Result of AGM

Date:         28th November 2013                                             
                                                                             
On behalf of: London Finance & Investment Group P.L.C ("Lonfin" or "Company")
 

                   London Finance & Investment Group P.L.C.                    

                        Annual General Meeting results                         

 

AGM Results

London Finance & Investment Group P.L.C. (LSE: LFI, JSE: LNF), the investment
company whose assets primarily consist of two Strategic Investments and a
General Portfolio, held its Annual General Meeting today and is pleased to
report that all resolutions were passed by the required majority.

 

The proxy votes that would have been cast for each resolution, had a poll been
held, were as follows:

 

Resolution        For    Against      Abstain
                                     
    1       17,761,113       Nil          200
                                     
    2       17,741,113       200       20,000
                                     
    3       17,761,113       200          Nil
                                     
    4       17,761,113       200          Nil
                                     
    5       17,761,113       Nil          200
                                     
    6       17,761,113       200          Nil
                                     
    7       17,761,113       200          Nil
                                     

 

The Chairman presented a summary of investments showing net assets per share,
including investments at market value, and separately the net assets per share
including the underlying investments of Western Selection P.L.C. at market
value:

 

Summary of Investments

                                                                        
                                                       25 November      30 June        
                                                              2013         2013
                                                              £000         £000
                                                                               
Investment in associate at market value:                                       
                                                                               
Western Selection P.L.C.                                    4,323        3,930 
                                                                               
Strategic Investment at market value:                                          
                                                                               
Finsbury Food Group plc                                     6,030        5,490 
                                                                               
                                                        ----------   ----------
                                                                               
                                                           10,353        9,420 
                                                                               
General Equity Portfolio at market value                    5,800        5,601 
                                                                               
Tangible non-current assets                                     2            3 
                                                                               
Cash, bank balances and deposits                              185          116
                                                                               
Bank loans                                                   (800)        (650)
                                                                               
Other net (liabilities)/assets                               (170)          53 
                                                                               
Non-controlling interests                                     (79)         (81)
                                                                               
Deferred Tax                                                 (421)        (204)
                                                                               
                                                        ----------   ----------
                                                                               
Net assets, including investments at market value          14,870       14,258 
                                                                               
                                                            ======       ======
                                                                               
                                                                               
                                                                               
Net assets per share                                         47.7p        45.7p
                                                                               
                                                                               
                                                                               
Net assets per share, including the underlying                                 
investments of                                                                 
                                                                               
Western Selection P.L.C. at market value.                    58.0p        53.8p
                                                                               

 

 

Since our year ended 30th June 2013 our net assets per share, including
investments at market value have increased by 4.4% from 45.7p to 47.7p at 25th
November 2013.

 

We currently hold 29 blue chip stocks in the UK, Europe and the USA and our
strategic investments have performed well in the turbulent economic period with
the value of Western Selection P.L.C. rising by 10% and Finsbury Food Group Plc
rising by 10%.

 

The Board remains positive for the coming months.


 

Enquiries to:

 

London Finance & Investment Group P.L.C.              
                                                      
Lloyd Marshall                           020 7448 8950
                                                      

 

Notes to Editors:

● Lonfin is an investment company whose assets primarily consist of two        
  Strategic Investments and a General Portfolio.  Strategic Investments are    
  significant investments in smaller UK quoted companies and these are balanced
  by a General Portfolio, which consists mainly of investments in major U.K.   
  and European equities.                                                       
                                                                               
                                                                               
                                                                               
● Its strategic investments comprise: Western Selection P.L.C. and Finsbury    
  Food Group plc.  Western Selection P.L.C. has strategic investments in       
  Creston plc, Swallowfield plc, Northbridge Industrial Services plc and Hartim
  Limited.  The General Portfolio has material interests in Oil, Natural       
  Resources, Pharmaceuticals & Healthcare and Food & Beverages.