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The Just Loans Group has secured a listing on the Vienna Stock Exchange following a successful debt for equity swap exercise.
Group debenture holders were offered the opportunity to exchange 50% of the value of their debentures for new shares in the company, up to a maximum of 3.2 million.
Trading of the group’s share began early last week on the Wiener Borse third market, which complements an existing listing on the Cyprus Stock Exchange.
John Davies, CEO of Just Loans (pictured above), said: “Following our successful debt for equity swap exercise we were looking to offer our shareholders increased liquidity and trading options.
“The well-established and centuries old Vienna Stock Market provides this.
“As the business continues to expand, we may find in the future the best course of action will be to seek an AIM listing on the London Stock Exchange.”
The Vienna Stock Exchange is the only securities exchange in Austria.
Just Cashflow has also introduced a new loan product called business builder, which provides short- and long-term loans from £10,000-500,000 with fixed or variable repayments.
John added: “We appreciate that businesses have different finance needs that reflect their growth plans, seasonality of income and a range of other factors.
“This has driven the creation of our new product along with recognition that professional brokers and intermediaries are ideally placed to work with their business customers to design the most suitable loan facility.”
Just Loans Group PLC entered the UK alternative finance sector in 2012 with the aim of providing a real alternative to business banking and has built a robust, scalable, anti-money laundering compliant process for on boarding corporate borrowers in the UK and, in the near future, Europe.