REG-London Finance & Investment Group Plc: General Meeting Result

London Finance & InvestmentAnnouncement

28/03/2025 14:15

 

28 March 2025

 

LONDON FINANCE & INVESTMENT GROUP PLC

(Incorporated in England with registered number 00201151)

LSE code: LFI

JSE code: LNF

ISIN: GB0002994001

("Lonfin" or the "Company")

 

 

Result of General Meeting

 

Lonfin announces that, at a General Meeting held earlier today, Resolutions to
approve the withdrawal of the admission of its Ordinary Shares to trading on
the London Stock Exchange and to the Official List and, subject to High Court
approval, the approval of Capital Reduction and Return of Capital  to
simultaneously return capital to shareholders and reduce the number of
Ordinary Shares in issue, were duly passed. 

 

The total number of the Company's ordinary shares in issue is 31,287,479.
Proxy appointments were received from holders of 10,306,214 ordinary shares
amounting to 32.94% of the Company's issued ordinary share capital.

 

On a poll vote taken at the General Meeting, the poll votes, including proxy
votes (10,306,214) and votes from shareholders in attendance at the meeting
(0), were as follows:

 

 Resolution  For                          Against  Withheld  Abstained  
             Number      % of votes cast  Number   Number    Number     
 1           10,293,667  99.88            1,225    0         11,322     
 2           10,304,989  99.99            1,225    0         0          

 

High Court Approval of the Capital Reduction

The Company will now apply to the High Court for approval of the Capital
Reduction and the Return of Capital and it expects to be able to satisfy the
High Court that the interests of the Company's creditors will not be adversely
affected.

If the High Court gives its approval and makes an order in this respect, The
Capital Reduction and Return of Capital will take effect once the High Court
order has been registered with the Registrar of Companies.  The High Court
order is expected to be submitted to the Registrar of Companies on Friday, 2
May 2025 and for the Capital Reduction and Return of Capital to be effective
from that date.

Withdrawal of admission to trading on the London Stock Exchange

The Company's withdrawal of admission to trading on the London Stock Exchange
and from the Official List will occur at 8.00 a.m. on Friday, 2 May 2025, with
the last day of dealings in the Company's Ordinary Shares on the London Stock
Exchange being Wednesday, 30 April 2025.

Termination of JSE Listing

Following implementation of the Capital Reduction and Return of Capital, the
Company will no longer be in compliance with the JSE's public shareholder
spread requirements as set out in the JSE Listing Requirements and will no
longer be eligible for listing on the JSE.  Accordingly, steps will be taken
to terminate the JSE Listing. It is expected that the earliest date for the
termination of the Listing will be Friday, 9 May 2025 with the last day of
trade in the Company's Ordinary Shares on the JSE being Friday, 2 May 2025.

Capitalised terms used in this Announcement shall, unless otherwise defined,
have the same meanings as set out in the Company's Announcement of the
Proposals on 26/27 February 2025.

The salient dates for implementation of the Withdrawal, Return of Capital and
Termination of JSE listing are as follows:

 Directions hearing at High Court                                                                                                      Wednesday, 16 April  
 Advertisement of Capital Reduction posted in newspaper, as directed by the High Court                                                 Tuesday, 22 April    
 Open court hearing at High Court                                                                                                      Tuesday, 29 April    
 Announce Finalisation information, Capital Reduction Payment amount and currency conversion rate on SENS                              Tuesday, 29 April    
 Last day to trade in the Company's Ordinary Shares on the London Stock Exchange                                                       Wednesday, 30 April  
 Suspension of trading of the Company's Ordinary Shares on the London Stock Exchange                                                   Thursday, 1 May      
 Cancellation of trading of the Company's Ordinary Shares on the London Stock Exchange at 8.00 am UK time                              Friday, 2 May        
 Last day to trade in the Company's Ordinary Shares on the JSE Limited                                                                 Friday, 2 May        
 Register the Capital Reduction at Companies House UK                                                                                  Friday 2 May         
 Capital Reduction Record Date at 6.00 pm UK time                                                                                      Friday, 2 May        
 Effective Date for the Capital Reduction                                                                                              Friday 2 May         
 Suspension of trading of the Company's Ordinary Shares on the JSE Limited at 9.00 am SA time on                                       Monday, 5 May        
 Capital Reduction Record Date at 6.00 pm SA time                                                                                      Wednesday, 7 May     
 Distributions made to relevant Shareholders under the Return of Capital from the Effective Date with the last date for payment being  Thursday, 8 May      
 Earliest date for Termination of listing of the Company's Ordinary Shares on the JSE Limited                                          Friday, 9 May        

 

Notes:

(1)     All of the above timings refer to London time unless otherwise
stated.

(2)     The dates and timing of the events in the above timetable may be
subject to change.

(3)     If any of the above times or dates should change, the revised
times and/or dates will be notified by an announcement through an RIS and an
announcement on SENS.

 

Ordinary Share certificates on the South African register may not be
Dematerialised or re-materialised between Monday, 5 May 2025 and Wednesday, 7
May 2025, both days inclusive and Ordinary Shares may not be transferred
between the registers in London and South Africa from Tuesday, 29 April 2025
to Friday, 2 May 2025

 

The Independent Directors accept responsibility for the contents of this
announcement.

 

Enquiries:

 

 London Finance & Investment Group PLC                                                       Tel: +44 (0) 20 3709 8740                             
 Beaumont Cornish Limited Roland Cornish/Felicity Geidt  Questco Corporate Advisory PTY Ltd  Tel: +44 (0) 20 7628 3396   Tel: +27 (0) 82 786 3537  
                                                                                                                                                   

 

 



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