Date: 28th November 2013
On behalf of: London Finance & Investment Group P.L.C ("Lonfin" or "Company")
London Finance & Investment Group P.L.C.
Annual General Meeting results
AGM Results
London Finance & Investment Group P.L.C. (LSE: LFI, JSE: LNF), the investment
company whose assets primarily consist of two 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.
The proxy votes that would have been cast for each resolution, had a poll been
held, were as follows:
Resolution For Against Abstain
1 17,761,113 Nil 200
2 17,741,113 200 20,000
3 17,761,113 200 Nil
4 17,761,113 200 Nil
5 17,761,113 Nil 200
6 17,761,113 200 Nil
7 17,761,113 200 Nil
The Chairman presented a summary of investments showing net assets per share,
including investments at market value, and separately the net assets per share
including the underlying investments of Western Selection P.L.C. at market
value:
Summary of Investments
25 November 30 June
2013 2013
£000 £000
Investment in associate at market value:
Western Selection P.L.C. 4,323 3,930
Strategic Investment at market value:
Finsbury Food Group plc 6,030 5,490
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10,353 9,420
General Equity Portfolio at market value 5,800 5,601
Tangible non-current assets 2 3
Cash, bank balances and deposits 185 116
Bank loans (800) (650)
Other net (liabilities)/assets (170) 53
Non-controlling interests (79) (81)
Deferred Tax (421) (204)
---------- ----------
Net assets, including investments at market value 14,870 14,258
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Net assets per share 47.7p 45.7p
Net assets per share, including the underlying
investments of
Western Selection P.L.C. at market value. 58.0p 53.8p
Since our year ended 30th June 2013 our net assets per share, including
investments at market value have increased by 4.4% from 45.7p to 47.7p at 25th
November 2013.
We currently hold 29 blue chip stocks in the UK, Europe and the USA and our
strategic investments have performed well in the turbulent economic period with
the value of Western Selection P.L.C. rising by 10% and Finsbury Food Group Plc
rising by 10%.
The Board remains positive for the coming months.
Enquiries to:
London Finance & Investment Group P.L.C.
Lloyd Marshall 020 7448 8950
Notes to Editors:
● Lonfin is an investment company whose assets primarily consist of two
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. 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.