REG - Sancus Lending Group - Trading Update and Issuance of Sancus Bond

Sancus LendingAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260526:nRSZ6584Fa&default-theme=true

RNS Number : 6584F  Sancus Lending Group Limited  26 May 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH FORMS PART OF DOMESTIC UK
LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO
BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN
POSSESSION OF INSIDE INFORMATION.

 

Sancus Lending Group Limited

("Sancus" the "Company" or the "Group")

 

Trading Update and Issuance of Sancus Bond

Sancus Lending Group Limited (AIM: LEND) provides an update on trading for the
four months ended 30 April 2026 (the "Period"). The Company also announces the
issuance of £0.5 million under its existing bond instrument (the "Sancus
Bond"). The figures in this announcement remain subject to audit.

Trading Update

In the Period, the Company's revenue increased by 44.1 per cent. to £8.5
million (four months ended 30 April 2025: £5.9 million) driven by the UK and
Irish businesses. During the Period, the Company wrote new loan facilities of
£42.9 million, in line with the four months ended 30 April 2025 (£42.4
million). As at 30 April 2026, the Company had assets under management of
£326.8 million, representing a 6.6 per cent. increase relative to 31 December
2025 (£306.7 million).

The Board remains encouraged by the continued growth in revenues and assets
under management and by the resilience of origination volumes in challenging
market conditions. However, the current geo-political and macro-economic
backdrop continues to impact activity levels across the Group's markets and
has resulted in slower deployment of capital than originally anticipated and a
longer duration of loans.

In addition, the Group has experienced increased financing and liquidity carry
costs associated with maintaining higher cash balances pending deployment. As
a result, notwithstanding the strong revenue performance, profitability in the
first half has been adversely impacted and is below management expectations.

The Board remains focused on disciplined deployment of capital, margin
management and growing assets under management through the remainder of the
financial year, whilst remaining mindful of the uncertain market environment.

The Group expects to release its half year results for the period ended 30
June 2026 in September 2026.

Issuance of Sancus Bond

The Board of the Company today also announces that it has issued £0.5 million
of Sancus Bonds to Somerston Fintech Limited ("Somerston Fintech"), a
subsidiary of Somerston Group, the majority shareholder of the Company. The
Sancus Bonds have a coupon of 8 per cent. and mature in October 2027. The
proceeds of the subscription will provide the Group with additional working
capital flexibility.

Related Party Transaction

Somerston Fintech, a member of Somerston Group Limited, is a related party of
the Company for the purposes of the AIM Rules for Companies ("AIM Rules").
This issuance of Sancus Bonds constitutes a related party transaction under
AIM Rule 13, in respect of which the independent directors of the Company,
having consulted with the Company's nominated adviser, Shore Capital and
Corporate Limited, consider the terms to be fair and reasonable insofar as
shareholders of the Company are concerned.

 

 

For further information, please contact:

 

 Sancus Lending Group Limited                  +44 (0)1481 708280

 Rory Mepham, Chief Executive Officer

 Keith Lawrence, Chief Financial Officer
 Shore Capital (Nominated Adviser and Broker)  +44 (0)20 7408 4050

 Oliver Jackson

 George Payne

 Ansh Batura

 Redwood Co Sec Limited                        +44 (0)1481 701950

 Charlotte Sanders

 Gwen Norman

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTAKPBQBBKBCPB



            Copyright 2019 Regulatory News Service, all rights reserved