Shore Capital Group Limited Puma Property Finance secures £200m funding line (2937J)
04 Diciembre 2018 - 1:00AM
UK Regulatory
TIDMSGR
RNS Number : 2937J
Shore Capital Group Limited
04 December 2018
Shore Capital Group Limited
("Shore Capital" or the "Company")
Puma Property Finance secures GBP200m institutional funding
commitment
Shore Capital, the independent investment group specialising in
capital markets, fund management and principal finance, is
delighted to announce that its fund management arm, Puma
Investments, ("Puma") has secured a new funding line of up to
GBP200 million from funds advised by RoundShield Partners LLP and
affiliates ("RoundShield") for deployment in its Puma Property
Finance business.
Puma Property Finance provides first charge secured lending to
UK property developers, funding projects across the UK with loans
of between GBP3 million and GBP30 million.
As well as backing professional developers of residential
schemes, Puma has significant experience in specialist sectors,
including hotels and leisure, retirement living, care homes and
supported living units. The business offers three core loan
products: stretch senior development loans; pre-development bridge
finance for site acquisition; and post-development exit
finance.
Puma already advises Puma Heritage plc on the deployment of the
funds it raises from private client investors into UK development
loans. The addition of the institutional commitment from
RoundShield, will enable Puma to continue to respond to the
significant demand it is seeing for development finance on
competitive terms and will enable the business to invest in its
infrastructure, including its high-quality, experienced lending
team.
For its role in originating, executing and managing loans Puma
will receive management and transactional related fees on loans
executed over a four year period. As part of the arrangements, the
progressive deployment of the funding line will entitle RoundShield
to acquire a stake of up to 25% in a newly incorporated subsidiary,
Puma Property Finance Ltd. In addition, RoundShield may be entitled
to additional payments on exit, dependent on the returns achieved
by it during the life of the transaction. Driss Benkirane and Max
Leeb, Managing Partner and Director of RoundShield respectively,
will join the board of Puma Property Finance Ltd.
Commenting on the new funding line, David Kaye, Co-Chief
Executive of the Company and Chief Executive of Puma, said:
"We are delighted to have secured a significant funding line for
our property finance activities. There are many high-quality real
estate opportunities across the UK unable to access financing from
traditional sources. This new partnership with the excellent team
at RoundShield will enable us to continue to scale-up our
activities with experienced developers to deliver both residential
schemes and projects in specialist sectors including hotels,
retirement living, student accommodation and care homes."
- Ends -
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Enquiries:
Shore Capital +44 (0)20 7408
David Kaye, Co-Chief Executive 4050
Grant Thornton UK LLP (Nominated
Adviser)
Philip Secrett +44 (0) 20 7383
Jamie Barklem 5100
Montfort Communications (Public Relations) +44 (0) 78 1234
Olly Scott 5205
About Shore Capital
Shore Capital is an AIM quoted independent investment group.
Founded and majority owned by entrepreneurs, for three decades
Shore Capital has been helping entrepreneurial businesses reach
their full potential, find committed long-term investors and
develop into significant enterprises. The business offers
innovative corporate advice; a leading market making business; some
of the most respected investment research available in the UK; and
a diverse range of high-quality investment opportunities, including
its hugely successful VCTs and principal finance activities.
The Group is based in Guernsey, London, Liverpool, Edinburgh and
Berlin. Shore Capital Stockbrokers Limited, Shore Capital and
Corporate Limited, Shore Capital Limited and Puma Investment
Management Limited are each authorised and regulated by the
Financial Conduct Authority. Shore Capital Stockbrokers Limited is
a member of the London Stock Exchange.
www.shorecap.gg
About Puma Investments
Part of Shore Capital Group, Puma Investments is an
award-winning fund management business which supports growing SMEs
and professional property developers across the UK. The business
has an established track record of achieving attractive returns for
investors and the businesses it supports. Its business divisions
include:
Puma Property Finance: providing finance to property developers
and real estate investors across the UK. The platform offers first
charge development loans, refurbishment loans, pre-development
bridges and development exit loans across residential, office and
hotel development schemes as well as assisted living and care
homes.
Puma Private Equity: supports profitable businesses with a clear
vision for growth. It focuses on supporting strong management teams
with robust business plans that generate high-quality revenues,
investing equity or a combination of equity and debt. Capital is
provided for a range of uses, including development and expansion,
product development and buy-and-build strategies.
Listed Equities: Puma offers a discretionary portfolio service
of AIM stocks that seeks to deliver long term growth whilst
mitigating Inheritance Tax as the portfolio is intended to qualify
for Business Property Relief (BPR), which takes effect after two
years from the acquisition of qualifying AIM stocks.
www.pumainvestments.co.uk
www.pumapropertyfinance.co.uk
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END
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