| Wed 10 Nov 2010, 15:00 | | LNF - London Finance & Investment Group P.L.C - Results of AGM and interim |
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LNF
LOJM
LNF - London Finance & Investment Group P.L.C - Results of AGM and interim
management statement
London Finance & Investment Group P.L.C
(Incorporated in England - No. 201151)
Code: LNF ISSN: GB0002994001
RESULTS OF THE ANNUAL GENERAL MEETING AND INTERIM MANAGEMENT STATEMENT
AGM Results
London Finance & Investment Group P.L.C. (LSE: LFI, JSE: LNF), the investment
company whose assets primarily consist of three Strategic Investments and a
General Portfolio, held its Annual General Meeting today and is pleased to
report that all resolutions were passed by the required majority.
Interim Management Statement
Lonfin today reports on its performance to date.
In the period of four months to 31st October 2010, our net assets, including
investments at market value, have increased by 21% from 23.3p to 28.3p. This
was due to an increase of 29% in the value of our strategic investments: Western
Selection P.L.C., Finsbury Food Group plc and MWB Group Holdings Plc and an
increase of 10% in the value of our general portfolio. We have recently
withdrawn GBP200,000 from our general portfolio and have used that to reduce our
debt. It is disappointing that the price of the Company`s shares continues to
trade at a significant discount to the net asset value per share.
Despite the turbulence extant in the world equity and debt markets the recent
improvement in the prospects for investment companies is likely, in the
director`s opinion, to continue.
Enquiries to:
London Finance & Investment Group P.L.C.
Edward Beale
020 7448 8950
Additonal information:
Lonfin 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., MWB Group Holdings
Plc and Finsbury Food Group plc. Western Selection P.L.C. has strategic
investments in Creston plc, Swallowfield plc, Northbridge Industrial Services
plc and Hartim Limited. The General Portfolio has material interests in Oil,
Natural Resources, Pharmaceuticals & Healthcare and Food & Beverages.
Johannesburg
10 November 2010
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 10/11/2010 15:00:04 Produced by the JSE SENS Department.
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