StockMarketWire.com - GLI Finance has confirmed that it has agreed binding terms for a strategic relationship with Golf Investments, following the announcement on 21 December.

The board intends to use the proceeds from implementation of the proposals to substantially repay the outstanding balance on the company's existing loan facility with Sancus and for general corporate purposes. The board believes that the terms it has agreed with Golf Investments will reduce the company's overall cost of capital, help to accelerate the growth of GLIAM and GLIAF and substantially repay the loan facility.

Implementation of the proposals is subject to the approval of shareholders at an extraordinary general meeting on 25 February.




At 8:48am: [LON:GLIF] GLI Finance Ltd share price was +0.5p at 29p



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