AGM Statement

RNS Number : 1028W

LMS Capital PLC

06 June 2008

 

6 June 2008

LMS Capital plc

AGM statement

LMS Capital plc ('LMS Capital' or 'the Company') has issued the following statement ahead of the Annual General Meeting of the Company which is being held today.

We have been active this year on a number of fronts including realisations, acquisitions and investments. The highlights of 2008 to date include the following:

• We successfully sold Energy Cranes International Limited to Close Brothers Private Equity for net proceeds of £83 million, reflecting an internal rate of return of 40%;

• Since the beginning of the year the value of our new quoted investments made in the Energy sector increased in line with growing demand in the sector. We currently have around 20% of our portfolio in the Energy sector; 

• In April we committed €8 million (£6.3 million) to the Simmons Parallel Energy Fund, which will focus on investments in the Energy sector outside the USA;

• Cityspace Limited acquired Kizoom Limited, which strengthens its position in the provision of real time transport information to mobile users. Other acquisition opportunities are being considered;

• Looking ahead, we continue to see a steady number of investment opportunities and deal flow remains strong.

Commenting on the Company's performance to date in 2008, Robert Rayne, Chief Executive Officer, said: 'After a decade of exceptional liquidity and growth, the credit crunch has resulted in a more uncertain business environment. Despite the challenges this presents, LMS Capital is well positioned. We have significant cash and liquid resources and no debt and are able to move quickly to take advantage of investment opportunities.'

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For further information please contact:

LMS Capital plc      Robert Rayne, Chief Executive Officer Martin Pexton, Managing Director Tony Sweet, Chief Financial Officer	020 7935 3555
Arbuthnot Securities Limited Alastair Moreton	020 7012 2000
Brunswick Group LLP Simon Sporborg Leonora Pou Oliver Hughes	020 7404 5959

About LMS Capital 

LMS Capital plc is an independent investment company whose shares are traded on AIM. The investment portfolio comprises investments in both the US and UK, with a spread of early stage and second round technology investments, development capital and mature company buy-outs and some listed securities. 

www.lmscapital.com

 

END

 

 

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