AGM Statement & Interim Management Statement
November 10 2010 - 8:01AM
UK Regulatory
TIDMLFI
Date: 10th November 2010
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 four months to 31st October 2010, our net assets, including
investments at market value, have increased by 21% from 23.3p to 28.3p. This
was due to an increase of 29% in the value of our strategic investments:
Western Selection P.L.C., Finsbury Food Group plc and MWB Group Holdings Plc
and an increase of 10% in the value of our general portfolio. We have recently
withdrawn GBP200,000 from our general portfolio and have used that to reduce our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 & Healthcare
and Food & Beverages.
END
London Finance & Investm... (LSE:LFI)
Historical Stock Chart
From May 2024 to Jun 2024
London Finance & Investm... (LSE:LFI)
Historical Stock Chart
From Jun 2023 to Jun 2024