REG-London Finance & Investment Group Plc: Proposed Return of Cash

London Finance & InvestmentAnnouncement

18/12/2024 07:15

London Finance & Investment Group PLC
(Incorporated in England with registered number 00201151)
LSE code: LFI
JSE code: LNF 
ISIN: GB0002994001
(“LonFin” or the “Company”)
 

18 December 2024

LONDON FINANCE & INVESTMENT GROUP PLC

Proposed cessation of the Company’s investment activities, return of cash
(the total being net asset value, less closure costs) to shareholders and the
cancellation of admission to trading on the London Stock Exchange and JSE
Limited

In the Company’s announcement of the final results for the year ended 30
June 2024, the Board of directors of the Company (the “Board”) stated that
it continued to pursue its current investment policy and would advise
shareholders of any proposed change.   Various considerations and analysis
including the rising cost of being a listed company have led to the Board’s
decision to dispose of its stock market investments (as announced on 5
November 2024) and to now propose to cease the Company’s investment
activities early in the New Year and to effect a return of cash (the total
being net asset value, less closure costs) of approximately 70p per share to
shareholders (“Return to Shareholders”).  

The Return to Shareholders is expected to be effected by means of a court
approved capital reduction and the proposals will include the cancellation of
admission to trading on the London Stock Exchange and the JSE Limited.
 Following completion of the proposals, the Board intends to undertake an
orderly winding up of the Company.

Details of these proposals will be set out in a circular to shareholders which
is expected to be published in January 2025 and which will contain a Notice of
General Meeting at which resolutions in relation to the proposals will be put
to shareholders for approval. 

The Board accepts responsibility for the contents of this announcement.

This announcement which contains inside information is made in accordance with
Article 19 of the UK Market Abuse Regulation ('MAR').

Enquiries to:

London Finance & Investment Group PLC
020 3709 8741

  United Kingdom
  18 December 2024

 Financial Adviser and Sponsor to London Finance & Investment Group PLC 
 Beaumont Cornish Limited 

 JSE Sponsor to London Finance & Investment Group PLC
 Questco Corporate Advisory Proprietary Limited



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