Sancus Lending Group Limited Sale of ZDP shares from treasury (7748X)
April 28 2023 - 2:00AM
UK Regulatory
TIDMLEND
RNS Number : 7748X
Sancus Lending Group Limited
28 April 2023
28 April 2023
Sancus Lending Group Limited
(the "Company" or the "Group")
Sale of ZDP shares from treasury
The Company announces the sale today of 2,068,966 zero dividend
preference shares of no par value (" ZDP Shares ") from treasury to
Somerston Group, the Company's largest shareholder, at a price of
145 pence per share (being the mid-market closing price of the ZDP
Shares on 27 April 2023) for an aggregate cash consideration of
approximately GBP3,000,000 (the " ZDP Share Sale "). The proceeds
of the ZDP Share Sale will be used to facilitate a drawdown from
the Group's institutional funding lines, to fund continued growth
of the Group's loan book.
Following the ZDP Share Sale, the Company has 18,169,461 ZDP
Shares in issue, of which 10,505,739 are held by the Company as
treasury shares. The total number of ZDP Share voting rights is
therefore 7,663,722. This figure of 7,663,722 may be used by
holders of ZDP Shares as the denominator for the calculations by
which they can determine if they are required to notify their
interest in, or a change to their interest in, the ZDP Shares under
the FCA's Disclosure Guidance and Transparency Rules.
Somerston Group, which currently also hold 50.44% of the
Company's ordinary shares and GBP10.13m of principal of the Group's
bond instrument, will hold 2,068,966 ZDP Shares following the ZDP
Share Sale, equivalent to 26.99 per cent. of the resultant total
ZDP Share voting rights. Given Somerston Group's shareholding in
the Company, the ZDP Share Sale represents a related party
transaction, pursuant to AIM Rule 13. The independent directors
(being the Company's directors with the exception of Tracy Clarke)
consider, having consulted with the Company's nominated adviser,
Liberum Capital, that the terms of the ZDP Share Sale is fair and
reasonable insofar as its independent shareholders are
concerned.
For further information, please contact:
Sancus Lending Group Limited
Rory Mepham
+44 (0)1481 708 280
Liberum Capital (Nominated Adviser and Corporate Broker)
Chris Clarke
Lauren Kettle
+44 (0) 20 3100 2000
Instinctif Partners (PR Advisor)
Tim Linacre
Victoria Haynes
+44 (0)207 457 2020
Sanne Fund Services (Guernsey) Limited (Company Secretary)
Matt Falla
+44 (0)1481 755530
LEI: 213800S2XOO3YSEGCA26
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END
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