In QuotedData’s morning briefing 27 December 2023:
- LMS Capital (LMS) announced the sale of its minority interest in Medhost. Net proceeds for LMS are estimated to be approximately $8.6m, of which $7.0 million will be paid cash at closing and $1.6 million by way of a promissory note that will be settled one year after closing and will accrue interest at 11.25% per annum. The net proceeds of $8.6 million are some $1.6 million in excess of the book value of Medhost at 30 September 2023. At current exchange rates this represents an increase of approximately £1.0 million. This announcement follows last week’s announcement of LMS’ acquisition of Castle View Retirement Village, Windsor with the intention of developing an investment platform in the retirement living sector.