Mr. Jones was also head of risk. This is likely part of the changes being made by the new regime in charge, led by Charles-Henri Sabet. London Capital Group (LON:LCG) officially states: London Capital Group announces that John Jones Chief Operating Officer of LCG has resigned from the Board to pursue other interests. His resignation will take…
Read moreThe Board of London Capital Group Holdings, (LON:LCG) the online spread betting, CFD and institutional FX company, announces the following trading update in respect of the first half of the current financial year and confirms that it will release interim results for the period ended June 30th 2014 on Wednesday August 27th 2014. Revenue from…
Read moreThe Board of London Capital Group (LON:LCG) has announced that, at a General Meeting of shareholders held on July 3rd, the proposed investment in the Company by GLIO Holdings Ltd and possibly existing shareholder(s) of up to £17.5 million was approved, through the increase in share capital and waiving of preemption rights. The proposed changes…
Read moreToday should be a very interesting day in the corporate history of UK spreadbetting firm London Capital Group (LON:LCG). Today's general meeting and shareholder vote will likely determine the fate of LCG - primarily, whether or not it ends up being 'rescued' by a £17.5 million investment to be made by an investor group led…
Read moreRamping up pressure on the board and shareholders of London Capital Group (LON:LCG), online sports betting and financial spread betting firm Spreadex confirmed that it had indeed recently made a proposal to acquire LCG, and was rejected by LCG's board. Spreadex's offer was all-cash, at £0.30 (30 pence) per share, representing a 46% premium to…
Read moreUK spreadbetting company London Capital Group (LON:LCG) has issued a press release (see below) denying rumors that it has been in acquisition discussions, other than with a group led by Charles Henri-Sabet. As we wrote earlier, Sabet and his group have offered LCG a £17.5 million lifeline in return for effectively taking control of LCG.…
Read moreLeapRate has learned from industry sources that leading Dublin, Ireland based financial spreadbetting broker Shelbourne Markets is about to be acquired. Apparently Shelbourne has been holding sale discussions with a number of suitors, including a leading US-based forex brokerage, and several UK-based spreadbetting rivals. We understand that the likely buyer will be one of the…
Read moreWhile the lifeline being provided by Charles Henri-Sabet and his co-investors in GLIO Holdings might be crucial for London Capital Group's return to growth, it seems that current LCG shareholders don't share his enthusiasm. London Capital Group (LON:LCG) shares dropped another 18% on Wednesday to close at £0.21, the day after the company announced updated…
Read moreThe UK spreadbetting company (LON:LCG) is now looking to raise £12.5-15.0 million from Charles-Henri Sabet, plus another £0.5-2.5 million from institutions.
Read moreLCG is now trading at below its value of cash-on-hand. Does that make LCG an attractive takeover target for those looking to expand in the UK?
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