Platform Black founder swaps shares with GLI

 
Adam Hignett
GLI FINANCE announced it had expanded its stake in Platform Black to 31.9 per cent yesterday in a move valuing the issued shares of the UK-based invoice trading business at £2.5m.

GLI Finance announced it had expanded its stake in Platform Black to 31.9 per cent yesterday in a move valuing the issued shares of the UK-based invoice trading business at £2.5m. The deal will see Platform Black co-founder Louise Beaumont see her direct holdings in Platform Black swapped for 511,529 GLI ordinary shares, representing 0.2 per cent of the company’s enlarged issued ordinary share capital. Beaumont is currently GLI’s head of public affairs and marketing division.

Geoff Miller, chief executive of GLI, said: “We believe that Platform Black today is a much stronger business than it was a year or so ago, with the resilient processes and procedures that give it the potential to accelerate profitable growth, through its supply chain finance and partnerships businesses. The decision to increase our stake in Platform Black reflects the significant recent operational and personnel changes made by the company's management.”