Gli Finance Share Discussion Threads

[peterbill] 13/8/2020 10:43

Could not get an online quote for these ...

[makinbuks] 01/7/2020 12:10

I agree with posters (and have said for some time) that the goodwill and Fintech investments are worthless. However, I don't agree that the company is insolvent. Clearly it has an issue repaying its ZDP's but it has an agreement for the moment with them and they are supporting the business in the hope of making a full recovery so on it goes. No reason to see why that would not be extended again in December. Sancus meanwhile is a good business albeit no doubt affected by COVID like everyone else.

[yieldsearch] 15/6/2020 15:34

distressed level pricing on GLIZ, implying either it will go pop or they will re/re/restructure it again.
If GLIZ is trading at distress level, clearly glif shareshould be down to zero

Owned glif long time ago when it was just the equity piece of a clo. The "strategic" investment in multitude of platform basically destroyed shareholder value. Sancus involvement probably delayed the inevitable.

[bluemango] 30/4/2020 17:21

"Supposed to repay on the 5th Dec 20201"

Gosh, that's really what you call long term debt.

Edit: thanks Yieldsearch.

[yieldsearch] 30/4/2020 16:10

GLIZ trading at 107. Supposed to repay on the 5th Dec 2020 at 141.152. hmm...

typo corrected!!

[peanut100] 07/4/2020 07:16

Shocking set of results - board need to be removed or the co will be bust in months

[makinbuks] 18/2/2020 17:46

Jerseymike, Are you sure they could afford to repay the ZDPs? Tender offer for 25% leaves , what £13m worth? That's one year of Sancus Revenue. They made a loss last year with the extent of the write down of the Platforms to be decided.I don't know why these bounced in value back at the end of the year

[peterbill] 18/11/2019 08:40

Further to the Company's announcement of 21 October 2019 regarding the Proposals for the continuation of the ZDP Shares, the Company announces that all resolutions proposed at the class meeting of Ordinary Shareholders, the class meeting of ZDP Shareholders and the extraordinary general meeting held earlier today were duly passed.

The extension of the life of the ZDP Shares from 5 December 2019 to 5 December 2020 takes immediate effect. The increased rate of return on the ZDP Shares, from 5.5% to 8% on the issue price of the ZDP Shares, will take effect from 6 December 2019 in accordance with the New Articles. The final capital entitlement to which ZDP Shareholders will be entitled at the extended repayment date is therefore increased from 130.696 pence per ZDP Share to 141.152 pence per ZDP Share.

Capitalised terms used and not defined in this announcement have the meanings given in the Company's announcement of 21 October 2019.

[irenekent] 14/11/2019 16:25

There's life in the old dog yet! What's happening?

[jerseymike] 21/10/2019 12:51

They could afford to pay the ZDPs put it does the balance sheet no good. Sancus is doing really well and once the historic crud is dealt with, this will reverse. My concern would be a reverse takeover once the ZDPs are repaid. Not good now but real hope fo the future.

[baner] 21/10/2019 09:21

ZDP holders have no option but to accept prolongation. alternative is a steep haircut if GLI turns a forced seller of its assets. the fintech assets are probably worth 0-ish in such a scenario and there could well be significant loan losses in the portfolio too. however, given some time, they may be able to work the assets out less brutally and survive with the lending business intact. very high risk in this stock - however you could see them double in 18-24 months. not much to lose - maybe worth a punt?

[makinbuks] 09/10/2019 17:59

If you want an insight into what is going on with these "platforms" read the latest factsheet release yesterday on SSIF

[makinbuks] 19/9/2019 14:19

To be fair he wasn't the architect of what has happened

[peanut100] 18/9/2019 13:46

Shocking business - Andrew whelan taking home circa £750k pa on a loss making firm. He should pay that all back and the previous years to pay down the ZDP. PT 0p

[makinbuks] 18/9/2019 12:52

Still a lot to sort out. Not convinced there's any significant value in the Fintech business and their investment in it has basically bankrupt the company. To refinance the zero's at 7% will be costly and that facility needs to be repaid it 2021. While Sancus is a nice business, there is still a long way to go her

[my retirement fund] 18/9/2019 10:22

Odd the zeros haven't cratered as even though theres far less left now they still won't have the money to redeem them on time whilst being solvent.

[yieldsearch] 18/9/2019 09:03

Getting there!

[peanut100] 04/8/2019 07:00

Target price 0phttps://www.thetimes.co.uk/article/tech-pioneer-gli-finance-tries-to-ditch-p2p-lending-0768wt6jp

[cerrito] 30/5/2019 11:09

Did what I should have done a long time ago and sold my last bit; having joined in January 2010 this was for many years one of my very best holdings but tarnished by my tardiness in selling.
One reason I did hold on was that they were my only exposure to fin tech; they do no IR and I will leave management to enjoy their comfortable lifestyle