REG - LMS Capital PLC - Notice of GM

LMS CapitalAnnouncement

24/04/2025 10:45

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RNS Number : 0561G  LMS Capital PLC  24 April 2025

24 April 2025

 

LMS Capital Plc

("LMS" or the "Company")

 

Publication of Circular and Notice of General Meeting

 

On 13 March 2025, the Board of LMS Capital plc announced that, following the
conclusion of a shareholder consultation, it had determined that it would be
in the best interests of Shareholders as a whole to put forward a proposal for
a managed realisation of the Company (the "Managed Realisation").

 

Capitalised terms used in this announcement shall have the same meanings given
to them in the Circular unless otherwise defined herein.

 

The Company announces that it has today published a circular (the "Circular")
to Shareholders. The Circular outlines the recommended proposals for the
Managed Realisation and to convene a general meeting (the "General Meeting")
to seek the approval of Shareholders for:

 

·   the adoption of the New Investment Policy (replacing the Existing
Investment Policy) to reflect the realisation strategy and the Company ceasing
to make new investments during the realisation period;

·      the amendment of the articles of association of the Company to,
among other things, permit the Directors to return capital to Shareholders
pursuant to the Managed Realisation by way of a B Share Scheme;

 

and other resolutions in order to facilitate the implementation of the Managed
Realisation (the "Resolutions").

 

The Circular also contains a notice convening the General Meeting to be held
on Wednesday 14 May 2025 at 3 Bromley Place, London, W1T 6DB, United Kingdom
at 11:15 am (or as soon afterwards as the AGM convened for 11:00 am on the
same date has concluded).

 

It is anticipated that the Managed Realisation will take approximately two
years but may take longer. The Board will, however, seek to return capital to
Shareholders at intervals as and when appropriate, with an initial return of
capital of approximately £1.0 million expected in July 2025.

 

The Proposals are conditional on the passing of the Resolutions by
Shareholders at the General Meeting. Shareholders should read the whole of the
Circular and, in particular, the letter from the Chairman, which contains the
unanimous recommendation of the Directors that Shareholders vote in favour of
the Resolutions to be proposed at the General Meeting, the rights and
restrictions attached to B Shares set out in Part 3 and the risk factors set
out in Part 4.

 

A copy of the Circular (incorporating the Notice of General Meeting) will be
submitted to the National Storage Mechanism and will shortly be available for
inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://url.avanan.click/v2/___https:/data.fca.org.uk/___.YXAxZTpzaG9yZWNhcDphOm86Yzg2ZjE3MmFhNjEwMzFjMDlkYTdlNjhiN2QzMDFmMjI6NjoxOWJjOjY4YTY4OTEzZGQxODg4MGE0OTdlZTMxNDFmNGJjNzEzNzY4MGY5MDU1NmNiZDU1Y2QzYWExMWU2ZTcwZWQ4YWQ6cDpUOk4#/nsm/nationalstoragemechanism)
. The Circular will also shortly be available for inspection on the Company's
website at www.lmscapital.com
(https://url.avanan.click/v2/___http:/www.lmscapital.com___.YXAxZTpzaG9yZWNhcDphOm86Yzg2ZjE3MmFhNjEwMzFjMDlkYTdlNjhiN2QzMDFmMjI6NjoyNDFmOjlhOWIyMTJlYmU3OTU5ZTI0NDE2NWEwYTVkYjU0NmRjZDM3YWQ5MTRmNjNiNDdmNWIwZDhjNjZlY2E3YTA1N2U6cDpUOk4)
.

 

 

 

For further information please contact:

 

LMS Capital plc
Nick Friedlos - Managing Director
0207 935 3555

 

Shore Capital, Broker
Gillian Martin, Daphne Zhang, Sophie Collins
0207 408 4050

 

 

 

EXPECTED TIMETABLE

 

 Latest time for receipt of Forms of Proxy and electronic appointments of                                           11:15 am on 12 May 2025
 proxies in respect of the General Meeting

 General Meeting                                                                                                    11:15 am on 14 May 2025

 Court Hearing (reduction of capital)                                                                               10 June 2025

 Expected effective date of reduction of capital (subject to registration by                                        30 June 2025
 Companies House) by

 

 

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