Last checked at 
12 Mar 2013 13:20
12 March 2013
LMS Capital plc
Sale of Apogee Corporation Limited ("Apogee") and
Board changes
Sale of Apogee
LMS Capital plc ("LMS Capital" or "the Company") is pleased to report that it has sold its interest in Apogee, one of the UK's leading suppliers of digital document solutions, for cash consideration of £16 million. This represents a 2.1 times return on cash invested and an IRR of 30% since acquisition in 2010. The book value of this investment at 30 June 2012 was £13.5 million.
Board changes
Given the reducing size of the Company following the successful commencement of the realisation strategy and the consequent need to reduce overheads, Richard Christou (the current Chairman) and Mark Sebba have decided not to stand for re-election to the Board at the forthcoming Annual General Meeting. Martin Knight has agreed to take over as Chairman from the conclusion of the Annual General Meeting.
The Company expects to announce its preliminary results for the year ended 31 December 2012 on Monday 18 March.
For further information please contact:
LMS Capital plc 020 7935 3555
Nick Friedlos, Director
Tony Sweet, Chief Financial Officer
J.P. Morgan Cazenove 020 7742 4000
Michael Wentworth-Stanley
MHP Communications 020 3128 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 to medium sized companies in the consumer, energy and business services sectors.
www.lmscapital.com