Craven House Capital PLC Acquisition of shares in LM Funding America, Inc. (2605H)
November 14 2018 - 2:00AM
UK Regulatory
TIDMCRV
RNS Number : 2605H
Craven House Capital PLC
14 November 2018
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Craven House Capital plc
("Craven House" or the "Company")
Acquisition of shares in LM Funding America, Inc.
Craven House is pleased to announce its participation in a
Public Offering for shares of LM Funding America, Inc. (NASDAQ:
LMFA, "LMFA"). The Company has acquired 640,000 common shares at a
price of $2.40 per share for a total consideration of c.$1.5m. The
Company's position represents 31.5% of the common shares in
LMFA.
In the year to 31 December 2017, LM Funding America made a loss
before income tax of $5.2m and had total assets of $2m.
About LM Funding America:
LM Funding America, Inc., together with its subsidiaries, is a
technology-based specialty finance company that provides funding to
non-profit community associations ("Associations") primarily
located in the state of Florida, as well as in the states of
Washington, Colorado and Illinois. The company offers funding to
Associations in return for acquiring the associations' rights to
delinquent accounts that are selected by the Associations arising
from unpaid Association assessments. The company is also involved
in the business of acquiring delinquent accounts on various terms
tailored to suit each Association's financial needs, including
under the company's New Neighbour Guaranty(TM) program.
Ends
For further information please contact:
Craven House Capital Plc Tel: 0203 286 8130
Mark Pajak
www.Cravenhousecapital.com
SI Capital Tel: 01483 413500
Broker
Nick Emerson
www.sicapital.co.uk
SPARK Advisory Partners Limited Tel: 0203 368 3550
Nominated Adviser
Matt Davis/Mark Brady
www.Sparkadvisorypartners.com
About Craven House Capital:
The Company's Investing Policy is to invest in or acquire a
portfolio of companies, partnerships, joint ventures, businesses or
other assets globally in any geographic jurisdiction. The company
will invest in both developed and developing markets providing long
term patient capital and is often involved in special situations,
restructuring, expansion and turn around investments in crisis and
transitioning economies.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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