Vector Capital plc float on AIM
Vector Capital, together with its Subsidiaries VBFL and VAFL, is a commercial lending group that offers secured loans primarily to businesses located in the United Kingdom. Substantially all of the Group’s loans are secured by a first legal charge against real estate. The Group’s customers typically borrow for general working capital purposes, bridging, land development and acquisition.
The Group has an established network of brokers that introduce to Vector potential borrowers that match the Group’s lending criteria. The brokers submit proposals via the Group’s online portal and the Company endeavours to give decisions in principle and outline terms on a “same day” basis.
The Group’s loans issued are secured, typically by a charge against land or property, and usually this will be a first charge. The Directors believe that the Group’s credit management policies, both during initial underwriting and throughout the life of the loan, will result in minimal defaults.
The Group’s loans to its borrowers are financed primarily from a combination of the Group’s own resources and the Debt Facilities.
The Perivan shareholder communications team were delighted to work with Allenby Capital who were appointed Nominated Adviser and Sole Broker to Vector Capital on the successful publication of the 85-page admission document.
Admission to Trading on AIM
On 29th December 2020, admission and dealings commenced in the Ordinary Shares on AIM by way of a Placing of 8,052,895 Ordinary Shares of 0.5 pence each at 38 pence per share.
Reasons for Admission
The Directors believe that the Group has reached a stage of its development where it will benefit from the Company’s Admission to trading on AIM and that, as well as providing the net proceeds of the Placing, this will:
- Provide the Group with further access to equity capital in a cost effective and timely manner in order to thereby provide the Group with the financial flexibility to further increase its lending power and satisfy the demand which the Directors believe exists for loans of the nature of those provided by the Company;
- Help the Company to attract and retain high-quality staff;
- Enhance the credentials of the Group with existing and potential customers, introducers and lenders; and
- Help to raise the Group’s profile in the UK market.
Perivan specialise in the production and publication of financial documents relating to shareholder and investor communications for quoted companies, private companies and open and closed-ended funds.