zeros issued by GLI Finance. A number of shareholders took up the offer and 6.2m new GLI shares have […]
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26 Mar 2015 2 min read
GLI Finance reports on transformational year
GLI Finance (where the author is a non-executive director) has announced its results for 2014. Over the year GLI’s net asset value rose from 50p to 51p. Revenues were depressed by the sale of the fund’s CLO portfolio to Fair Oaks Income Fund in the middle of last year (Fair Oaks didn’t pay its first […]
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04 Mar 2015 1 min read
GLI sells Fair Oaks stake
GLI Finance has sold its entire stake in Fair Oaks Income Fund (34,298,425 shares) to a fund advised by Coller Capital. GLI Finance was a founder shareholder in Fair Oaks Income. Its shares were received in exchange for the injection of GLI Finance’s CLO investments into Fair Oaks’ portfolio. With this deal, GLI Finance finally […]
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17 Feb 2015 1 min read
GLI Finance planning fund launch
GLI Finance announced its net asset value as at the end of December 2014 today – 51.0p, up from 48.3p as the valuations of its underlying fund platforms rose. It also announced that it is exploring the launch of a fund, an independent investment company which would be managed by GLI and invest in a […]
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17 Nov 2014 1 min read
GLI buying out rest of Sancus
GLIF : GLI buying out rest of Sancus GLI Finance is to buy out the other shareholders in Sancus in a deal that values Sancus and its portfolio of loans at £37.75m. £17.75m of the purchase price will be paid in 31.4m new shares in GLI Finance worth £17.75m (valuing those shares at 56.5p). GLI will […]
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14 Nov 2014 1 min read
GLI Finance takes stake in Ovamba Solutions
GLIF : GLI Finance takes stake in Ovamba Solutions GLI Finance has announced that it is investing $1.28m to take a 20% stake in Ovamba Solutions, an African peer-to-peer business investment platform. Ovamba is the first peer-to-business lending platform in francophone Africa, and also one of the first market lending platforms to offer investment opportunities […]
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13 Nov 2014 1 min read
GLI says Finexkap secures funding
GLIF : GLI says Finexkap secures funding GLI Finance has announced that its French peer to peer factoring investment, Finexkap, has secured funding of $22.5m ($7.5m in series A equity and $15m to finance lending). Following the transaction GLI has a 26.4% stake in Finexkap. The other external investors in Finexkap now include Finsight, a […]
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13 Oct 2014 1 min read
GLI Finance buys stake in UK Bond Network
GLIF : GLI Finance buys stake in UK Bond Network GLI Finance has announced the acquisition of a 16.6% stake in UK Bond Network (www.ukbondnetwork.com) UK Bond Network is a peer-to-peer bond platform. It provides bespoke finance to companies seeking loans or bond finance in the £500,000 to £4m range. The announcement describes how UK […]
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24 Sep 2014 1 min read
GLI Finance secures £30m borrowing facility
GLIF : GLI Finance secures £30m borrowing facility GLI Finance has announced that it has arranged a borrowing facility with Sancus, one of the platforms it is invested in. Under the terms of the facility it can draw down £10m initially and a further £20m at a later date. The interest rate on the facility […]
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23 Sep 2014 2 min read
GLI Finance portfolio repositioning continues
GLIF : GLI Finance portfolio repositioning continues GLI Finance has announced its interims for the six months ended 30 June 2014. Over that period the net asset value fell from 49.99p to 48.53p – in part because of the strength of Sterling affecting the value of its dollar assets. It made a return on equity […]
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26 Mar 2014 1 min read
GLI Finance : GLIF – final results
GLI Finance has reported an increase in its net asset value from 49.09p to 49.99p per share and paid 5p of dividends over the year, up from 4.7p in the previous year. GLI Finance, led by CEO, Geoff Miller (pictured), made four acquisitions over the year and has made five since, increasing its exposure to the […]
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22 Jan 2014 3 min read
GLI Finance : GLIF – NAV and portfolio update
NB: one important disclosure – James Carthew, the author of this post, is a director of GLIF. GLIF’s Net asset value at the end of December fell to 50p from 51.8p at the end of September 2013 – mainly down to a fall in the value of GLIF’s US$ denominated CLO investments. A number of significant […]
