The 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 in the capital structure and Board changes will be implemented subject to the appropriate regulatory approvals being received.
Giles Vardey, Chairman , said: “We look forward to the active involvement of Charles-Henri Sabet and deploying these substantial resources to build out the Company’s capabilities and product offerings. We now have the opportunity to ‎strengthen our brand, develop a broader product and services offering, and attract a more diversified client base, both within the UK market and internationally.”