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The Company is pleased to announce the sale of its minority interest in Medhost Inc.

Net proceeds for LMS are estimated to be approximately $8.6 million, of which $7.0 million will be paid cash at closing and $1.6 million by way of a promissory note that will be settled one year after closing and will accrue interest at 11.25% per annum.

The net proceeds of $8.6 million are some $1.6 million in excess of the book value of Medhost at 30 September 2023, the most recently announced net asset value of the Company. At current exchange rates this represents an increase of approximately £1.0 million.

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