| Tue 15 Nov 2011, 9:00 | | LNF - London Finance & Investment Group P.L.C - Lonfin reports on its |
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LNF
LOJM
LNF - London Finance & Investment Group P.L.C - Lonfin reports on its
performance to date.
London Finance & Investment Group P.L.C.
(Incorporated in England - No. 201151)
Code : LNF ISSN: GB0002994001
Interim Management Statement
LONFIN REPORTS ON ITS PERFORMANCE TO DATE.
In the period of four months to 31st October 2011, Lonfin`s net assets
per share, including investments at market value and the anticipated
net sale proceeds of the London investment property, have decreased by
5.1% from 35.0p to 33.2p. Whilst the value of our European
investments and the Strategic Investments fell, as did the main
European indices, we note that the value of the UK investments in our
General Portfolio rose by 2%, compared to a 4% fall in the FTSE 100.
The decline in the value of our Strategic Investments: Western
Selection P.L.C., and MWB Group Holdings Plc was partially offset by a
15% rise in the value of our holding in Finsbury Food Group plc.
As announced on 4th November, it is proposed that the London
investment property be sold, subject to approval by shareholders. The
circular explaining the proposal and including a notice of an
Extraordinary General Meeting will be posted soon.
The board of Lonfin notes with that the continued market turmoil
extant throughout the world, but especially in the bond and equity
markets of the heavily indebted countries of Europe, the outlook
remains unclear.
Enquiries to:
London Finance & Investment Group P.L.C.
Edward Beale
020 7448 8950
Additional 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.
United Kingdom
15 November 2011
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 15/11/2011 09:00:18 Produced by the JSE SENS Department.
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