Vpc Specialty Lending In... Share Discussion Threads

[spectoacc] 24/2/2020 07:33

So effectively VSL's manager has bought the stake? No one knows the business better.

[waterloo01] 24/2/2020 07:32

Certainly seems to be throwing off cash. Wonder if they will raise the divi any higher, especially with the reduction in shares through buy backs.. Already 10%

[cwa1] 24/2/2020 07:31

Excellent, pleased with this outcome:-

Acquisition of Significant Minority Stake by SVS Opportunity Fund, L.P.

24 February 2020

VPC Specialty Lending Investments PLC ("VSL" or "the Company") announces that SVS Opportunity Fund, L.P. ("SVS") has acquired 16.61% of the outstanding share capital in VSL from a major shareholder in the Company. SVS is a newly formed investment vehicle managed by Victory Park Capital Advisors ("the Manager") and backed by a large US insurance company, alongside the Manager and certain of its principals. Pro forma for the contribution of existing shares owned by the Manager and its principals, SVS owns 18.12% of the Company.

Kevin Ingram, Non-Executive Director and Chairman of the Board of VSL, stated; "We are pleased to welcome SVS as a new significant shareholder in VSL. This investment is clear evidence of their confidence in VSL's management, long-term strategy and growth prospects. Building on the performance announced in January 2020, VSL is well-positioned to achieve its near- and medium-term objectives. We look forward to continuing to generate an attractive total return for all shareholders, built on a consistent distributable income and capital growth strategy, through asset-backed lending."

[jt35] 24/2/2020 07:29

Over hang cleared to a related and very friendly purchaser has got to be good for gaining share price traction from here is my thinking.

[11_percent] 24/2/2020 07:15

RNS.

I take this as a vote of confidence and a good thing.

Any comments??

[chucko1] 21/2/2020 18:39

Well, I've been doing my best up to now. I want to leave some for others, if only they would man up.

[eeza] 21/2/2020 17:19

I'm sure they would like to - if you could take the other side of the trade.

[chucko1] 21/2/2020 17:14

Perhaps Invesco can consider the same approach with RLE as well - will save us all a year or more of fuss and bother.

[spittingbarrel] 21/2/2020 16:48

83 paid for 154,000 after hours.

[chucko1] 21/2/2020 15:39

81.90/82.40 now.

[eeza] 21/2/2020 15:13

Yes, sb, I was also going to say that some have been placed with the MM.

[cwa1] 21/2/2020 14:59

And how many could the company buy back?

[spittingbarrel] 21/2/2020 14:58

Could be some of them left with mm's judging by the price. Not likely to be all of them though.

[chucko1] 21/2/2020 14:42

At least 2 RNS's - as I would have though 16% of the company would require more than one buyer - there are not too many Invescos around (well, not after the demise of Woodford).

[chucko1] 21/2/2020 14:40

81/81.6 the market now. Likely to go higher from here - it was 82 mid yesterday and now the imbecile is out of the way.

[redhill9] 21/2/2020 14:36

Presumably we should expect imminently two RNS statements regarding holdings - one (or more) up, one down.

[cwa1] 21/2/2020 14:27

Nice spot eeza. Assuming they have gone to "friendly" hands that should help a lot!

[eeza] 21/2/2020 14:25

The trade was 52,864,228

[chucko1] 21/2/2020 14:25

Well, that would appear to answer that question in part. Exactly what we were looking for in this stock.

[chucko1] 21/2/2020 14:22

52.8mm to be precise. Trying to find out who and why.

[skyship] 21/2/2020 14:22

52.864m was the last declared holding by Invesco...

[skyship] 21/2/2020 14:20

Shoot the lights out - well spotted Eeza.

So if that is the seller gone, who took them? A gigantic buyback - would be nice though unlikely.

Clears the way for a move higher perhaps...

[eeza] 21/2/2020 14:15

52m gone thro at 79p ?