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Elaine Securities Plc
HJSP - Elaine Securities Plc (Bonds 2025)
Implementation of Business Plan

Elaine Securities Plc

Business Implementation Plan

Elaine Securities Plc (the “Company” or “Elaine”) continues to implement its business plan in accordance with the latest annual report issued in September 2018.

The principal activity of the Company is to focus predominantly on and invest in medium-term, asset-backed loans to bodies corporate that meet certain eligibility criteria.  A majority of the Company’s funds were raised during 2016 and the business has been able to deploy the funds raised to date with appropriate businesses.  Although the average investment length may vary, it remains the Directors intention to target investments of a 3-year duration that will be funded by way of issuance of a 10-year 5.0% bond.

Elaine Securities Plc has continued to implement the stated business plan since the latest annual report issued in September 2018 for the year ended 28 February 2018.  In implementing the business plan, the Company has since that date loaned funds to:

  • A company towards the purchase and development of a Grade II listed property in Birmingham;
     
  • A company to fund the development of residential apartments in Brentford;
     
  • A French company for the development of a hotel complex in the prestigious French ski resort of Courchevel;
     
  • Additional funding to a company to fund a property development in Leicester;
     
  • Additional funding to a company that purchased a residential development in Frinton-on-Sea, Essex;
     
  • A loan to a company to fund the development of residential apartments in Bracknell;
     
  • A loan to a company to fund the acquisition of a 49-bedroom care home in Middleborough; and
     
  • A loan to a company to refinance an existing loan secured against a two-story detached public house in Essex.

As part of the continuing business plan implementation, we have also received repayments on the following loans since 28 February 2018:

  • A partial repayment of a loan to an existing borrower, which is funding a property development loan in Frinton-on-Sea, Essex;
     
  • A partial repayment of a loan to an existing borrower, which is funding a property acquisition in Elephant & Castle, London;
     
  • A partial repayment of a loan to an existing borrower which is funding a facility for a motor vehicle finance business;
     
  • Full repayment of a loan to an existing borrower which was funding a property acquisition in Nottingham;
     
  • Full repayment of a loan to an existing borrower which was funding an acquisition of a commercial property with prior approval to convert into luxury apartments in Bristol;
     
  • Full repayment of a loan to an existing borrower which was secured against a property development in Marbella, Spain; and
     
  • Full repayment of a loan to an existing borrower, which was funding a property development in Kent.  

The Directors will continue to keep bondholders up to date with regular announcements where material changes to the Company occur.

The Directors of the Issuer accept responsibility for the contents of this announcement.

 

FOR FURTHER INFORMATION PLEASE CONTACT:

Simon Sacerdoti - Director
Elaine Securities Plc
Telephone: +44 203 637 6616

CSE Nominated Advisor
Nick Michaels and Jon Isaacs
Alfred Henry Corporate Finance Limited
www.alfredhenry.com
Telephone: +44 (0)20 3772 0021

Not Regulated
Filing Date: 30/01/2019 19:10

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