LMS Capital shares tumble on investment policy change
Shares in investment company LMS Capital fell by more than 5% after the company said it would shift its focus to energy companies.
Financial Services
14,051.23
16:59 26/04/24
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LMS Capital
18.45p
16:49 26/04/24
At 1351 BST shares in LMS fell by 5.33% to 74.31p as the firm said it would change policy, subject to shareholder approval.
LMS said the collapse of oil and gas prices have caused dislocation within the energy sector which created a potential investment opportunity.
The company said energy investment expert Tom Daniel, former BP boss Tony Hayward, and current non-executive directors Robert Rayne and Bernard Duroc-Danner would oversee the strategy.
LMS had also engaged former Goldman Sachs banking head Julian Metherell to act as a senior adviser.