Result of Tender offer

30 July 2013 LMS Capital plc (the "Company") Results of Tender Offer The Company today announces the results of the Tender Offer set out in thecircular published by the Company on 3 July 2013 (the "Circular") which closedon 22 July 2013, with shareholder approval being given at a general meeting ofthe Company held on 29 July 2013. The Tender Offer Price was determined to be 90 pence and therefore the BasicEntitlement is 17.2%. The Tender Offer Price was set on 29 July 2013. 140,575,258 Ordinary Shares were validly tendered under the Tender Offer. Allvalid tenders will be satisfied in full up to the Basic Entitlement, and,following application of the scale-back mechanism (as set out in the Circular),approximately 2.1% of the Ordinary Shares validly tendered in excess of theBasic Entitlement will also be satisfied. After application of the scalingprovisions, 38,888,738 Ordinary Shares will therefore be purchased. The totalvalue of all Ordinary Shares purchased is £35 million. It is anticipated that the proceeds payable to the Company's QualifyingShareholders for the certificated Ordinary Shares purchased under the TenderOffer will be despatched in the form of a cheque during the week commencing 5August 2013 and that CREST account holders will have their CREST accountscredited during the same week. As set out in the Circular, the Ordinary Shares will be purchased by J.P.Morgan Cazenove pursuant to the Tender Offer and the Company will buy-back suchOrdinary Shares from J.P. Morgan Cazenove. The Company intends to cancel suchOrdinary Shares, reducing its total issued share capital from 226,244,974Ordinary Shares to 187,356,236 Ordinary Shares (of which no Ordinary Shares areheld in treasury). Capitalised terms used in this announcement have the same meaning as ascribedto them in the Circular. Enquiries: LMS Capital plc 0207 935 3555Nick Friedlos, DirectorTony Sweet, Chief Financial Officer J.P. Morgan Cazenove 0207 742 4000Michael Wentworth-Stanley MHP Communications 0203 128 8100Tim McCallKatie Hunt About LMS Capital LMS Capital is an investment company which, following a General Meeting on 30November 2011, is undertaking a realisation strategy with the aim of achievinga balance between an efficient return of cash to shareholders and optimisingthe value of the Company's investments. Its investment portfolio consists ofsmall and medium sized companies in the consumer, energy and business servicesectors.

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