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Results of annual geneal meeting
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London Finance & Investment Group P.L.C
(Incorporated in England - No. 201151)
Code: LNF ISSN: GB0002994001
RESULTS OF THE ANNUAL GENERAL MEETING
London Finance & Investment Group P.L.C. (LSE: LFI, JSE: LNF), the
investment company whose assets primarily consist of two 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 17,761,113 Nil 200
2 17,741,113 200 20,000
3 17,761,113 200 Nil
4 17,761,113 200 Nil
5 17,761,113 Nil 200
6 17,761,113 200 Nil
7 17,761,113 200 Nil
The Chairman presented a summary of investments showing net assets
per share, including investments at market value, and separately
the net assets per share including the underlying investments of
Western Selection P.L.C. at market value:
Summary of Investments
25 30 June
November
2013 2013
£000 £000
Investment in associate at market value:
Western Selection P.L.C. 4,323 3,930
Strategic Investment at market value:
Finsbury Food Group plc 6,030 5,490
--------- --------
10,353 9,420
General Equity Portfolio at market value 5,800 5,601
Tangible non-current assets 2 3
Cash, bank balances and deposits 185 116
Bank loans (800) (650)
Other net (liabilities)/assets (170) 53
Non-controlling interests (79) (81)
Deferred Tax (421) (204)
--------- --------
Net assets, including investments at market
value 14,870 14,258
====== ======
Net assets per share 47.7p 45.7p
Net assets per share, including the
underlying investments of
Western Selection P.L.C. at market value. 58.0p 53.8p
Since our year ended 30th June 2013 our net assets per share,
including investments at market value have increased by 4.4% from
45.7p to 47.7p at 25th November 2013.
We currently hold 29 blue chip stocks in the UK, Europe and the
USA and our strategic investments have performed well in the
turbulent economic period with the value of Western Selection
P.L.C. rising by 10% and Finsbury Food Group Plc rising by 10%.
The Board remains positive for the coming months.
Enquiries to:
London Finance & Investment Group
P.L.C.
Lloyd Marshall
020 7448 8950
Additional information on Lonfin
- Lonfin is an investment company whose assets primarily consist
of two 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.
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.
28 November 2013
Johannesburg
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 28/11/2013 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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