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Share Name Share Symbol Market Type Share ISIN Share Description
Gli Finance LSE:GLIF London Ordinary Share GB00B0CL3P62 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.125p -1.64% 7.475p 7.20p 7.75p 7.725p 7.475p 7.60p 164,642 15:29:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 11.6 -15.2 -5.0 - 23.10

Gli Finance Share Discussion Threads

Showing 2576 to 2598 of 2600 messages
Chat Pages: 104  103  102  101  100  99  98  97  96  95  94  93  Older
Gary - good luck with all your investments. I am sticking with RAVP because of the tax advantages of their scrip dividends.
Kenny,Thanks again for advising me to sell out of GLIF at 15p.Should have sold sooner in the 20,s.Also sold out of RAVP at 147p,for better growth stocks eg PSN,now yielding 10%.
Read post 652 above and make your own judgement.
Is the provisioning on their lending book "admirable" or optimistic?
Liberum Capital Buy 8.50 16.30 17.20 Upgrades
Interim results for the six months to 30 June 2018 HIGHLIGHTS Group Highlights · Group revenue increased by 26% to £7.2m (June 2017: £5.7m). · Significant improvement in net operating profit to £1.1m (2017: loss of £0.5m) driven by strong revenue growth and continuing cost discipline. · FinTech Ventures portfolio valued at £23.9m, (Dec 2017: £29.6m) following revaluation. · Group Net Asset Value ("NAV") is £64.1m (Dec 2017: £74.8m). · In accordance with the Group's stated policy of paying dividends out of net cash generation, no dividend will be declared for the period. The Group remains committed to recommence dividends as soon as practical. · Post period end, £7m of cash received from the sale of BMS Irish assets which can be deployed within the Group and be used to acquire more ZDPs. Sancus BMS Highlights · Strong performance by the Sancus businesses. · Revenue growth of 42%, excluding The SQN Secured Income Fund ("SSIF") dividends. · Net operating profit up 193% to £1.9m (June 2017: £0.7m). · 12% growth in managed loan book to £246m with actual loss rate of under 0.5% reflecting strong underwriting controls. · The special purpose lending vehicle established in January 2018 with a £50m lending capacity, backed by a £45m credit facility with Honeycomb Investment Trust plc ("HIT") is proving a success. £22.9m had been drawn as at 30 June 2018. · Improved performance by Sancus Finance and Sancus Funding (together to be referred to as "Sancus UK") with operating loss reduced by £0.3m to £0.5m. Sancus Finance performance was behind forecasts for the first half of the year but targeted break-even by the end of 2018. The regulated business will commence property backed lending before the end of the year. · With Sancus Finance having performed below target for the period and being integrated with Sancus Funding into one Sancus UK business, goodwill of £2.1m relating to Sancus Finance has been written off. FinTech Ventures Highlights · The carrying value of FinTech Ventures portfolio is £23.9m (£29.6m at 31 December 2017). · NAV per share for FinTech Ventures portfolio 8.6 pence (31 December 2017:10.0 pence). · The write down in the period of £8.3m includes a £4.1m write down in one of our prioritised platforms. The platform is close to finalising a significant investment from third parties which will result in a painful dilution of our holding. Whilst clearly disappointing to take a large write down, this new investment will help to ensure and accelerate the long-term prospects of the platform. · 29% increase in loan origination across the portfolio companies compared to prior year. · Three platforms have successfully raised new equity from third parties during the period. Several of the others are looking to raise equity over the next twelve months and we have conservatively approached the valuation of those platforms with this in mind. · Further investment of £2.2m made in four platform companies during the period, primarily in the form of convertible loan notes. Andy Whelan, Chief Executive Officer commented: "The Group has seen good progress during the first half of 2018, improving revenue, successfully securing a new funding line and reducing costs across the business. We are pleased that Sancus BMS, the key operating unit within the Group, has delivered some strong results during the six-month period. The lending businesses that comprise Sancus BMS are strong, well managed, and have the ability to deliver a very attractive return on capital. We were delighted to have secured the £45m credit facility from HIT announced in January 2018 and this has helped us significantly grow the loan book. The new management team in the UK is making excellent progress in integrating the businesses, and delivering synergies. Whilst Sancus Finance's loan book has grown materially since last year, it has fallen short of where we had hoped it would be at this time. We are very disappointed to have had to take a further material write down on the FinTech Ventures portfolio. Whilst FinTech as a sector continues to grow strongly, increased competition is making it increasingly difficult for smaller players, particularly those that are loss making, to raise further equity. Given the plethora of investment opportunities, investors are often able to negotiate favourable terms. With competing demands for our capital, we often haven't been able to follow our money, and this has resulted in situations where we have been significantly diluted. Several of our platforms are looking to raise equity over the next twelve months, and given our conservative approach to valuations, we believe there is upside potential if these raises are successful." This announcement contains inside information for the purposes of EU Regulation 596/2014.
