(LFI) London Finance & Investment
Summary
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| 22-12-11 | PRN |
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Date: 22nd December 2011 On behalf of: London Finance & Investment Group P.L.C ("Lonfin") London Finance & Investment Group P.L.C. General Meeting 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 a General Meeting on Wednesday 21st December 2011 and is pleased to report that the resolution to approve the sale of the investment property was passed. The Directors expect the sale to be completed in the next two weeks. The proxy votes that would have been cast for the resolution, had a poll been held, were as follows: Resolution For Against Abstain 1 21,839,292 845 Nil Enquiries to: London Finance & Investment GroupP.L.C. Lloyd Marshall 020 7448 8950 Notes to Editors: ● 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 & Gas, Industrials, Personal Care & Household, Food & Beverages and Tobacco. END More |
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| 15-12-11 | PRN |
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NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS This form is intended for use by an issuer to make a RIS notification required by DR 3.3 (1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24. (2) An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24. (3) An issuer making a notification in respect of options granted to a director /person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24. (4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24. Please complete all relevant boxes should in block capital letters. 1. Name of the issuer 2. State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R; (ii) a disclosure made in accordance with LR 9.8.6 R(1), or; (iii) a disclosure made in accordance with section 793 of the Companies act (2006) LONDON FINANCE & INVESTMENT GROUP DTR 3.1.2 R P.L.C. 3. Name of person discharging 4. State whether notification relates managerial responsibilities/ to a person connected with a person director discharging managerial responsibilities/director named in 3 and identify the connected person MR. D.C. MARSHALL AND MR. J.M. N/A ROBOTHAM 5. Indicate whether the notification 6. Description of shares (including is in respect of a holding of the class), debentures or derivatives person referred to in 3 or 4 or financial instruments relating above or in respect of a to shares non-beneficial interest NON-BENEFICIAL INTEREST OF THE SHARES OF 5P EACH TWO DIRECTORS 7. Name of registered shareholders 8 State the nature of the transaction (s) and, if more than one, the number of shares held by each of them LYNCHWOOD NOMINEES LIMITED AC REMOVAL OF SHARES FROM SOUTH 2006420 AFRICAN REGISTER TO UK REGISTER 9. Number of shares, debentures or 10. Percentage of issued class acquired financial instruments relating to (treasury shares of that class shares acquired should not be taken into account when calculating percentage) 240,000 0.8% 11. Number of shares, debentures or 12. Percentage of issued class disposed financial instruments relating to (treasury shares of that class shares disposed should not be taken into account when calculating percentage) 13. Price per share or value of 14. Date and place of transaction transaction ZAR 2.60 15 DECEMBER 2011 SOUTH AFRICA 15. Total holding following 16. Date issuer informed of transaction notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) MR. MARSHALL - NON BENEFICIAL 15 DECEMBER 2011 INTEREST - 10,589,693 (NO CHANGE) - 33.9% MR. ROBOTHAM - NON-BENEFICIAL INTEREST - 11,437,474 - 36.6% If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes 17 Date of grant 18. Period during which or date on which it can be exercised 19. Total amount paid (if any) for 20. Description of shares or grant of the option debentures involved (class and number) 21. Exercise price (if fixed at time 22. Total number of shares or of grant) or indication that debentures over which options held price is to be fixed at the time following notification of exercise 23. Any additional information 24. Name of contact and telephone number for queries MR J.M. HODGSON 020 7448 8950 Name and signature of duly authorised officer of issuer responsible for making notification MR J.M. HODGSON __________________________________________________________ Date of notification 15 DECEMBER 2011 END More |
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| 29-11-11 | PRN |
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29 November 2011 London Finance & Investment Group P.L.C. ("LFIG" or the "Company") Posting of Class 1 Circular in connection with Proposed Disposal of Investment Property Further to the announcement made on 4 November 2011, the Company is pleased to announce that it has posted a Class 1 Circular to Shareholders (the "Circular") on Monday 28th November 2011 seeking Shareholder approval for the disposal of the Company's property in Rutland Gate, Knightsbridge, London (the `Property') for a cash consideration of £2.625 million (the "Disposal"). A notice of General Meeting is set out at the end of the Circular convening a General Meeting of the Company to be held at 30 City Road, London EC1Y 2AG at 3.30 p.m. on 21 December 2011. The Circular is available from the offices of the Company and from its website, www.city-group.com. The Circular includes the following additional disclosure in relation to the financial effects of the Disposal and also clearly sets out the Investment Policy. Subject to Shareholder approval, the expected cash proceeds of the Disposal, net of transaction costs and tax will be £2,397,000, representing 34.9 per cent. of the Company's market capitalisation as at 25 November 2011, the last practicable date prior to the publication of this Document. The cash proceeds of the Disposal will be held on the Company's balance sheet as cash and cash equivalents pending reinvestment in line