For filings with the FCA include the annex
For filings with issuer exclude the annex


TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi


1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are                            LMS CAPITAL PLC
attached:ii

2. Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights                                            X

An acquisition or disposal of qualifying financial instruments which may result
in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to
qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the                     ASSET VALUE INVESTORS LTD
notification obligation:iii

                                                            StateStreet Nominees  - ASV0

                                                            Chase Nominees - ACV07
4. Full name of shareholder(s)
 (if different from 3.):iv                                  Chase Nominees - 11429

                                                            BNY Nominees- 392213



5. Date of the transaction and date on
which the threshold is crossed or                            27/01/2015
reached: v

6. Date on which issuer notified:                            28/01/2015

7. Threshold(s) that is/are crossed or                       16%
reached: vi, vii



8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type   Situation previous             Resulting situation after the triggering transaction
of           to the triggering
shares       transaction

             Number            Number       Number     Number of voting      % of  voting rights x
if possible  of                of           of shares  rights
using        Shares            Voting
the ISIN                       Rights       Direct     Direct xi    Indirect Direct    Indirect
CODE                                                                xii

GB00B07V0H27
             22,673,938        22,673,938   23,673,938 23,673,938            16.30%
Ordinary
shares



B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of        Expiration       Exercise/               Number of voting              % of voting
financial      date xiii        Conversion Period xiv   rights that may be            rights
instrument                                              acquired if the
                                                        instrument is
                                                        exercised/ converted.

N/A



C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments xv, xvi

Resulting situation after the triggering transaction

Type of       Exercise price   Expiration  Exercise/   Number of voting rights % of voting rights
financial                      date xvii   Conversion  instrument refers to    xix, xx
instrument                                 period
                                           xviii

                                                                               Nominal   Delta
N/A




Total (A+B+C)

Number of voting rights                        Percentage of voting rights

23,673,938                                     16.30%



9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi




Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease
to hold:

12. Date on which proxy holder will cease to hold
voting rights:



13. Additional information:   Asset Value Investors acts as discretionary fund manager
                              for all shares mentioned in item 8.

                              Asset Value Investors Limited
14. Contact name:
                              Jake Crowhurst

15. Contact telephone number: 0207 659 4800