Jeffreys Henry Advise Vector Capital Plc on £16m AIM IPO

Jeffreys Henry LLP, the award-winning provider of audit, tax and advisory services to LSE, AIM and Aquis listed companies, has advised Vector Capital Plc on its £16 million initial public offering on London’s AIM market.

In conjunction with the Admission on 29 December 2020, a total of 8,052,895 new Ordinary Shares were placed with institutional and other investors at a price of 38 pence per share (the “Placing Price”) raising gross proceeds of £3.1 million for the Company. The proceeds of the placing will be used by the Company to further grow its loan book and for general working capital purposes.

Vector Capital provides secured, business-to-business loans to SMEs based in England and Wales. Customers typically borrow for general working capital purposes, bridging ahead of refinancing, land development and property acquisition. As of 30 September 2020, the Company had a loan book of £34.7m, with an average loan size of approximately £0.57m.

Agam Jain, CEO of Vector Capital, said: “Vector Capital’s debut on AIM represents a significant milestone and an exciting opportunity for the business. We are delighted with the positive reception received from institutional investors and we are pleased to welcome them on board. Over the last two decades, we have built up a profitable, cash generative business and become a trusted lender by brokers and our Placing and admission to AIM enables us to increase our lending power and scale the business. With a strong pipeline of loans underpinned by market demand, we look forward to executing our growth plans and delivering returns to our shareholders.”

Jeffreys Henry LLP acted as the Reporting Accountant in respect of the IPO.

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NICK MICHAELS

Partner - Capital Markets

Throughout his career, Nick has extensively worked with public listed companies, including those listed on the LSE Standard List, AIM, Aquis (NEX) and CSE listed companies, during a time of accelerated growth, reverse takeovers and mergers and acquisitions.

SANJAY PARMAR

Partner - Capital Markets

Sanjay qualified as a Chartered Accountant in 1990. He is a corporate specialist with a client base in various sectors. Sanjay is the lead auditor on over 21 of our listed companies and has acted as the Reporting Accountant on a number of IPO’s and reverse transactions. He has extensive experience in the application of International Financial Reporting Standards (“IFRS”) and undertaking investigating accountant assignments on acquisitions.