with the Company's investment policy, as set out below. The effect on earnings will be that the Company will no longer receive annual rental income from the Property of £53,000 per annum; this will be offset to the extent that a return can be made on new investments and the Net Cash Proceeds pending investment. Investment Policy The Company's investment policy is to invest in a range of "strategic" investments, a "general portfolio" consisting primarily of highly liquid stock market investments, both in equity instruments and bonds, and, at the Board's discretion, `other investments', typically property and other physical assets. This investment policy is designed to achieve the Company's objectives of capital growth in real terms over the medium term, while maintaining a progressive dividend policy. Both "strategic" and "general portfolio" investments can be in any industry sector. "Strategic" investments are significant minority positions in UK small cap companies which can be either quoted or unquoted; to diversify risk, the policy is to maintain a number of such investments. Most such investments will be in shares of companies that are publicly traded but investments can also be made in publicly traded and untraded debt or equity instruments of companies that are strategic investments. The "general portfolio" aims to further diversify risk through a spread of investments and a target of between 20 and 30 holdings in some of the largest European quoted companies. The intention is for between 30 per cent. and 70 per cent. of the overall investment portfolio with a maximum limit of 80 per cent. to be in "strategic" investments at the point of investment, with the balance of the portfolio, net of "other investments", to be in the "general portfolio". "Other investments" will be limited to 20 per cent. of the overall value of the investment portfolio, measured at the point of investment. No one "strategic investment" or "other investment" will represent more than 30 per cent. and 20 per cent. respectively of the value of all investments at the time of making such investment and no one "general portfolio" investment will represent more than 10 per cent. of the value of the "general portfolio" at the time of such investment. Within these parameters, changes in strategic and other investments are decided on by the Board and changes to the general portfolio are decided on by the Board or, between Board meetings, by an Investment Committee of the Board. The investment guidelines within which the Investment Committee operates allow the Investment Committee discretion within the parameters set by the Investment Policy. The investment mix and level of borrowings are reviewed at each board meeting. The Company's gearing is limited at or below 70 per cent. of the total value of investments. Enquiries: London Finance & Investment Group P.L.C. Lloyd Marshall Tel: 020 7448 8950 Beaumont Cornish Limited, Sponsor Roland Cornish Tel: 0207 628 3396 END More |
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| 23-11-11 | PRN |
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Date: 23rd November 2011 On behalf of: London Finance & Investment Group P.L.C. London Finance & Investment Group P.L.C. Annual General Meeting 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. The proxy votes that would have been cast for each resolution, had a poll been held, were as follows: Resolution For Against Abstain 1 17,553,119 92,717 Nil 2 17,553,119 92,717 Nil 3 17,553,119 92,717 Nil 4 17,553,119 56,217 36,500 5 17,553,119 92,717 Nil 6 17,553,119 92,717 Nil 7 17,553,119 92,717 Nil 8 17,553,119 92,717 Nil Enquiries to: London Finance & Investment GroupP.L.C. Lloyd Marshall 020 7448 8950 Notes to Editors: ● 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. END More |
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| 29-09-11 |
Hold
Good news
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All looks good to me !
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| 28-09-11 | ||||
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This sounds like good news to me
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| 02-07-11 | ||||
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Q3 - Q4 2011
Non stop news from the most densely compact and diverse drilling program ever to be assembled by a junior o/g company, you can buy your value tickets at an outstanding once in a lifetime's bargain price of 16p. The sp won't be on offer long given whats about to be unleashed - a minimum of 30 drills on four continents in 6 months - every junior oil investors/speculators dream. RRL DYOR cheers |
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| 18-05-11 | ||||
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Yes but this discussion board has never been what you could call active. LFI and its offspring Western Selection have been very disappointing over the last decade. There are two reasons why I am holding on. Firstly it would be tricky to sell them. Secondly they do stand at a sizeable discount to asset value particularly if you 'see through' to the underlying asset value of Western Selection.
The problem is that the investment portfolio never seems to fire on more than a couple of cylinders at any one time. I think in future there will be more focus on special situations and a reduction in the size of the pointless general portfolio. I live in hope that Mr Marshall gets bored with it and decides to buy out the Western Selection minority and then liquidates LFI but I guess it will all depend on him getting his money out of South Africa. |
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The contents of the postings summarised here represents the opinions of the authors and not of Interactive Investor Trading Limited.
They have not been approved or issued by Interactive Investor Trading Limited.
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