Panmure Gordon & Co, a leading institutional stockbroker and investment bank, placed 9 million new ordinary shares at 51 pence per share with new and existing institutional investors, raising 4.6 million pounds for its client GLI Finance Ltd. (GLIF.LN), a provider of loans to U.S. and U.K. based SMEs.

The Placing Shares issued represented 6.9 per cent of the Company's existing issued share capital.