GLI Finance has conducted a series of transactions with The SME Loan Fund.
The transactions will see GLI dispose a number of assets to SMEF including existing holdings in the loan note of a pharmaceutical company, a solar energy construction loan and stakes in two BMS Finance structures.
As part of the deal, GLI will acquire from SMEF $800,000 of senior preferred stock in the share capital of The Credit Junction.
The net effect of the transactions is a cash transfer to GLI Finance of £1,553,745.13, which will be used for general corporate purposes. This is in accordance with GLI's stated strategy of lending "to" the platforms and not "through" the platforms and this transaction assists in removing the few remaining loans that we have on our balance sheet lent 'through' the platforms.
At 9:07am: (LON:GLIF) GLI Finance Ltd share price was +0.01p at 24.38p