Share Name Share Symbol Market Type Share ISIN Share Description
Lms Capital Plc NEX:LMS.GB NEX Ordinary Share GB00B12MHD28
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 49.05 45.60 52.50 49.05 49.05 49.05 0.00 07:59:40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

LMS Capital PLC Sale of investment in Entuity completes

14/08/2019 7:01am

UK Regulatory (RNS & others)


Lms Capital (NEX:LMS.GB)
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RNS Number : 9468I

LMS Capital PLC

14 August 2019

LMS Capital plc

("LMS" or "the Company")

Completion of the sale of the Company's investment in Entuity

In the announcement on 2 August 2019, of its results for the six months to 30 June 2019, the Company reported that contracts had been exchanged in late July 2019 for the sale of its investment in Entuity, with completion due on or before 30 September 2019.

The Company is pleased to confirm that completion of the sale took place on 13 August 2019.

After allowing for estimated transaction costs and payments due under legacy incentive schemes, net cash proceeds to be received by the Company will be approximately GBP10.5 million, an increase of GBP2.4 million over the net proceeds recognised at 30 June 2019 with a corresponding increase in net asset value. This reflects the sale not only of all the Company's shares, but also the repayment of all working capital loans.

Graham Bird, Gresham House Asset Management, commented:

"We are delighted on the realisation of Entuity which has been a complex transaction, but very successful from an LMS shareholder value perspective. This leaves the Company with a strong balance sheet from which to progress to the next stage of its journey as an attractive specialist private equity vehicle."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please contact:

 
 LMS Capital plc 
  Martin Knight, Chairman                   020 3837 6275 
 Gresham House Asset Management Limited 
  Graham Bird                               020 3837 6275 
 J.P. Morgan Cazenove (Corporate Broker) 
  Michael Wentworth-Stanley                 020 7742 4000 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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August 14, 2019 02:01 ET (06:01 GMT)

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