Panmure Gordon & Co, a leading independent institutional stockbroker and investment bank, is pleased to advise that it has acted as nominated adviser and broker on the IPO of Orchard Funding Group PLC raising £10.0m before expenses and valuing the company at £20.5m.

Orchard Funding Group, through its wholly-owned subsidiaries Bexhill UK Limited and Orchard Funding Limited, is a finance company which specialises in the insurance premium finance and the professional fee funding market. The Group lent £45.6m in the 12 months to 31 July 2014 and £24.0m in the six months to 31 January 2015. The Group provides finance to clients of insurance brokers to spread the cost of their insurance premiums and to clients of professional firms in order to spread the costs of their professional fees. The net proceeds of the Placing are intended to be used to provide capital for lending to its clients.

Chief Executive Officer, Ravi Takhar, said"Orchard Funding Group is delighted to be joining AIM. The new capital raised will enable the business to grow to its full potential and become a leading lender in the insurance premium finance and professions finance market."

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