RE: Fall today - reason26 Jul 2023 23:04
Hello, first time posting - I was about to post the link to the IMC presentation but see the actual Questions & response are already up. I asked these two questions as was viewing this issue as a possibly significant risk, and at the least could lead to real uncertainty, to LCM's business and it was directly in relation to the matter for which we have this decision today. They did not answer the questions on the day of the presentation on 14th March 2023; I did follow up and these were subsequently answered in the recorded and uploaded Q&A.
The answer in relation to the first question is absolutely relevant and important however I do think the answer to the second question 'whether they had advised PI's or investors who participate in the funds' as to the how the case might affect LCM's business, is also of real importance. Patrick answered that they had not reported this matter as they did not perceive this as a risk. Given their line of work which is all based on quantitfying risk and the fact they will have access to the best advice, this answer made me far more comfortable.
That's not to say there isn't any risk and it's certainly appropriate for LCM to clarify the position ASAP but I think this part of the answer should also allay investors' concerns somewhat. In addition, on 17th March 2023 the Chairman and Patrick (CEO) purchased c. £1.2m and £111k of shares respectively at £0.71 per share.
Sorry if this is repetition but I wasn't sure the second question had been noted and as a shareholder I much appreciated this part of the response.
Best wishes,
Mike