REG - Vector Capital PLC - Update on Aggregate Loan Book

Vector CapitalAnnouncement

10/01/2023 07:00

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RNS Number : 1422M  Vector Capital PLC  10 January 2023

Vector Capital plc

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

Update on Aggregate Loan Book

Vector Capital plc (AIM: VCAP), the commercial lending group that offers
secured loans to property developers and investors in England & Wales, is
pleased to provide the following update on the Group's aggregate loan book as
at 31 December 2022.

The Group's aggregate loan book as at 31 December 2022 was £53.4 million, a
15.4% increase as compared to the end of the previous year of £46.3
million. This increase reflects the Group's continuing strong progress,
despite the well-publicised challenging market conditions, and is built upon
the increase in the debt finance facilities provided during the year by our
wholesale lenders. The number of loans also increased from 79 to 107 during
the year, representing a net increase of 35.4%, and, in line with the Group's
communicated future strategy, a consequent and intended reduction in the
average loan value from £586,000 to £499,000 as at 31 December 2022.

Agam Jain, CEO of Vector commented: "We are delighted to provide an update on
the 15.4% annual increase in our aggregate loan book value at 31 December
2022, consistent with the continuing demand for loan finance generated from
within our chosen market. This increase highlights the resilience of our
business model as we continue to grow the business despite the uncertain
conditions. We look forward to updating the market with the Group's full
results in due course."

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

Enquiries

 

 Vector Capital plc                             020 8191 7615
 Robin Stevens (Chairman)
 Agam Jain (CEO)

 WH Ireland Limited                             020 7220 1666
 Chris Hardie, Megan Liddell

 IFC Advisory Limited                           020 3934 6630
 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.

 

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