LONDON FINANCE & INVESTMENT GROUP PLC - Disposal of shares in Finsbury Food Group plc
October 12 2015 - 11:18AM
PR Newswire (US)
12 October
2015
London Finance
& Investment Group P.L.C.
(‘Lonfin’)
Disposal of shares
in Finsbury Food Group plc (“Finsbury”)
To satisfy market demand and increase the liquidity in
Finsbury’s shares, Lonfin announces that on 12 October 2015, Lonfin Investments Limited (a
subsidiary of Lonfin) sold 2 million shares in Finsbury, at a price
of 100 pence per share, reducing its
holding to 8 million shares, which represents 6.25% of the Finsbury
issued share capital. Lonfin has been an investor in Finsbury
since its inception and remains a committed investor in
Finsbury.
Sale proceeds of £2 million will be used to eliminate debt in
the short term, and will be reinvested in support of Lonfin’s
business model in due course. The profit realised on sale is
£385,000 relative to the carrying value of this investment at 30th
June 2015. In addition the sale realises £1,025,000 of the
unrealised profits included in the financial accounts at
30th June 2015.
Enquiries:
London Finance & Investment Group P.L.C.
Telephone: 020 7796 9060
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