LMS Capital has announced its intention to return up to £40m to shareholders through a tender offer and repurchase of up to 29.98% of the ordinary shares of the Company. The proposed tender offer is the fourth made since the approval of the Company’s realisation strategy in November 2011 and will, if approved, bring the total returned to shareholders to £155m since the commencement of that strategy. The tender offer is available to qualifying shareholders on the register as at the close of 10 December 2015. The price will be calculated by dividing this adjusted net asset value by the number of ordinary shares in issue at the close of business on 11 December 2015. A general meeting is scheduled for 14 December to approve resolutions ion relation to the tender offer and, assuming these pass, the tender is expected to take place on 15 December 2015.
LMS proposes fourth tender to return up to $40m : LMS