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Paternoster wastes no time in deploying investment capital

Paternoster has already lent out almost £2mln of the £5mln it raised over summer, and chairman Nicholas Lee is confident the rest will be deployed in the near future
woman giving money
The majority of Paternoster’s portfolio now consists of income-generating investments

Paternoster Resources PLC (LON:PRS) has provided almost £2mln of bespoke financing to small companies over the past month.

The company raised £4.5mln from investors over the summer, with a large chunk of that having now been lent out.

READ: Paternoster sees good return in small company funding gap

“We are very pleased with the number of investment opportunities that have been made available to us and we are confident of being able to deploy the capital that we have raised earlier in the year,” said chairman Nicholas Lee.

As a result, the majority of Paternoster’s portfolio is now made up of income-generating investments arranged by its advisor, RiverFort.

Many of these investments include warrants in the underlying investee companies, as Paternoster looks to increase its scope to benefit from the firms’ future equity performance.

That is on top of the income it receives in the form of interest payments, fees and debt principal repayments.

Paternoster shares were down 2.4% to 0.1p on Wednesday afternoon.

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Paternoster Resources Timeline

Newswire
January 24 2012

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