Interim Management Statement

RNS Number : 3456O

Artemis Alpha Trust PLC

15 September 2011

 

Artemis Alpha Trust plc (the "Company")

Interim management statement - 3 months ended 31 July 2011

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 31 July 2011, 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 30 April 2011 during the period, including the declaration of a second interim dividend for the year to 30 April 2011 of 1.65p per ordinary share. This dividend was paid on 19 August 2011.

During the period, the Company has purchased 150,000 ordinary shares at a discount of 3.7%. All shares repurchased are currently being held in treasury. On 14 September 2011, the net asset value per share was 296.14p per share, and the share price was 287.12p. The discount to net asset value at which the Company's shares trade was 3.0%. In the period, 15,349 subscription shares were converted into ordinary shares at the conversion price of 345.0p per share.

General financial information

	31 July 2011	30 April 2011
Net asset value	320.60p	325.70p
Share price	317.10p	332.38p
Net assets	£156.0m	£159.0m
Market capitalisation	£154.4m	£162.2m
Ordinary shares in issue	48,690,588	48,825,239
Ordinary shares in treasury	150,000	-
Subscription shares in issue	6,871,016	6,886,365

Ten largest equity investments

Investment	% of portfolio 31 July 2011	% of portfolio 30 April 2011
Vostok Energy	7.2%	6.9%
Hurricane Exploration	6.8%	6.7%
Eland Oil & Gas	3.9%	3.9%
The Hut Group	3.4%	3.4%
Lynton Holding Asia	3.4%	3.4%
New Britain Palm Oil	3.2%	3.0%
Salamander Energy	2.8%	3.0%
R.E.A. Holdings	2.2%	2.4%
Asian Plantations	2.2%	2.1%
Providence Resources	1.8%	2.0%

Sector analysis

Sector	% of portfolio 31 July 2011	% of portfolio 30 April 2011
Oil & Gas Producers	32.3%	32.7%
Financial Services	8.9%	6.6%
Food Producers	8.9%	7.4%
Support Services	5.8%	7.0%
General Retailers	5.0%	7.2%
Aerospace & Defence	4.8%	4.8%
Software & Computer Services	4.4%	3.5%
Mining	4.0%	3.4%
Real Estate Investment & Services	3.6%	3.5%
Travel & Leisure	3.6%	4.1%
Other	18.7%	19.8%

Performance

	3 months	1 year	3 years	Since 1 June 2003 **
Net Asset Value *	(1.1)%	27.7%	44.1%	391.2%
Share price *	(4.1)%	36.0%	72.2%	401.5%
FTSE All-Share Index	(3.3)%	14.9%	22.8%	103.0%

*Source: Artemis Investment Management LLP/Datastream. All figures are to 31 July 2011 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 artemisonline.co.uk.

Artemis Investment Management LLP

Company Secretary

Tel:  [phone]  

 

END

 

 

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