Sancus Lending Group Limited NPV (LEND)

Sector:

Investment Firms

0.53p
   
  • Change Today:
      0.007p
  • 52 Week High: 0.85
  • 52 Week Low: 0.18
  • Currency: UK Pounds
  • Shares Issued: 6.27m
  • Volume: 10,000
  • Market Cap: £0.03m

GLI Finance announces tender offer for ZDP shares

By Josh White

Date: Tuesday 18 Feb 2020

LONDON (ShareCast) - (Sharecast News) - GLI Finance said on Tuesday that, as part of the zero-dividend preference (ZDP) share continuation proposals approved by shareholders in November, it intended to make a cash tender offer for a proportion of its redeemable ZDP shares.
The London-listed firm proposed to implement the tender offer for up to 25 per cent of the issued ZDP shares, excluding ZDP shares held in treasury.

It said the making of the tender offer required the approval of ordinary shareholders at an extraordinary general meeting, to be held at its registered office in Guernsey on 6 March.

"Since the extension of the life of the company's ZDP Shares to 5 December 2020, the company has continued its process of selling down its loan exposure to raise cash, with the intention of using this cash to fund and develop the group's business in the interests of shareholders as a whole but also, in the shorter term, to effect the tender offer of ZDP shares and to satisfy the final capital entitlement of the ZDP shareholders," the board explained in its statement.

It said the offer was being made at a price of 133.3p per ZDP share, which was equal to the accrued capital entitlement per ZDP share as at 6 March - the expected date of completion.

The aggregate tender price, assuming that the full entitlement of ZDP shares is tendered, would be around ?4.08m.

"The tender offer is being made for the benefit of both ordinary shareholders, who will benefit from the reduced overall capital entitlement of the ZDP shares as a result of repurchasing 25% of the ZDP shares sooner than their maturity date, and ZDP shareholders, who may elect to realise some of their investment at this time if they wish to do so."

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LEND Market Data

Currency UK Pounds
Share Price 0.53p
Change Today 0.007p
% Change -1.23 %
52 Week High 0.85
52 Week Low 0.18
Volume 10,000
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 15-Jul-2024

Time Volume / Share Price
11:00 10,000 @ 0.50p
11:00 1,944 @ 0.50p
11:00 8,056 @ 0.50p

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