Company Update

London & Zurich Logo

London & Zurich Limited (parent company of Card Management Services Limited) financial statements for the period ended 31 December 2012 are now filed with companies house. You will note that page 2 of the financial statements includes extensive disclosure of the group in which London and Zurich now operates (copied below for reference) and that the reader of the financial statements should refer to the statements of both Card Management Services Limited and Constellation Software Inc. to fully understand the operational and financial strength of the Company.

“In November 2012, Gary Jonas Computing Ltd (“Jonas”) completed the acquisition of the London & Zurich Limited’s (formerly plc) (“the Company”) entire share capital.

As an intermediary holding company, the Company owns the entire share capital of Card Management Services Limited (“CMS”), a company incorporated in England. The principal activity of that Company is provision of direct debit facilities management and collection services.

The Company is a wholly-owned subsidiary of Constellation Software Inc. a Canadian company listed on the Toronto Stock Exchange (“TSX”) http://www.csisoftware.com/investor-relations/shareholder-reports/. Constellation Software Inc. operates on a successful multi-brand strategy and acquires software companies with a buy to hold strategy for all of its businesses.

Both the Company and CMS benefit from the operational and financial support of its ultimate parent and intermediate parent companies. Jonas Software is the leading provider of enterprise management software solutions to the Club, Leisure Fitness & Sports, Foodservice, Construction, Attractions, Metal Service Centers, Moving & Storage, Education, Radiology/Laboratory Information Systems, and Consumer Product Licensing industries. Within these 10 vertical markets, Jonas boasts 41 distinct brands, all of which are respected and longstanding leaders within their own domain.