London And City Group Holdings Limited

The principal activities of the group during the year were comprised of property development and investment. Sites are developed to create both residential and commercial units for letting on the open market and subsequently retained for longer term as income producing investments. The directors are pleased to report further relatively significant advance in the level of group investment in the year under review, and the indications are that there will be further progress in the ensuing year. Results and dividends The results for the year are set out on page 10. No ordinary dividends were paid. The director does not recommend payment of a dividend. Auditor In accordance with the company's articles, a resolution proposing that Sargeant Partnership Limited be appointed as auditor of the group will be put at a General Meeting.