REG - LMS Capital PLC - Statement re B Share issue

LMS CapitalAnnouncement

Yesterday 07:00

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RNS Number : 0674Q  LMS Capital PLC  08 July 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION UNDER THE UK'S MARKET ABUSE
REGULATION.  UPON PUBLICATION OF THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS
NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

8 July 2025

 

LMS Capital Plc

("LMS" or the "Company")

 

First Return of Capital

 

The Board of the Company is pleased to announce a proposed first return of
capital totalling £1,614,549.00 to Shareholders via a B Share Scheme. This
follows the Shareholders' approval of the Company's New Investment Policy for
Managed Realisation and the B Share Scheme on 14 May 2025, together with the
reduction of capital which was sanctioned by the court on 10 June 2025 and
registered with Companies House on 11 June 2025.

 

First Return of Capital

 

As stated in the circular to shareholders published on 24 April 2025 (the
"Circular"), the Board determined that, subject to approval of the Managed
Realisation it would be most expeditious to return capital to Shareholders at
appropriate intervals using a B Share Scheme. It was further stated that the
intention would be to return ca. £1 million. The Board is now pleased to
confirm that the first return of capital will be somewhat higher with
£1,614,549.00 being returned through the first B Share issue.

 

The first B Share issue comprises a bonus issue of two new B shares of 1 pence
each for each ordinary share held by Shareholders at 6:00 pm (London time) on
11 July 2025 ("Record Date") These B shares will immediately be redeemed by
the Company for cash and cancelled.

 

The redemption proceeds will equate to 2 pence per existing ordinary share in
the Company at the Record Date. Shareholders who hold ordinary shares on the
Record Date are expected to receive payment accordingly on or before 28 July
2025.

 

Shareholders are reminded that the issue of B Shares will not reduce the
number of the Company's ordinary shares in issue. However, following the issue
and redemption of B Shares, the Net Asset Value (NAV) (and NAV per ordinary
share) will be reduced by the total amount of capital returned. Consequently,
the share price is likely to reflect this reduction in NAV.

 

The Company will continue to realise value from its portfolio and will make
further returns of capital using the B Share Scheme as and when appropriate.
The Company is unable to specify the timing and exact amount of future
returns, as these will continue to depend on the realisation of the
investments in the Company's portfolio.

 

Terms used and not defined in this announcement have the meanings given to
them in the Circular.

 

Timetable

 

 Record                                                                                                                                                                                       6:00 pm on 11 July 2025
 Date
 Two B Shares issued for every Ordinary Share held at the Record                                                                                                                              14 July 2025
 Date
 Expected redemption and cancellation of B Shares                                                                                                                                             14 July 2025

 Ordinary Shares start trading ex-B Share entitlement (the "Ex-Date")                                                                                                                         8:00 am on 14 July 2025
 Despatch of payments to mandated accounts or cheques and CREST accounts                                                                                                                      By 28 July 2025
 credited in respect of proceeds of redemption of B Shares

 

 

 

 

For further information please contact:

 

LMS Capital plc
Nick Friedlos - Managing Director
0207 935 3555

 

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

 

 

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