GLI Finance Limited - TR-1: Notification of Major Holdings

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)ⁱ

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedⁱⁱ:			GLI FINANCE LIMITED
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer						X
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights						X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights						X
Other (please specify)ⁱⁱⁱ:
3. Details of person subject to the notification obligation^iv
Name			SOMERSTON GROUP LIMITED - Concert Party
City and country of registered office (if applicable)			St. Helier, Jersey
4. Full name of shareholder(s) (if different from 3.)^v
Name			Somerston Fintech Limited & Golf Investments Limited (Direct) Lexo Investments Limited, Neslo Partners No. 2 Limited & La Hauteur Investments Limited (Indirect)
City and country of registered office (if applicable)			St. Helier, Jersey
5. Date on which the threshold was crossed or reached^vi:			21/12/2020
6. Date on which issuer notified (DD/MM/YYYY):			21/12/2020
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights of issuer^vii
Resulting situation on the date on which threshold was crossed or reached	42.40%	20.25%		62.65%	489,843,477
Position of previous notification (if applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached^viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights^ix					% of voting rights
		Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)			Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)
Ordinary shares of no par value GB00B0CL3P62		200,349,684		7,325,572			40.90%		1.50%


SUBTOTAL 8. A		207,675,256					42.40%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial instrument		Expiration date^x	Exercise/ Conversion Period^xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights


			SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument	Expiration date^x		Exercise/ Conversion Period ^xi		Physical or cash settlement^xii			Number of voting rights	% of voting rights
Warrants (Direct)	31 Dec 2025		30 days notice		Physical			94,294,869	19.25%
Warrants (Indirect)	31 Dec 2025		30 days notice		Physical			4,898,435	1.00%

					SUBTOTAL 8.B.2			99,193,304	20.25%

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer^xiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity^xiv(please add additional rows as necessary)
Name^xv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold




10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held

11. Additional information^xvi
Details of concert party: Somerston Fintech Limited/Golf Investments Limited - 200,349,684 Lexo Investments Limited - 2,242,829 Neslo Partners No. 2 Limited - 4,932,743 La Hauteur Investments Limited - 150,000 As at the Date of Completion, the warrants specified in Box B 2 have not been exercised in whole or in part. Accordingly, the "Total number of voting rights of issuer" in Box 7 do not account for any issuance of the new voting shares arising from the exercise of the warrants. Once the warrants are exercised in full, assuming no other changes in the interests or number of voting shares in the meantime, the "Total number of voting rights of issuer" in Box 7 will become 589,036,781. On that basis, the ownership of ordinary shares (including arising from the exercised warrants) would represent 52.10%.

Place of completion	St. Helier, Jersey
Date of completion	22nd December 2020