LMS Capital PLC Portfolio Update - Brockton Fund 1
January 29 2024 - 2:00AM
RNS Regulatory News
RNS Number : 1917B
LMS Capital PLC
29 January 2024
THE INFORMATION CONTAINED WITHIN THIS
ANNOUNCEMENT MAY CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE UK'S MARKET ABUSE REGULATION. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN.
LEI:
2138004UJ1TW8UCELX08
29
January 2024
LMS Capital plc ("LMS" or "the Company")
Portfolio update - Brockton
Fund 1
The Company has been informed by the
general partner of Brockton Capital Fund I ("Brockton") that the senior lender to
Brockton's "Super Prime" residential development in Mayfair
("Mayfair development") appointed a receiver to the Mayfair
development on 26 January 2024. LMS has an investment in Brockton
which in turn holds a preferred debt investment in the Mayfair
development with a reported net asset value by LMS of £4.9m at Q3
2023.
Whilst sales of apartments in the
Mayfair development have been slower than originally anticipated,
sales prices achieved have been strong. Furthermore, Brockton has
informed LMS that the senior lender intends to conduct an orderly
sales process of the Mayfair development. LMS will provide a
further update in due course.
The person responsible for arranging
the release of this announcement on behalf of the Company is IQ EQ
Corporate Services (UK) Limited, the Company Secretary.
For
further information please contact:
LMS
Capital plc - Nick Friedlos, Managing Director
0207 935 3555
Shore
Capital - Rose Ramsden
0207 408 4050
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