LMS CAPITAL PLC — Regulatory Filings 2021

Dec 22, 2021

National Storage Mechanism | Additional information

Lombard Capital PLC - Statement re disposal of property

PR Newswire

London, December 22

22 December 2021

LOMBARD CAPITAL PLC

Disposal of property

The directors of Lombard Capital Plc (“Lombard” or “the Company”) are pleased to announce that, the Company has completed its sale of the property at Gaskell House 45-49 Rough Hey Road, Grimsargh, Preston, PR2 5AR for £2.075m plus VAT.

The property was acquired for £900,000 plus VAT in April 2020 and both repairs and additional capital expenditure of in excess of £2m  were incurred to complete the property and make it saleable. This includes both property and finance costs which exceeded initial expectations due to unforeseen circumstances and have resulted in a significant loss on the property.  Further details will be provided in the audited results which are due to be announced shortly.

The directors of Lombard accept responsibility for this announcement.

For further information please contact:

Brent Fitzpatrick

Tel:  07718 883813

AQSE Corporate Adviser:

Alfred Henry Corporate Finance Limited

Nick Michaels:  020 3772 0021