Professional Client Debt (8645N)
September 08 2011 - 4:11AM
UK Regulatory
TIDMLCG
RNS Number : 8645N
London Capital Group Holdings PLC
08 September 2011
LONDON CAPITAL GROUP HOLDINGS PLC
("LCG", the "Company" or the "Group")
Professional Client Debt
Thursday 8 September 2011
As previously announced, a professional client debt of GBP1.4m
arose in H1'10. The Company is pleased to announce that it has
resolved its differences with the party involved. The settlement
will result in an exceptional expense of GBP0.4m being recognised
in H2'11.
Commenting on the outcome, Simon Denham, Chief Executive,
said:
"We are pleased with the significant recovery we have made of
the amount owing and are happy that this matter is now behind us.
"
For further information, please contact:
www.londoncapitalgroup.com
London Capital Group Holdings plc 020 7456 7000
Simon Denham, Chief Executive
Siobhan Moynihan, Group Finance Director
Smithfield Consultants 020 7360 4900
John Kiely, Gemma Froggatt
Cenkos Securities plc
Nick Wells 020 7397 8900
Notes to Editors:
London Capital Group Holdings plc (hereafter "LCGH plc" or "LCG"
or "London Capital Group" or "the Group") is a rapidly growing
financial services company offering online trading services.
London Capital Group Limited (LCG Ltd), a wholly owned trading
subsidiary of LCGH plc, is authorised and regulated by the
Financial Services Authority. Its core activity is the provision of
spread betting and CFD products on the financial markets to retail
clients under the trading name Capital Spreads and Capital CFDs.
Its other divisions provide online foreign exchange trading
services to institutional and professional clients and also
institutional derivatives broking. LCG Ltd is one of the leading
providers of white label financial spread trading platforms and its
white label partners include TD Waterhouse, TradeFair, Bwin.Party,
and Saxo Bank. Prospreads.com is authorised and regulated by the
Financial Services Commission in Gibraltar and provides spread
betting products on financial markets to professional clients.
Capital CFDs (Australia) is a trading name of London Capital
Group Pty Limited, a wholly owned subsidiary of LCGH plc, and is
regulated by the Australian Securities and Investments
Commission.
LCG Ltd has a European passport and is a member of the London
Stock Exchange. LCG Ltd also has access to international markets
through its global clearing relationships.
LCGH plc is listed on the London Stock Exchange's AIM market.
LCG is included in the General Financial sector (8770) and
Speciality Finance sub sector (8775) and has a RIC code of
LCG.L.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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