Interim Management Statement

RNS Number : 2723D

Artemis Alpha Trust PLC

11 September 2008

 

Artemis Alpha Trust plc

Interim Management Statement - 3 months ended 31st July 2008   

 

Introduction

The Company has prepared this interim management statement ('IMS') to meet the requirements of the UK Listing Authority's Disclosure Rules and Transparency Rules. The IMS covers the three month period ended 31st July 2008, 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 year ended 30th April 2008 after the period end, including the declaration of a second interim dividend for the year to 30th April 2008 of 1.40p per ordinary share. This dividend was paid on 29th August 2008.

 

Since 31st July 2008, the Company purchased 700,000 ordinary shares at an average discount of 9.9%. All shares repurchased are being held in Treasury. Following these repurchases there are 31,968,488 ordinary shares in issue and 1,390,000 held in Treasury.

General Financial Information

	10th September 2008	31st July 2008	30th April 2008
Net asset value (basic)	240.15p	254.08p	280.47p
Net asset value (diluted)	219.70p	231.63p	253.54p
Share Price	209.00p	192.50p	231.00p
Net assets	£76.8m	£83.0m	£91.6m
Market capitalisation	£66.8m	£62.9m	£75.5m
Number of shares in issue	31,968,488	32,668,488	32,668,488
Number of shares in treasury	1,390,000	690,000	690,000

Ten Largest Equity Investments 

Investment	% of net assets at 31st July 2008	% of net assets at 30th April 2008
Artemis Asset Management	13.2	11.9
Vostok Energy	9.7	7.0
New Britain Palm Oil	6.5	9.5
Salamander Energy	5.4	5.7
Hurricane Exploration	4.1	3.8
Aricom	3.8	5.2
REA Holdings	3.3	3.2
Solana Resources	3.3	3.5
Revus Energy	3.3	3.6
Geopark Holdings	3.0	2.6

Sector Analysis 

Sector	% of net assets at 31st July 2008	% of net assets at 30th April 2008
Oil & Gas Producers	36.8	33.3
General Financial	24.4	22.7
Food Producers	9.8	12.7
Mining	7.8	8.8
Electronic & Electrical Equipment	3.4	3.0
Aerospace & Defence	3.4	3.0
Travel & Leisure	2.7	4.0
Pharmaceuticals & Biotechnology	2.5	2.3
Software & Computer Services	2.2	1.7
Equity Investment Instruments	1.9	2.0
Others	5.1	6.5

Performance 

	3 months	1 year	3 years	Since 1st June 2003 **
Net Asset Value - basic *	(9.4)	3.8	41.7	272.7
Net Asset Value - diluted *	(8.6)	3.5	37.7	240.8
Share Price *	(16.7)	(10.0)	8.1	191.3
FTSE All Share Index	(10.6)	(13.3)	14.9	65.4

*Source: Artemis Investment Management Limited/Datastream. All figures are to 31st July 2008 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]  

11 SEPTEMBER 2008

 

END

 

 

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