- GLI Finance, a specialist provider of finance to small and medium sized enterprises, has announced a placing of up to 34,500,000 new ordinary shares at a price of 58p per share.

The placing is subject to shareholder approval.

Proceeds of the placing will be used to provide additional development capital for the Group's platform investments and enable expansion of the lending activities of GLI's family of platform businesses.

GLI Finance's chief executive officer, Geoff Miller, said: "The funds raised from the placing will enable the Group to provide additional capital for the ongoing development of its family of platform businesses, as well as for further direct investment in loans originated by those platforms as deal flow continues to increase.

"Now that all the building blocks are in place, the Board believes that 2015 can be a breakthrough year for the company and see the business becoming the diversified player in the alternative finance sector."

At 12:21pm: [LON:GLIF] GLI Finance Ltd share price was -3.38p at 59.25p

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