19th May 2016 10:07
LONDON (Alliance News) - Investment company LMS Capital PLC on Thursday said its net asset value declined in the first quarter.
LMS said its net asset value per share at the end of March was GBP92.1 million, down from GBP95.1 million at the end of December. The principal factor for the decline was LMS reaching a deal to sell one of its unlisted investments which reduced the carrying value of his holdings by GBP3.6 million.
LMS said its cash balance following the disposal will be around GBP15.0 million, and it is seeking ways to optimise value from the rest of its portfolio as well.
LMS shares were down 1.8% to 62.00 pence Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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