REG - Vector Capital PLC - AGM statement and quarterly trading update

Vector CapitalAnnouncement

24/05/2022 07:00

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RNS Number : 4119M  Vector Capital PLC  24 May 2022

Vector Capital Plc

("Vector Capital", the "Company" or the "Group")

 

AGM statement and quarterly trading update

"Continuing to scale the business"

 

Ahead of the Company's Annual General Meeting ("AGM") being held at noon today
at 13 Sovereign Park, Coronation Road. London, NW10 7QP, Vector Capital Plc
(AIM: VCAP), a commercial lending group that offers secured loans primarily to
property developers located in England & Wales, is pleased to provide an
update on the Group's loan book and a trading update for the quarter ended 31
March 2022.

Loan book summary

As summarised below our loan book has grown by £4.5 million, or 9.8 %, in the
three months to 31 March 2022, with the number of live loans increasing to 89
from 79 in the same period.

 

                        As at 31/03/22  As at 31/12/21  As at 31/12/20
 Loan book              £50.8m          £46.3m          £36.4m
 Number of live loans   89              79              63
 Average loan size      £571,000        £586,000        £577,000
 Average loan to value  57.8%           53.5%           44.2%

 

Trading update

Despite the challenging economic conditions arising from rising inflation and
higher interest rates and the uncertain geopolitical situation in Europe,
current trading in 2022 has been in line with market expectations. The Company
has continued to expand and develop its loan book, maximise shareholder
returns and further establish its place in the market segment.

The Group continues to widen and deepen its relationships with its broker
network to identify suitable lending opportunities and is maintaining a
regular dialogue with providers of wholesale funding to maintain the financing
flexibility required to help the business grow.

 

 Agam Jain, CEO of Vector Capital will make the following statement at the
AGM:

"We have traded strongly in Q1 2022 and our pipeline of new loan opportunities
remains strong despite increasing competition in the market and the general
uncertain economic climate. The proven strength and resilience of the loan
management systems that we utilise underpins our ability to grow.

"The Group remains well placed to benefit from these opportunities to increase
market share and grow revenue and we remain on track to establish ourselves as
the lender of choice in our market segment. The Board is confident that the
Group is well placed to achieve continued success and we view the future with
confidence and optimism."

 

 For further information please contact:

 

 Vector Capital plc                                                              020 8191 7615

 Robin Stevens (Chairman)

 Agam Jain (CEO)

 WH Ireland                                                                      020 7220 1666
 Limited

 Chris Hardie, Jessica Cave, Megan Liddell

 IFC Advisory                                                                    020 3934 6630
 Limited
 Graham Herring, Florence Chandler, Zach Cohen

 

Notes to Editors

Vector Capital Plc provides secured, business-to-business loans to SMEs based
principally in England and Wales. Loans are typically secured by a first
legal charge against real estate. The Group's customers typically borrow for
general working capital purposes, bridging ahead of refinancing, land
development and property acquisition. The loans provided by the Group are
typically for renewable 12-month terms with fixed interest rates.

 

For more information on Vector visit: www.vectorcapital.co.uk

 

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