Lms Capital Regulatory News (LMS)

4 January 2012

Board changes

On 25 November 2011, LMS Capital plc ("LMS" or "the Company") announced that it had agreed a process to reconstitute its Board and today the Company is pleased to announce that this has now been completed.

Neil Lerner and Martin Knight to join the Board

Neil Lerner and Martin Knight have been appointed as independent Non-Executive Directors with immediate effect and John Barnsley and David Verey have resigned from the Board. Richard Christou, an independent Non-Executive Director, has been appointed Chairman, while Robert Rayne continues as a Non-Executive Director. Neil Lerner has also been appointed Chairman of the Company's Audit Committee.

Neil Lerner is an experienced and commercially orientated accountant and Audit Committee Chair. He retired in September 2006 as Risk Management partner for KPMG where he had responsibilities for managing all aspects of professional risk. He continued until September 2009 on a part-time basis as Special Advisor to KPMG International's captive insurer. Since that date Neil has taken on a number of non-executive roles, including board positions at the Royal Brompton & Harefield NHS Foundation Trust, the RNLI and SOAS.

Martin Knight has held a number of project and advisory roles over the last 30 years. He was a director of Morgan Grenfell & Co Limited and subsequently became the principal adviser to the private wealth investment firm, South Audley Street Investments. He was a governor and council member of Imperial College from 1992 to 2010. Martin was the architect and remains Chairman of Imperial Innovations Group plc, the institutionally funded and publicly quoted vehicle for the exploitation of intellectual property emanating from the UK's leading research intensive universities, principally Imperial College. He is also a director of Chrysalis VCT plc and Toumaz Holdings Limited.

Neither Neil Lerner nor Martin Knight has any interest in shares in LMS; there is no other information required to be disclosed under Rule 9.6.13 of the Listing Rules.

Composition of the Board

Following these changes the Board now consists of Richard Christou (Chairman), Bernard Duroc-Danner, Martin Knight, Neil Lerner, Robert Rayne, Mark Sebba and Tony Sweet.

Now that the Special Committee of the Board, comprising Richard Christou, Robert Rayne and Mark Sebba, has completed this reconstitution, it has been dissolved.

ENDS

For further information please contact:

LMS Capital plc 020 7935 3555

Richard Christou, Chairman

Tony Sweet, Chief Financial Officer

Brunswick Group LLP 020 7404 5959

Simon Sporborg

Fiona Micallef-Eynaud

About LMS Capital

LMS Capital is an investment company focused on small to medium sized companies in our preferred sectors of consumer, energy and business services. Following a General Meeting on 30 November 2011, the Company is undertaking a realisation strategy which aims to achieve a balance between an efficient return of cash to Shareholders and optimising the value of the Company's investments.