4 March 2016

GLI Finance Limited ("GLI" or "the Company")

Completion of GLIAF share sale

The board of GLI confirms that on 3 March 2016, the Company completed the sale to Golf Investments Limited ("Golf") of 15,000,000 ordinary shares in GLI Alternative Finance plc ("GLIAF") at a price of £1 per share, raising gross proceeds for the Company of £15,000,000. GLI now holds 25,270,763 ordinary shares, representing 47.99% of GLIAF's issued share capital.  

Further to the EGM held on 25 February 2016, GLI has, in connection with the sale, issued to Golf warrants exercisable over 32,000,000 ordinary shares in GLI as follows:

-              10,000,000 warrants at 40 pence per ordinary share;

-              10,000,000 warrants at 45 pence per ordinary share; and

-              12,000,000 warrants at 55 pence per ordinary share.

The warrants may be exercised at any time prior to the fourth anniversary of the date of their issue.

Enquiries

GLI Finance Limited

Andy Whelan

+44 (0)1534 708900

Panmure Gordon (Nominated Adviser and Corporate Broker)

Dominic Morley

+44 (0)20 7886 2954

Peter Steel

+44 (0)113 357 1152

Tom Salvesen

+44 (0)20 7886 2904

Instinctif Partners (PR Advisor)

Tim Linacre / Nick Woods

+44 (0)207 457 2020