LMS Capital shares tumble on investment policy change

24th Jul 2015 13:56

(ShareCast News) - Shares in investment company LMS Capital fell by more than 5% after the company said it would shift its focus to energy companies.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.