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GLI Finance reports NAV of 51.8p at 30 September

GLI Finance’s unaudited net asset value (NAV) per share as at 30 September 2013 was 51.8p, down from 53.1p as at 30 June 2013 but up from 49.1p per share as at 31 March 2013.

The sterling and Euro denominated investments (GBP22.4m as at the quarter end) were unchanged for the quarter.
 
The US investments (GBP43.5m at the quarter end) were GBP1.0m up in dollar terms, but were GBP2.1m down in sterling terms due to dollar weakness against sterling during the quarter.
  
The company’s recent acquisitions continue to integrate well with early indications of opportunities for both cross-referral between the company’s platforms and for the platforms to work together on financing solutions for UK SMEs. The company expects that the funds raised recently will be largely invested by BMS in a short timeframe.
 
As part of the ongoing evolution of the company’s strategy, GLI Finance is seeking shareholder approval to update its investing policy, as required under the AIM rules, and to delist from the Channel Islands Stock Exchange.
 
GLI Finance has also appointed Emma Stubbs as chief financial officer. Stubbs will join GLI Finance in November from Sportingbet, where she was head of business analysis and projects, responsible for formulating strategy across Europe and emerging markets. 

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