AGM Results & Interim Management Statement
October 28 2009 - 10:45AM
UK Regulatory
TIDMLFI
Date: 28th October 2009
On behalf of: London Finance & Investment Group P.L.C ("Lonfin" or
"Company")
London Finance & Investment Group P.L.C.
AGM results and Interim Management Statement
AGM Results
London Finance & Investment Group P.L.C. (LSE: LFI, JSE: LNF), the investment
company whose assets primarily consist of three Strategic Investments and a
General Portfolio, held its Annual General Meeting today and is pleased to
report that all resolutions were passed by the required majority.
Interim Management Statement
Lonfin today reports on its performance to date.
In the period of just under four months to 28th October 2008, our net assets,
including investments at market value, increased by 26.9% from 21.3p to 27.0p.
This was due to an improvement in the value of our strategic investments:
Western Selection P.L.C., Finsbury Food Group plc and MWB Group Holdings Plc
and an increase in the value of our general portfolio. We have recently
withdrawn GBP200,000 from our general portfolio and intend to use that to reduce
our debt. It is disappointing that the price of the Company's shares continues
to trade at a significant discount to the net asset value per share.
Despite the turbulence extant in the world equity and debt markets the recent
improvement in the prospects for investment companies is likely, in the
director's opinion, to continue.
Enquiries to:
London Finance & Investment GroupP.L.C.
Edward Beale 020 7448 8950
Notes to Editors:
? Lonfin is an investment company whose assets primarily consist of three
Strategic Investments and a General Portfolio. Strategic Investments are
significant investments in smaller UK quoted companies and these are
balanced by a General Portfolio, which consists mainly of investments in
major U.K. and European equities.
? Its strategic investments comprise: Western Selection P.L.C., MWB Group
Holdings Plc and Finsbury Food Group plc. Western Selection P.L.C. has
strategic investments in Creston plc, Swallowfield plc, Northbridge
Industrial Services plc and Hartim Limited. The General Portfolio has
material interests in Oil, Natural Resources, Pharmaceuticals and
Healthcare, Food and Beverages and Banking.
END
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