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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
London Asia | LSE:LDC | London | Ordinary Share | GB0008251513 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.85 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0717F London Asia Capital PLC 03 October 2007 For immediate release: 3 October 2007 LONDON ASIA CAPITAL PLC ("London Asia" or "the Company") Offer to sell Shares London Asia Capital PLC (LDC.L) the Asian focused investment group has today posted a circular to shareholders outlining details of an opportunity for them to acquire certain shares owned by London Asia in certain of its investee companies. The circular can be downloaded from the Company's website at www.londonasiacapital.com. The Board of London Asia has decided to make this offer as it is pursuing an accelerated disposal strategy, which could bring in cash and enable the Company to book profits on the disposal of Shares to clear the deficit on the profit and loss revenue account, which could put it in a position to buy back shares in the Company or return cash via dividends in the future. Jack Wigglesworth Chairman of London Asia commented: "Despite the success of our investment strategy, and the on-going disposal strategy which saw us realise #4.6 million from sale of investments in 2006, the Company's share price has for some time been trading significantly below the Company's reported net assets. Your Board has been looking at various ways of addressing this discount and returning value to Shareholders. Given the cash constraints, and the deficit on the profit and loss reserve Account from historic losses incurred primarily prior to the current management team taking over in 2002, the Company is restricted in its ability to pay dividends or buy back its own shares." He added: "Given the relatively large stakes that London Asia holds in its investee companies, and the desire to dispose of holdings of shares in these companies in a short period of time, it is likely that shares will need to be disposed of at a discount to their trading value. The Board has therefore decided to offer Shareholders the opportunity to acquire some of the shares being sold at a discount to current trading price." For further information please visit www.londonasiacapital.com or contact: Jack Wigglesworth / Cecilia Wong John West/Andrew Dunn Jonathan Wright London Asia Capital plc Tavistock Communications Seymour Pierce Tel: +852 2251 8373 Tel: 020 7920 3150 Tel 020 7107 8050 This information is provided by RNS The company news service from the London Stock Exchange END MSCMJBTTMMIMBIR
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