LMS Capital PLC Net Asset Value Estimate as at 31 December 2017 (7263C)
January 24 2018 - 1:00AM
UK Regulatory
TIDMLMS
RNS Number : 7263C
LMS Capital PLC
24 January 2018
24 January 2018
LMS Capital plc
Net Asset Value Estimate as at 31 December 2017
LMS Capital plc (the "Company") is a listed Investment Company
focused on investing in private equity and illiquid asset classes.
The Company is managed by Gresham House Asset Management
Limited.
The Company has commenced the year-end valuation review process
which is based on the latest performance updates from portfolio
companies and third-party fund manager valuations. The Board
currently estimates that the year-end net asset value will be in
the region of GBP61 million (75p per share). This estimate reflects
information currently available to the Board on the performance and
prospects of individual investments in the Company's portfolio and
is subject to further evaluation as well as completion of the
annual audit.
The valuation methodology and policy adopted is consistent with
prior years and is in line with IPEV guidelines.
Realisation proceeds for the year ended 31 December 2017 were
GBP21.7 million and in August the Company fulfilled its commitment
to return capital to shareholders. It is now focused on
re-investing any future realisation proceeds in line with the new
investment policy. No new investments were made in the second half
of the year although there is a growing pipeline of opportunities
identified by the investment manager.
As well as seeking new investments, the Company continues to
focus on managing the cost base, improving investor communication,
and managing the existing portfolio of investments to ensure value
is optimised.
As previously indicated, the Board and investment manager
continue to evaluate strategic options for the Company which will
enable greater scale and will take advantage of the capabilities
within Gresham House.
The company expects to announce its audited results in
mid-March.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information please contact:
LMS Capital PLC 020 3837 6275
Martin Knight, Chairman
Gresham House Asset Management
Graham Bird, Investment Director 020 3837 6275
J.P. Morgan Cazenove
Michael Wentworth-Stanley 0207 742 4000
This information is provided by RNS
The company news service from the London Stock Exchange
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