Sancus Lending Group Limited NPV (LEND)

Sector:

Investment Firms

0.54p
   
  • Change Today:
    -0.085p
  • 52 Week High: 0.85p
  • 52 Week Low: 0.18p
  • Currency: UK Pounds
  • Shares Issued: 6.27m
  • Volume: 111,720
  • Market Cap: £0.03m

GLI investee selling loan assets

By Josh White

Date: Tuesday 03 Jul 2018

LONDON (ShareCast) - (Sharecast News) - Alternative finance sector investor GLI Finance announced on Tuesday that BMS Finance Ireland - a company in which GLI holds a 30.3% interest - has entered into an agreement with BPC Ireland Lending Designated Activity Company (BPC), a fund managed by Beach Point Capital Ireland, to sell the entirety of its loan assets at book value.
The London-listed firm said that, following the sale of the loan assets, BMS Ireland would be wound up with cash distributed to investors.

For the year ended 31 December, BMS Ireland had gross assets of €25.4m.

Pursuant to the transaction, GLI said it was expecting to receive a cash consideration of around £7m, which would include £0.28m payable to BMS Finance AB - a wholly owned subsidiary of GLI, which would cease to be the investment adviser to BMS Ireland upon completion of the transaction.

The transaction remained subject to, among other things, shareholder approval of BMS Ireland, and was expected to close on or before 1 August.

"The net proceeds of the transaction will be redeployed for general investment purposes including the launch of Sancus BMS' property backed lending business in Ireland which is due to commence activities in August 2018," GLI's board said in its statement.

"The company believes that this business should generate a higher return on capital compared to the historic working capital lending business."

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

LEND Market Data

Currency UK Pounds
Share Price 0.54p
Change Today -0.085p
% Change -13.60 %
52 Week High 0.85p
52 Week Low 0.18p
Volume 111,720
Shares Issued 6.27m
Market Cap £0.03m

LEND Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
21% below the market average21% below the market average21% below the market average21% below the market average21% below the market average
13.42% above the sector average13.42% above the sector average13.42% above the sector average13.42% above the sector average13.42% above the sector average
Price Trend
79.39% below the market average79.39% below the market average79.39% below the market average79.39% below the market average79.39% below the market average
96.32% below the sector average96.32% below the sector average96.32% below the sector average96.32% below the sector average96.32% below the sector average
Income Not Available
Growth
6.32% above the market average6.32% above the market average6.32% above the market average6.32% above the market average6.32% above the market average
10.03% above the sector average10.03% above the sector average10.03% above the sector average10.03% above the sector average10.03% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

LEND Dividends

  Latest Previous
  4th Interim 3rd Interim
Ex-Div 02-Mar-17 27-Oct-16
Paid 21-Apr-17 15-Dec-16
Amount 0.62p 0.62p

Trades for 12-Jul-2024

Time Volume / Share Price
16:40 26,992 @ 0.54p
16:40 3,391 @ 0.54p
16:40 5,271 @ 0.54p
16:40 10,274 @ 0.54p
16:40 8,056 @ 0.54p

Top of Page