Last checked at 11 Oct 2007 16:24
Date: 11th October 2007
On behalf of: London Finance & Investment Group P.L.C. ("the Company")
For immediate release
London Finance & Investment Group P.L.C. Results of Annual General Meeting and Quarterly Update
The Annual General Meeting of the Company was held today and all resolutions were passed unanimously.
London Finance & Investment Group P.L.C. , the investment company, today provides a first quarter report on its investments.
In the three months to 30th September, net assets fell by 6% from 66p to 62p. This was primarily due to widespread declines in European stock markets and the decreases in the values of our strategic investments in Finsbury Food Group plc and Western Selection P.L.C.. The Company is currently trading at a 33% discount to its net asset value.
During the period, the Company invested ‚£429,000 in Western Selection Warrants.
In spite of current market volatility, the Board of the Company is confident that it will be able to produce satisfactory results for the year.
- ends -Enquiries to:Emma Kane
Redleaf Communications Tel: 020 7822 0200
Notes to Editors:
* London Finance is an investment company whose assets primarily consist of three 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., Marylebone Warwick Balfour Group Plc and Finsbury Food Group plc. Western Selection P.L.C. has strategic investments in Creston plc, Swallowfield plc, Northbridge Industrial Services plc and Industrial & Commercial Holdings P.L.C.,. The General Portfolio has material interests in Oil, Natural Resources, Pharmaceuticals and Healthcare, Food and Beverages and Banking.
LONDON FINANCE & INVESTMENT GROUP PLC