Watrium continues its support of London AIM-listed Distribution Finance Capital Holdings Plc (“DF Capital”) through participation in a GBP 40 million private placement.
DF Capital was recently awarded their banking licence. The net proceeds of the private placement will be utilised to accelerate the Group’s business plan and loan book growth by unlocking significant and current pipeline of demand. The additional equity will remove the current GBP 270 million constraint on the loan book and should support a loan book of up to GBP 550 million.
Watrium, represented on the DF Capital Board of Directors by Haakon Stenrød, was allocated 7,272,727 shares in the private placement. The private placement is subject to an approval by the General Meeting on 22 Feb 2021. Following the private placement Watrium will hold an aggregate of 23,646,093 shares, corresponding to 13% of the total number of shares and votes in the company at that time.
Watrium has been a long-term investor in DF Capital and acted as one of the cornerstone investors in the IPO in May 2019.
For further details, see the stock exchange announcement from DF Capital.