Plenti Lending Platform: June 2021 quarterly data report
Our quarterly data report in relation to the Plenti Lending Platform (PLP) loan book and provision fund performance.
Plenti Group Limited (Plenti
or the Company) is pleased to provide its quarterly data report in
relation to the Plenti Lending Platform (PLP) loan book.
Shareholders in Plenti should be aware that the data provided in
this report only relates to the PLP and does not provide a complete picture of
Plenti’s total loan portfolio. In particular, it does not
include data on loans funded via the Company’s warehouse facilities and the
Plenti Wholesale Lending Platform. Shareholders should refer to the quarterly
trading update released to the ASX on 13 July 2021 for data in relation to the
performance of the entire Plenti loan portfolio.
The PLP is a registered managed
investment scheme with over 23,500 members (who are predominantly retail
investors). Plenti releases to its website the data in this report on a
quarterly basis to members who invest in the PLP. Plenti has also released this
information to the ASX each quarter, however, as the PLP now represents a less
significant proportion of Plenti’s total loan funding the Company will
discontinue providing this release to the ASX in future periods.
An important feature of the PLP
is the Provision Fund. The Provision Fund comprises cash held on trust for the
benefit of members who invest via the PLP and is designed to help protect them
from loss in the event a borrower misses a payment or defaults. Information on the Provision Fund position as
at 30 June 2021 is set out below.
Further information regarding loans funded via the
Plenti Lending Platform can be accessed here: https://www.plenti.com.au/newsroom/provision-fund-loan-book-update-june-2021/
All numbers in this release are
preliminary and unaudited. This release was approved by the Chief Executive
Officer on behalf of the Plenti board of directors. For more information,
please contact Julia Lefort, Head of Corporate Affairs, email@example.com,
Written byGlenn Riddell
Glenn co-founded Plenti in May 2014 and has broad experience in building disruptive finance platforms, and in the retail lending industry since 2007.