Last checked at 
3 Jul 2013 07:00
3 July 2013
LMS Capital plc (the "Company")
Tender Offer
Further to the announcement made by the Company on 13 June 2013, the Company has today published a circular (the "Circular") to Shareholders setting out details of a tender offer to return up to £35 million to shareholders (the "Tender Offer").
The Tender Offer is available to Shareholders (other than certain overseas Shareholders) on the Register as at the close of business on 22 July 2013. Shareholders may tender more, equal to or less than their Basic Entitlement, though tenders in excess of a Shareholder's Basic Entitlement will only be accepted to the extent that other Shareholders tender less than their Basic Entitlement and will be satisfied on a pro rata basis.
The Tender Offer Price will be calculated on 29 July 2013 based on the published unaudited net asset value of the Company as at 30 June 2013 adjusted, in a manner consistent with the Company's accounting policies, to take into account price movements in quoted investments, changes in foreign currency rates of exchange and purchases and sales of investments between 30 June 2013 and the close of business on 28 July 2013.
The Tender Offer Price will be calculated by dividing this adjusted net asset value by the number of Ordinary Shares in issue at the close of business on 28 July 2013.
A General Meeting will be held at 11.30 a.m. on Monday 29 July 2013 at Durrants Hotel, George Street, London W1H 5BJ to seek the Shareholder approval required to implement the Tender Offer. If such approval is obtained at the General Meeting, the Tender Offer is expected to take place on 30 July 2013. Full details of the Tender Offer timetable, mechanics and settlement procedure are set out in the Circular.
The timetable of the Tender Offer is summarised below:
Tender Offer opens | 8 July 2013 |
Latest time for receipt of Tender Forms and TTE instructions in relation to the Tender Offer | 1.00 p.m. on 22 July 2013 |
Tender Offer Record Date | 6.00 p.m. on 22 July 2013 |
Latest time for receipt of Forms of Proxy | 11.30 a.m. on 27 July 2013 |
General Meeting | 11.30 a.m. on 29 July 2013 |
Announcement of results of the General Meeting | 29 July 2013 |
Announcement of results of the Tender Offer | 8.00 a.m. on 30 July 2013 |
Terms used and not defined in this announcement bear the meaning given to them in the Circular.
Copies of the following documents will be submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM:
·; Circular of the Company dated 3 July 2013 including Notice of General Meeting; and
·; Form of Proxy for General Meeting on 29 July 2013.
A copy of the Circular and Notice of General Meeting are now available to view on the Company's website at www.lmscapital.com.
For further information please contact:
LMS Capital plc | 020 7935 3555 |
Nick Friedlos, Executive Director | |
Tony Sweet, Chief Financial Officer | |
J.P. Morgan Cazenove | 020 7742 4000 |
Michael Wentworth-Stanley | |
MHP Communications | 0203 128 8794/ 0203 3128 8204 |
Tim McCall | |
Katie Hunt | |