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London City Equities Limited (ASX:LCE)

ALERT: Price-sensitive ASX Announcement for LCE
Current share price for LCE : $0.850 0 (0%)+
Announcement
Release
18 Nov 2025 9:34AM
Price at Release
$0.850
Full Release
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Summary
London City Equities Limited has reached an agreement with Excelsior Capital Limited, resulting in the immediate withdrawal of its legal action in the Federal Court of Australia. The litigation, initially scheduled for trial in February 2026, aimed to achieve an outcome similar to the agreement reached. As part of the agreement, Excelsior Capital will undergo a company-managed liquidation process by 30 June 2026, involving asset realization, liability payments, a fully franked dividend, return of capital, and delisting from the ASX. London City Equities sees this resolution as beneficial, reducing legal expenses and allowing a focus on investment portfolio development, although the exact financial impact on the company remains uncertain.
Key Points
  • London City Equities Ltd withdraws legal action against Excelsior Capital.
  • Agreement involves Excelsior's company-managed liquidation by June 2026.
  • Liquidation process includes asset realization, dividends, capital return, and ASX delisting.
  • The agreement aligns with London City's original litigation goals.
  • Financial impact on London City is currently uncertain but potentially beneficial.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.