REG - LMS Capital PLC - Portfolio Update - Brockton Fund 1

LMS CapitalAnnouncement

29/01/2024 07:00

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RNS Number : 1917B  LMS Capital PLC  29 January 2024

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT MAY CONSTITUTE INSIDE
INFORMATION AS STIPULATED UNDER THE UK'S MARKET ABUSE REGULATION. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW CONSIDERED TO
BE IN THE PUBLIC DOMAIN.

 

LEI: 2138004UJ1TW8UCELX08

 

29 January 2024

 

LMS Capital plc ("LMS" or "the Company")

Portfolio update - Brockton Fund 1

 

The Company has been informed by the general partner of Brockton Capital Fund
I ("Brockton") that the senior lender to Brockton's "Super Prime" residential
development in Mayfair ("Mayfair development") appointed a receiver to the
Mayfair development on 26 January 2024. LMS has an investment in Brockton
which in turn holds a preferred debt investment in the Mayfair development
with a reported net asset value by LMS of £4.9m at Q3 2023.

 

Whilst sales of apartments in the Mayfair development have been slower than
originally anticipated, sales prices achieved have been strong. Furthermore,
Brockton has informed LMS that the senior lender intends to conduct an orderly
sales process of the Mayfair development. LMS will provide a further update in
due course.

 

The person responsible for arranging the release of this announcement on
behalf of the Company is IQ EQ Corporate Services (UK) Limited, the Company
Secretary.

 

For further information please contact:

 

LMS Capital plc - Nick Friedlos, Managing Director

0207 935 3555

 

Shore Capital - Rose Ramsden

0207 408 4050

 

 

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