Cerrito, You will have seen that Augmentum have also been pretty active of late. The problem with the previous CEO’s strategy was that much of what was acquired - both debt and equity positions - proved to be overpriced rubbish or totally worthless and so there was massive damage to the balance sheet, coupled with completely misleading NAV statements, particularly in late 2015, which was an awful period for the company. As to information now and treatment of retail investors, I have always found the company very helpful, but there is a lot to digest as the lending business expands whilst they try extract some value from the various equity positions, which are housed separately. You might try the Sancus Finance website for some further information. Ditto the Liberum broker notes which I guess will be updated after the interims are out. I think the vast majority of PIs have probably exited stage left and so the main focus is likely to be on the institutions, family offices and the like. It explains why this board is extremely quiet of late.
For my sins I have a few of these left over from the glory CLO days. Reading about Funding Circle and other Fintech developments shows that Mr Miller's instincts were right however optimistic was his execution; it seems I was wrong not to sell out of these earlier. For someone like me we are in a place where they see no need to go after retail investors so there is little PR and they are happy to remain in their comfort zone- though that said I am happier now than in the past with their financial disclosure. Need to read the Interims and see what I should do.
Similar pattern to June announcement, now Antler Investments (registered in British Virgin islands) takes 5% stake.
Jesey registered I see. No surprise
Any idea who they are or why?
DBH Global Holdings declare a 5% shareholding, 15,603,285 shares.
RNS Number : 8975K GLI Finance Limited 13 April 2018 13 April 2018 GLI Finance Limited ("the Company") Annual Report and Accounts for the year ended 31 December 2017 & Notice of Annual General Meeting GLI Finance Limited, a leading investor in the alternative finance sector, announces that the Annual Report and Accounts for the year ended 31 December 2017, together with the notice of annual general meeting ("AGM"), have today been sent to shareholders. The AGM will be held at Sarnia House, Le Truchot, St Peter Port, Guernsey, GY1 1GR on 11 May 2018 at 10:30a.m. Copies of the Notice of AGM and the Annual Report are available from the Company on request, or on its website
Yes finally emerging with what looks like a decent, expanding Sancus business may be the end game here
Well they are delaying as Kenny just pointed out the Fintech investments problem. I think if you read between the lines they have simply stalled doing the inevitable and writing it off. However you can see they will have to declare the loss correctly and I think this set of results is all about preparing the ground for that eventuality.
my retirement fund
Interesting that they have stopped giving NAV in their results. I would compute “real” NAV at about 6.5p currently, as follows: NAV per balance sheet £74.8m Less: Goodwill -£25m Fintech investments -£29.5m “Real” NAV £20.3m Divided by 312m shares = 6.506p For a loss making company, the goodwill should be written down to nil unless the loss is temporary. The Fintech investments are loss making and, in my opinion, not worth anything. If banks are having difficulty in making profits because interest rate margins are too tight, what chance the Fintech companies with their expensive borrowings. My current “real” NAV of 6.5p will, I believe, come to fruition in coming years because as those Fintech companies close, because they run out of money to finance their losses, GLIF will be forced to write down the investments and any related goodwill. With no dividend, continuing losses and continuing reduction in NAV, I cannot see that GLIF has any attractions as an investment – even if the share price eventually moves down to 6.5p. All in my opinion so DYOR.
Please point to where it says more write offs ahead? Does not mention it at all.
Results out. Looks like more writedowns ahead
my retirement fund
Latest SSIF half year report trumpets the move away from these platforms and Amberton will lose joint manager status in the coming months. The platforms need more volume to achieve critical mass not investors pulling out in a flight to quality
The issue is surely all the stupid platforms rather than the Sancus business?
It's a flawed business model cost of capital way to high , requires a perfect lending book with no defaults ,unsustainable given their track record
Presumably because it is similar to the other loans whereby GLiF take a first loss position in return for significant cut, with the balance of the return from loan portfolio flowing through to the lender?
As ever :- Liberum Capital Hold 11.50 16.50 16.50 Reiterates
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