30th Apr 2014 13:05
LONDON (Alliance News) - GLI Finance Ltd's platforms are developing "in accordance with its strategy" and each has the potential to become a significant business in its own right, Chairman Patrick Firth will tell shareholders at the company's annual general meeting, Wednesday.
GLI Finance, which partners with alternative finance platforms in order to lend to small-and-medium-sized enterprises, is holding its AGM at 1500 BST Wednesday.
According to the Chairman, the alternative finance space is receiving increasing interest, particularly in peer-to-peer businesses.
There are a significant number of investors now seeking to allocate funds to invest into and through alternative finance companies, Firth will say.
"This has driven up the valuation that companies expect to receive for investment in their businesses, however, having made its 10 investments in platforms over the last 18 months, GLIF will only make any further investments where we feel that the compelling value story remains," shareholders will hear.
Firth will say that GLI Finance is discussing potential transactions with "a number of parties" that would be "complementary."
Work continues on the proposal to float Fair Oaks Income Fund, Firth will say.
The move would result in GLI Finance having no direct interest in collateralised loan obligations for the first time since 2007.
GLI Finance shares were Wednesday quoted at 58.80 pence, up 0.3%.
By Samuel Agini; [email protected]; @samuelagini
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