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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| P2p Global Investments Plc | LSE:P2P | London | Ordinary Share | GB00BLP57Y95 | ORD GBP0.01 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 826.00 | 822.00 | 826.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMP2P
RNS Number : 3561W
P2P Global Investments PLC
13 November 2017
LEI Number: 213800P4S1KTTPIB9T76
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
P2P Global Investments plc (the "Company")
Reduction in US consumer loan exposure
The Board of P2PGI is pleased to announce that the Company has entered into an agreement to sell a significant proportion of its exposure to US consumer loans. The transaction represents a reduction of GBP36.9 million net exposure (4.56% of the Company's NAV as at 30 September 2017) and GBP167.1 million gross exposure. The transaction and related provisions are expected to reduce the Company's overall NAV by less than 1% and will also have the effect of reducing the Company's leverage and FX hedging requirement.
The Board is pleased to report that the Investment Manager remains confident in its ability to continue the transition of the portfolio into opportunities with a greater exposure to secured assets.
The Company stated in its September newsletter that the Investment Manager intended to announce a more detailed strategy update to the market in November 2017; this transaction represents an important component of that strategy. The Investment Manager now expects to present its more detailed strategy update to the market towards the end of November to coincide with the release of the October NAV announcement. The October NAV announcement will reflect this transaction and is expected to be released before 30th November.
The Investment Manager has reported to the Board an increased confidence that the realigned portfolio will achieve its target returns of 6 - 8 per cent within the 18-month timeframe set in the Board's announcement of 24 May 2017.
Contact information
Investment Manager:
Lindsey McMurray +44 (0) 203 728 6746
Simon Champ +44 (0) 207 316 2280
Media Enquiries: Boscobel & Partners +44 (0) 203 642 1310
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
November 13, 2017 10:33 ET (15:33 GMT)
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