- GLI Finance has subscribed for 5,000,000 new preference shares at par in its 84% owned subsidiary, Platform Black Limited, for an aggregate subscription price of GBP5,000,000.

To date GBP4,000,000 preference shares have been issued. The preference shares carry a 9% coupon payable quarterly and are non-voting with a five-year maturity. Platform Black, an online business finance marketplace for UK SMEs, plans to use the additional funds from its parent company to strengthen its balance sheet and position the business for further growth.

At 9:52am: [LON:GLIF] GLI Finance Ltd share price was 0p at 32p

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