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N1H increases SME lending capacity and N1 Venture expands its AFSL authorisations


N1 Holdings Limited (ASX:N1H or Company) continues to expand its SME lending capacity and now has commitments close to $27 million comprised of balance sheet capital and capital from its SME lending fund, One Lending Fund. The Company is also pleased to announce its wholly owned subsidiary, N1 Venture Pty Ltd, an existing Australian financial services licence (AFSL) holder, has had its authorisations under its AFSL expanded to allow the business to perform the following to wholesale clients: (a) provide general financial product advice in relation to basic deposit products, interests in managed investment schemes (MIS) (excluding investor directed portfolio services (IDPS)), and securities; (b) deal in a financial product by: (i) issuing, applying for, acquiring, varying or disposing of a financial product in respect of interests in MIS (excluding IDPS); and (ii) applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products: basic deposit and payment products, foreign exchange contracts, general insurance products, interests in MIS (excluding IDPS), and securities; and (c) provide custodial or depository services. Obtaining these new authorisations is a significant milestone. The Company has previously relied on an outsourced third-party trustee and custodian to provide those services to the One Lending Fund. N1 Venture will now be able to provide trustee and custodial services to One Lending Fund. In addition, N1H intends to further expand into the funds management and trustee services sector, drawing on its experience in managing the One Lending Fund. The Company is in discussions with multiple parties to provide those parties with funds management, trustee and custodial services. N1H’s Executive Chairman and CEO says: "We are excited to be able to continue raising capital amid the pandemic. We are also confident that our lending and property experience will assist in growing our funds management and trustee services business. N1H continues to evolve in the property lending business and we are proud to be an innovative company bringing value to shareholders, other stakeholders and the market in general." Authorised for release by the Chairman. For more information, please contact:


Ren Hor Wong

Chairman & Chief Executive Officer

renwong@n1holdings.com.au

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