LMS Capital is proposing to return up to £11 million to shareholders by way of tender offer and repurchase of up to 16.29% of the issued share capital of the Company at a price of 70p per Ordinary Share. The company says that the tender offer price represents a 5% discount to the 30 June 2017 NAV of 74p per Ordinary Share. And that a circular setting out the full details of the proposals and containing a Notice of General Meeting is being sent to Shareholders (it is also to be made available on the Company’s website at www.lmscapital.com).
The Tender Offer is available to Shareholders (other than certain overseas Shareholders) on the register as at the close of business on 10 August 2017. The implementation of the Tender Offer requires shareholders approve two resolutions and a general meeting is to be held on 11 August. If the resolutions are approved, the Tender Offer is expected to take place on 14 August 2017.
About LMS Capital
LMS Capital is an investment company focused on predominantly private equity investment into small to medium sized companies in our preferred sectors of consumer, energy and business services. Following a General Meeting on 30 November 2011, the Company is undertaking a realisation strategy which aims to achieve a balance between an efficient return of cash to Shareholders and optimising the value of the Company’s investments.
LMS Capital announces tender offer proposals : LMS