LMS Capital plc (LMS) Ordinary 10p

LMS Capital plc is a United Kingdom-based investment company. The Company's investment objective is to deliver consistent long-term financial returns for its shareholders, which includes an overall total return, net of costs, over the long term of 12% to 15% per annum, the total return to include an annual dividend, initially set at 1.5% of NAV and ultimately progressing to 3.0%, and to broaden the shareholder base and develop the Company into an attractive investment for family offices, high net worth investors and institutions attracted by the returns it can achieve and its access to deal flow. The Company is focused on investing in three sector areas: real estate, energy and late-stage private equity. It is primarily focused on smaller private investment opportunities below £50 million value. The Company predominantly invests in the United Kingdom, Europe and North America.

To conduct an orderly realisation of its assets in a manner that seeks to optimise the value of the Company’s investments whilst progressively returning cash to Shareholders.

• Ongoing charge5.30%
• Annual management charge1.50% of Net Assets
• Performance feeYes

Annual management fee of i 1.50% p.a. of the average audited NAV of LMS if NAV is GBP 100m or less ii 1.25% p.a. if NAV exceeds GBP 100m, but is less than GBP 150m and iii 1.00% p.a. if the NAV exceeds GBP150m. Performance fee of 15% of the gain in the NAV of New Investments is payable if its cumulative compound growth represents at least 8% p.a. Contract terminable on notice period of 12 months.