Neil Lerner is an experienced and commercially orientated accountant and Audit Committee Chair. He retired in September 2006 as Risk Management partner for KPMG where he had responsibilities for managing all aspects of professional risk. He continued until September 2009 on a part-time basis as Special Advisor to KPMG International’s captive insurer. Since that date Neil has taken on a number of non-executive roles, including board positions at the Royal Brompton & Harefield NHS Foundation Trust, the RNLI and SOAS.

Martin Knight has held a number of project and advisory roles over the last 30 years. He was a director of Morgan Grenfell & Co Limited and subsequently became the principal adviser to the private wealth investment firm, South Audley Street Investments. He was a governor and council member of Imperial College from 1992 to 2010. Martin was the architect and remains Chairman of Imperial Innovations Group plc, the institutionally funded and publicly quoted vehicle for the exploitation of intellectual property emanating from the UK's leading research intensive universities, principally Imperial College. He is also a director of Chrysalis VCT plc and Toumaz Holdings Limited.

Neither Neil Lerner nor Martin Knight has any interest in shares in LMS; there is no other information required to be disclosed under Rule 9.6.13 of the Listing Rules.

9 December 2011

LMS Capital plc (“LMS” or the “Company”) announces that its board of directors (the “Board”) has agreed a process to reconstitute the Board. This process, which is intended to ensure that the Company has an independent Board in place to oversee its wind-down in the best interests of all shareholders, and to reflect good corporate governance, has been established with the Concert Party described in the Company’s circular to shareholders dated 7 November 2011.

Paul Fincham/Rob Naylor                                  

The Board of LMS Capital (“LMS” or “the Company) is pleased to present the Company’s Interim Management Statement (“IMS”) as required by the UK Listing Authority’s Disclosure and Transparency Rule 4.3. This statement relates to the period from 1 July 2011 to 15 November 2011.

• In September we completed a restructuring and acquisition of certain of the profitable trading entities of 365 plc, which provides IT managed services. This transaction increased our interest from 23% to 84% for net consideration of £1.8 million;

• Also in September Updata entered into a borrowing facility which enabled it to return to us £2.85 million of our original investment cost;

• In July we sold our remaining shares in Gulfmark Offshore at a small premium to the 30 June 2011 carrying value;

• Also in July we completed on the sale of the last of the 7 fund positions, the disposal of which was announced in the first half;

• Uncalled fund commitments at 30 September were £25.2 million - down from £27.5 million at the end of June and £40.7 million at the end of 2010;

• Net Asset Value per share was 89 pence at 30 September 2011, a decrease of 4% from 93 pence at 30 June 2011. The principal factor in this decline was the share price of Weatherford International which at the end of September was 35% lower than at the end of June. This resulted in an unrealised loss for the quarter of £8.5 million before currency effects, reducing NAV per share by 3 pence.

		30 September 2011		30 June  2011
		£'000		£'000
US
Quoted		20,806		31,296
Unquoted		39,378		37,133
Funds		71,304		71,666
US total		131,488		140,095
UK
Quoted		922		1,062
Unquoted		44,710		45,617
Funds		35,542		37,569
UK total		81,174		84,248
Total		212,662		224,343

To read the appendix, please download the PDF.

London, 7November 2011: LMS Capital plc (“LMS Capital” or the “Company”) announces that, following earlier announcements, a shareholder circular (the “Circular”) with resolutions to be voted on at the Company’s forthcoming General Meeting has today been filed with the UKLA and posted to shareholders.

In summary, the resolutions to be proposed are:

10 October 2011

LMS Capital plc (LMS or the “Company”) announces that its Chairman, The Honourable Robert Rayne, and certain members of the Rayne concert party together holding shares representing approximately 35 per cent. of the entire issued share capital of the Company (the "Concert Party"), have indicated that they would like the Company to be broken up in the short term.

4 August 2011

• Over the last 12 months our Net Asset Value per share has increased 12%, reflecting the successful implementation of our refocused strategy.

• Owned EBITDA increased by 42% over the six month period compared to the prior year, reflecting the improved trading performance by our direct holdings as well as our requirement for greater focus on profit and cash generation.
• Realisations of £40.6 million principally from funds and quoted investments in line with our strategy to release capital for direct investments.
• Strong balance sheet – net cash of £30.5 million, bank facility of £15 million undrawn.
• We are currently working on a number of attractive investment opportunities consistent with our strategy of acquiring profitable and growing companies.

• The consolidated profit from continuing operations for the period (including portfolio subsidiaries) was £5.2 million (six months ended 30 June 2010: £0.6 million).
• The investment portfolio showed a net gain of £13.9 million (5.5%) (six months ended 30 June 2010: net loss of £8.8 million) before the effect of unrealised currency losses of £4.4 million (six months ended 30 June 2010: unrealised net currency gains of £9.6 million).