GLI Finance to increase stake in Sancus IOM Holdings
AIM-listed investor GLI Finance has agreed to buy an additional 2.1% stake in Sancus IOM Holdings, which finances small-medium sized enterprises, for £163,331.
Equity Investment Instruments
12,016.09
17:14 04/10/24
0.38%
45.83
FTSE AIM All-Share
738.36
16:54 04/10/24
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Sancus Lending Group Limited NPV
0.50p
16:50 04/10/24
0.00%
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The acquisition will be bought at the same price for each share the company paid for the initial 14% it bought in February and will be funded from existing cash resources.
The deal will see Sancus BMS Group, which the company bought last May, increase its shareholding in Sancus IoM to 23.1%.
GLI said that the acquisition will also mean that it benefits from Sancus IoM’s continued growth in the industry.
Shares in GLI Finance were down 0.88% to 22.55p at 0849 BST.