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LONDON - London Finance & Investment Group PLC, also known as Lonfin, has updated its capital reduction timetable due to delays at Companies House, impacting its trading on the London Stock Exchange (LON:LSEG) (LSE) and the Johannesburg Stock Exchange (JSE). The company’s ordinary shares will see their last day of trading on the LSE on Wednesday, May 7, 2025, followed by a suspension of trading on May 8, 2025, on both the LSE and the JSE.
Trading of Lonfin’s ordinary shares on the LSE is set to be canceled at 8:00 am UK time on Friday, May 9, 2025. On the same day, the company will announce finalization information, including the capital reduction payment amount and currency conversion rate. The JSE will experience its last day of trading on Monday, May 12, 2025, with the capital reduction expected to be registered at Companies House by 11:00 am that day.
The effective date for the capital reduction is also Monday, May 12, with distributions to shareholders planned from this date and the last payment by Monday, May 19, 2025. The earliest date for the termination of the JSE listing is projected to be Tuesday, May 20, 2025.
Shareholders should note that ordinary share certificates on the South African register will not be eligible for dematerialization or rematerialization from May 13 to May 15, 2025. Additionally, no transfers of shares between the London and South African registers will be permitted from May 7 to May 15, 2025.
This adjustment in schedule follows the company’s previous announcement on the proposed capital reduction. The new dates supersede any previously announced timelines. Lonfin has stated that these dates are subject to the processing of documents with Companies House and may change, in which case a new announcement will be made.
The withdrawal from the LSE and the termination of the JSE listing are in accordance with the respective listing rules of the UK’s Financial Conduct Authority and the JSE’s public shareholder spread requirements. After the capital reduction, Lonfin will no longer meet the JSE’s listing criteria.
This news is based on a press release statement from Lonfin, with the independent directors of the company taking responsibility for the announcement’s contents.
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