Interim Management Statement

RNS Number : 1719P

Artemis Alpha Trust PLC

19 March 2009

 

Artemis Alpha Trust plc (the 'Company')

Interim management statement - 3 months ended 31st January 2009  

Introduction 

The Company has prepared this interim management statement to meet the requirements of the UK Listing Authority's Disclosure Rules and Transparency Rules.  It covers the three month period ended 31st January 2009, together with relevant information up to the date of publication.  

Investment objective 

Artemis Alpha Trust plc aims to achieve above average rates of total return over the longer term and to achieve a growing dividend stream.

Material events & transactions

The Company announced its results for the six months ended 31st October 2008 during the period, including the declaration of a first interim dividend for the year to 30th April 2009 of 1.10p per ordinary share. This dividend was paid on 2nd February 2009. 

During the period, the Company purchased 677,500 ordinary shares at an average discount of 10.7%. Since 31st January 2009, the Company purchased 297,000 ordinary shares at an average discount of 7.3%. All shares repurchased are being held in treasury. Following these repurchases there are 30,681,988 ordinary shares in issue and 2,676,500 held in treasury.

General financial information

	18th March 2009	31st January 2009	31st October 2008
Net asset value (basic)	184.76p	178.73p	182.02p
Net asset value (diluted)	172.74p	167.80p	170.75p
Share price	163.50p	155.75p	162.50p
Net assets	£56.7m	£55.4m	£57.6m
Market capitalisation	£50.2m	£48.2m	£51.4m
Number of shares in issue	30,681,988	30,978,988	31,656,488
Number of shares in treasury	2,676,500	2,379,500	1,702,000

Ten largest equity investments 

Investment	% of net assets at 31st January 2009	% of net assets at 31st October 2008
Vostok Energy	20.0	17.2
Hurricane Exploration	6.2	6.0
New Britain Palm Oil	5.5	4.6
Salamander Energy	4.1	6.1
AMZ Holdings	2.9	2.3
REA Holdings	2.8	2.5
Buried Hill Energy (Cyprus)	2.5	2.2
Homeland Renewable Energy	2.4	2.0
Playtech	2.4	2.1
Close Brothers Group	2.2	-

Sector analysis 

Sector	% of net assets at 31st January 2009	% of net assets at 31st October 2008
Oil & Gas Producers	37.2	41.1
Food Producers	8.3	6.6
General Financial	8.2	10.4
Industrial Engineering	5.9	7.0
Aerospace & Defence	3.7	2.3
Travel & Leisure	3.3	2.5
Nonlife Insurance	3.0	1.2
Real Estate	2.8	3.3
Electricity	2.4	1.9
Software & Computer Services	2.4	2.0
Others	22.8	21.7

Performance 

	3 months	1 year	3 years	Since 1st June 2003 **
Net Asset Value - basic *	(1.2)%	(21.6)%	(17.1)%	165.3%
Net Asset Value - diluted *	(1.1)%	(20.0)%	(15.5)%	150.0%
Share price *	(3.4)%	(21.7)%	(24.5)%	139.1%
FTSE All-Share Index	(4.0)%	(27.8)%	(21.2)%	27.4%

*Source: Artemis Investment Management Limited/Datastream. All figures are to 31st January 2009 and are total returns. 

** The date of Artemis' appointment as investment manager. 

A copy of the interim management statement and further information about the Company can be found on the investment manager's website at www.artemisonline.co.uk . 

Artemis Investment Management Limited 

Company Secretary 

Tel: [phone]  

19 MARCH 2009 

 

END

 

 

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