London Capital Group Holdings PLC Statement on Swiss Franc movement (3731C)
January 16 2015 - 5:25AM
UK Regulatory
TIDMLCG
RNS Number : 3731C
London Capital Group Holdings PLC
16 January 2015
16 January 2015
LONDON CAPITAL GROUP HOLDINGS PLC
("London Capital Group", "LCG", the "Company" or the
"Group")
Statement on Swiss Franc movement
LCG maintains minimal exposure
Following yesterday's announcement by the Swiss National Bank,
which resulted in extreme movement in the value of the Swiss Franc,
and a sudden reduced liquidity in the Swiss Franc foreign exchange
market, London Capital Group provides an update on the financial
impact to the Group. The impact on the Company's balance sheet from
market and credit exposure will be dependent on the Company's
ability to recover client debts, but in total it will not exceed
GBP1.7 million.
All clients' positions were closed at a more beneficial level
than the Company could close its own exposure.
The Group is well capitalised with a strong balance sheet upon
which the recent events relating to the Swiss Franc has had no
material impact. LCG will publish its results for the year ended 31
December 2014 on 25 March 2015.
ENDS
For further information, please contact:
Morgan Rossiter
James Rossiter/ Richard Morgan Evans
0203 195 3240
Cenkos Securities plc
Nicholas Wells
Callum Davidson
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 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 Conduct Authority. Its core activity is the provision of
spread betting and CFD products on the financial markets to retail
clients under the trading names Capital Spreads, Capital CFDs and
LCG MT. Its other division provides online foreign exchange trading
services to institutional and professional clients. LCG Ltd is one
of the leading providers of white label financial spread trading
and CFD platforms and its white label partners include TD Direct
Investing, Bwin.party, and Saxo Bank.
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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