London Finance & Investment Group P.L.C - Update o
LNF
LOJM
London Finance & Investment Group P.L.C - Update on Strategic Investments
London Finance & Investment Group P.L.C.
(Incorporated in England - No. 201151)
Code: LNF & ISIN: GB0002994001
Update on Strategic Investments
Further to the announcement made by Lonfin on 29th September 2006, after
the Company"s AGM, we are pleased to report on recent developments with two
of the Company"s Strategic Investments
As advised in that announcement, Lonfin accepted the tender offer made by
Marylebone Warwick Balfour Group plc ("MWB") in respect of 1,000,000 MWB
shares. As a result of the successful tender Lonfin received GBP2,080,000
in respect of those 1,000,000 MWB shares and now holds 2,000,000 MWB
shares.
A portion of the funds received from MWB have been used to exercise
2,800,000 warrants in Finsbury Food Group plc ("Finsbury Food") and the
balance will be re-invested in the General Portfolio. As a result of this
exercise Lonfin now holds 7,800,000 shares in Finsbury Food, representing
29.7% of Finsbury Food"s issued share capital. Lonfin holds a further
200,000 warrants in Finsbury Food and intends to exercise them in 2007.
David Marshall, the Chairman of Lonfin and Deputy Chairman of Finsbury Food
said:
"We are happy to be able to take this opportunity to increase Lonfin"s
investment in Finsbury Food and support their plans for future growth. Our
investments in both MWB and Finsbury Food have performed strongly and we
continue to seek further similar investments."
Enquiries:
Mark Hodgson
City Group P.L.C.
Company Secretaries
30 City Road
London, EC1Y 2AG
Telephone: 0944 20 7448 8950
Fax: 0944 20 7638 9426
15th November 2006
Sponsor: Imara Corporate Finance South Africa (Pty) Ltd
Date: 15/11/2006 11:00:24 AM Produced by the JSE SENS Department
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