DJ London Capital Group Holdings PLC Completion of Disposal
RNS Number : 2978W
London Capital Group Holdings PLC
31 July 2018
LONDON CAPITAL GROUP HOLDINGS PLC
("LCG" or the "Company")
Completion of Disposal
Further to the approval by shareholders on 21 March 2018, the Company has been granted approval of the change of control of LCGL by the Financial Conduct Authority ("FCA"). All of the conditions precedent for the disposal of 91.5% of the issued share capital of LCGL (the "Disposal") have now been met and therefore the Disposal of LCGL is now complete. The Company retains 8.5% of the issued share capital of LCGL which SLCG International DMCC has the option to purchase pursuant to the terms of the Call Option Agreement entered into today.
The Company is now classified as an investment vehicle for the purposes of the NEX Rules and will seek acquisitions and investments in the financial technology sector.
This announcement should be read in conjunction with, the announcement released by the Company on 21 March 2018 and the Document to Shareholders dated 2 March 2018, both of which are available on the Company's website: https://ir.lcg.com/
Unless the context otherwise requires defined terms used in this announcement have the same meaning as set out in the Document dated 2 March 2018.
The Directors of the Company accept responsibility for the contents of this announcement.
For further information, please contact:
London Capital Group Holdings PLC: Mukid Chowdhury +44 (0)20 7456 7000 NEX Exchange Growth Market Corporate Adviser: Peterhouse Capital Limited Fungai Ndoro and Guy Miller +44 (0)20 7469 0930
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(END) Dow Jones Newswires
July 31, 2018 07:00 ET (11:00 GMT)