27th Apr 2018 12:28
LONDON (Alliance News) - LMS Capital PLC said Friday its net asset value has dropped to GBP60.2 million in the first quarter.
LMS Capital's net asset value at the end of 2017 was GBP64.5 million, equivalent to 80.00 pence per share. At the end of March, its net asset value was 75.00p per share.
According to LMS, the "strengthening of sterling against the dollar and decreases in prices in the period" accounted for the GBP3.8 million reduction in net asset value.
The private equity investment company believes there is a "reasonable prospect" of liquidity from its existing portfolio in the next 18 months. Its said the GBP6.0 million sale of Brockton Capital LLP has provided the company with "some" liquidity to start new investment activities.
Shares in LMS Capital were down 3.5% to 46.80 pence each Friday.
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