Description of Business – About us
In the listing particulars published by the Tea Plantations Investment Trust PLC (“TPIT” or the “Company”) in February 1997, it was stated that a resolution would be put to Shareholders at the annual general meeting of the Company to be held in 2007 proposing that TPIT continues as an investment trust company for a further specified period of not more than three years. Following consultation with its advisers, certain Shareholders and the Investment Manager, the TPIT Board put forward continuation proposals that envisaged the continuation of the Company as an investment trust company with a revised investment objective, strategy and policy, increased borrowing powers and a new name. On 6 March, 2007 at the Continuation Vote for the Tea Plantations Investment Trust PLC, the Company became The Laxey Investment Trust PLC (“LIT”). As it did so, it entered a two year realisation/transition phase that will see its existing investments in various Sri Lankan tea companies realised and the proceeds re-invested in accordance with its new investment policy. LIT has begun to pursue a strategy of active value management, the core strategy of the Investment Manager for LIT, Laxey Partners (UK) Limited.

Investment Strategy
The investment objective of LIT is to provide Shareholders with a combination of capital growth and regular dividend income by making investments with the aim of profiting through the reduction of the discount at which these investments trade to their underlying value, where the Board and the Investment Manager consider there is scope for value enhancement; examples of target entities include asset rich businesses such as closed-end funds, property businesses and cash-rich entities.