The origins of the Company lie in the investment of family wealth, much of it used to endow charitable foundations focused on a wide range of endeavours in our society. The Board understands its responsibility to build on this history and evolve it to ensure that the Company adopts and adheres to an approach to business that is relevant to environmental, social and governance (‘ESG’) standards today.

We are committed to maintaining high standards of corporate governance

LMS is a Premium listed London Stock Exchange investment company, it is internally managed and is registered with the FCA on the Register of Small Registered UK AIFMs (FRN 849541).

As an internally managed business its Board takes full responsibility for the performance of the business.

The Board comprises a majority of independent non executive directors with relevant experience.

In fulfilling its responsibilities, the Board exercises oversight through its key committees – Investment Committee, Audit Committee, Remuneration Committee and Nominations Committee.

These Committees provide rigorous challenge around decisions in their respective areas. There is a schedule of formal Board and Committee meetings throughout the year, with a frequent dialogue amongst Board members and the senior team, in addition to the formal meetings.

As a small investment company, much of our ESG impact is driven by the companies in which we choose to invest

We believe that investing in businesses that place an emphasis on ESG issues both protects and creates value for our shareholders. New investments are subject to a rigorous multi-stage assessment and approval process by the Investment Committee and Board.

Our evaluation of investments includes, but not limited to, consideration of climate change impacts, the business ethics of an investee company, its human resource practices, health and safety record and overall, the way it implements, monitors and manages its own ESG policies. The relative significance of individual factors will vary from business to business according to the nature of its operations.