REG - Sancus Lending Group - Sale of ZDP shares from treasury

Sancus LendingAnnouncement

28/04/2023 07:00

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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 £3,000,000 (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 £10.13m 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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