Puma Heritage plc (the Company) today announces the launch of its Prospectus with a new reduced minimum subscription of £25,000.
Established to operate in a range of sectors including secured lending and leasing, Puma Heritage has been involved in a number of transactions with high quality businesses. It also continues to see strong demand from shareholders driven by the increase in interest for inheritance tax solutions.
The approval of Puma Heritage’s Prospectus by the UK listing authority of the FCA brings with it a significant benefit in that the minimum subscription has now been reduced from £100,000 to £25,000. With the nil-rate band for IHT frozen at £325,000 until 2019 and the well documented rises in property prices, the reduced minimum investment will make Puma Heritage more accessible as the Company seeks to offer shares to a wider range of shareholders. This also comes at a time when HMRC is consulting on restricting the splitting of the nil-rate band between every trust a settlor creates, which may encourage people to seek alternative solutions to mitigate inheritance tax.
Puma Investments, the trading advisor to Puma Heritage, also reports strong market conditions with a pipeline of quality, asset backed businesses seeking the secured loans which the Company provides. Recent notable deals include participating in a £5m loan to provide residential housing finance to Citrus PX. Citrus have a strong track record in providing rapid purchase services for homeowners and housing scheme developers. The loans are conservatively underwritten and the Company benefits from a first charge over each acquired property.
Peter Wisher, Chairman of Puma Heritage, commented: “This is an exciting time for Puma Heritage and with today’s announcement, the Company will be well placed to capitalise on current demand from shareholders for our lending approach. We are extremely grateful for the efforts of Puma Investments in assisting in the launch of the Prospectus and we look forward to welcoming new shareholders to the Company and continuing to deliver on our strong pipeline of lending opportunities.”
Puma Investments Chief Executive, David Kaye, added: “We have seen significant demand for Puma Heritage and are pleased with the progress the Company has made in making a number of secured loans to strong counterparties. We look forward to working with Puma Heritage in the latest exciting chapter of its growth.”
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