REG - Vector Capital PLC - Trading Update

Vector CapitalAnnouncement

01/12/2021 07:00

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RNS Number : 1006U  Vector Capital PLC  01 December 2021

This announcement contains Inside Information for the purposes of Article 7 of
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018).  Upon the publication of this
announcement this Inside Information is now considered to be within the public
domain.

 

 

 

1 December 2021

 

Vector Capital plc

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

 

Trading Update

 

Trading ahead of expectations

 

Vector Capital plc (AIM: VCAP), the commercial lending group that offers
secured loans primarily to businesses located in the United Kingdom, today
provides the following update on the Board's expectations for trading for the
year ending 31 December 2021.

 

As a result of the Group's continued strong performance since the
announcement, on 6 September 2021, of the half year results for the period
ended 30 June 2021, the Board now expects revenue and pre-tax profit for the
full year, and the aggregate loan book at the year end, to be ahead of current
market expectations.

 

The positive trading levels are consistent with the successful and staged
deployment of the additional capital raised at the time of the Company's
admission to AIM in December 2020 and subsequent placing in June 2021, and of
the increased debt facilities of £30 million provided by the Group's
wholesale lenders during 2021.

 

The Company expects to announce its results and recommend a final dividend for
the year ended 31 December 2021 in early April 2022.

 

Agam Jain, CEO of Vector Capital Plc commented: "We are pleased to update on
the continued positive performance of the Group, driven by the increasing
demand for our loans from an expanding introducer base."

 

Further enquiries:

 

 Vector Capital plc

 Agam Jain                                                  +44 (0)20 8191 7615

 Allenby Capital Limited

 James Reeve/George Payne/Nick Naylor (Corporate Finance)   +44 (0)20 3328 5656

                                                          (https://www.google.com/search?q=allenby+capital&rlz=1C1CHBD_en-GBGB858GB858&oq=allenby+capital&aqs=chrome..69i57j46i175i199j35i39j69i59j0i20i263j0l2j69i60.3277j0j7&sourceid=chrome&ie=UTF-8)
 Tony Quirke (Sales and Corporate Broking)

                                                            www.allenbycapital.com (http://www.allenbycapital.com/)

 

Notes to Editors

 

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

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