Result of Tender offer

30 July 2013

                        LMS Capital plc (the "Company")                        

                            Results of Tender Offer                            

The Company today announces the results of the Tender Offer set out in the
circular published by the Company on 3 July 2013 (the "Circular") which closed
on 22 July 2013, with shareholder approval being given at a general meeting of
the Company held on 29 July 2013.

 

The Tender Offer Price was determined to be 90 pence and therefore the Basic
Entitlement is 17.2%. The Tender Offer Price was set on 29 July 2013.

 

140,575,258 Ordinary Shares were validly tendered under the Tender Offer. All
valid tenders will be satisfied in full up to the Basic Entitlement, and,
following application of the scale-back mechanism (as set out in the Circular),
approximately 2.1% of the Ordinary Shares validly tendered in excess of the
Basic Entitlement will also be satisfied. After application of the scaling
provisions, 38,888,738 Ordinary Shares will therefore be purchased. The total
value of all Ordinary Shares purchased is £35 million.

 

It is anticipated that the proceeds payable to the Company's Qualifying
Shareholders for the certificated Ordinary Shares purchased under the Tender
Offer will be despatched in the form of a cheque during the week commencing 5
August 2013 and that CREST account holders will have their CREST accounts
credited during the same week.

 

As set out in the Circular, the Ordinary Shares will be purchased by J.P.
Morgan Cazenove pursuant to the Tender Offer and the Company will buy-back such
Ordinary Shares from J.P. Morgan Cazenove. The Company intends to cancel such
Ordinary Shares, reducing its total issued share capital from 226,244,974
Ordinary Shares to 187,356,236 Ordinary Shares (of which no Ordinary Shares are
held in treasury).

 

Capitalised terms used in this announcement have the same meaning as ascribed
to them in the Circular.

 

Enquiries:

LMS Capital plc                                                 0207 935 3555
Nick Friedlos, Director
Tony Sweet, Chief Financial Officer

J.P. Morgan Cazenove                                            0207 742 4000
Michael Wentworth-Stanley

MHP Communications                                              0203 128 8100
Tim McCall
Katie Hunt

 

About LMS Capital

LMS Capital is an investment company which, following a General Meeting on 30
November 2011, is undertaking a realisation strategy with the aim of achieving
a balance between an efficient return of cash to shareholders and optimising
the value of the Company's investments. Its investment portfolio consists of
small and medium sized companies in the consumer, energy and business service
sectors.

 

www.lmscapital.com