Interim Management Statement

RNS Number : 2472M

Artemis Alpha Trust PLC

13 September 2012

 



Artemis Alpha Trust plc (the "Company")

Interim management statement - 3 months ended 31 July 2012

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 2012, 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 2012 during the period, including the declaration of a second interim dividend for the year to 30 April 2012 of 1.75p per ordinary share. This dividend was paid on 17 August 2012.

During the period, the Company has purchased 785,128 ordinary shares at an average discount of 8.8%. All shares repurchased are currently being held in treasury. Since the period end, the Company has purchased a further 70,000 ordinary shares at an average discount of 8.7%. As at 12 September 2012, the net asset value per share was 314.02p per share, and the share price was 282.00p. The discount to net asset value at which the Company's shares trade was 10.0%. In the period, 1,162 subscription shares were converted into ordinary shares at the conversion price of 345.0p per share.

Since the period end, 150,000 ordinary shares held in treasury were cancelled.

At 13 September 2012, the Company's issued share capital comprises 48,695,632 Ordinary shares, of which 1,327,176 are held in treasury and 6,865,972 Subscription shares (which carry no voting rights).  Therefore the total number of shares with voting rights in the Company will be 47,368,456 Ordinary shares.  

General financial information

	31 July 2012	30 April 2012
Net asset value	299.50p	307.64p
Share price	274.88p	283.25p
Net assets	£142.1m	£148.3m
Market capitalisation	£130.4m	£136.5m
Ordinary shares in issue	47,438,456	48,222,422
Ordinary shares in treasury	1,407,176	622,048
Subscription shares in issue	6,865,972	6,867,134

Ten largest equity investments

Investment	% of portfolio 31 July 2012	% of portfolio 30 April 2012
Hurricane Exploration	7.5%	7.5%
Providence Resources	6.0%	5.2%
Vostok Energy	5.0%	4.8%
Africa Oil	4.6%	4.4%
New Britain Palm Oil	3.6%	3.7%
Lynton Holding Asia	3.4%	3.5%
Salamander Energy	3.2%	2.6%
Asian Plantations	2.1%	2.4%
Emis Group	2.1%	1.8%
Brewin Dolphin	2.1%	2.0%

Sector analysis

Sector	% of portfolio 31 July 2012	% of portfolio 30 April 2012
Oil & Gas Producers	38.7%	39.3%
Financial Services	11.1%	10.8%
Food Producers	8.7%	9.7%
Software & Computer Services	5.1%	4.8%
Aerospace & Defence	4.1%	4.2%
Mining	3.9%	4.1%
Real Estate Investment & Services	3.7%	3.3%
Support Services	3.3%	2.1%
Pharmaceuticals & Biotechnology	2.4%	2.0%
General Retailers	2.4%	1.4%
Other	16.6%	18.3%

Performance

	3 months	1 year	3 years	Since 1 June 2003 **
Net Asset Value *	(2.1)%	(5.6)%	57.9%	363.6%
Share price *	(2.3)%	(12.3)%	57.6%	339.7%
FTSE All-Share Index	(1.0)%	0.4%	37.7%	103.7%

*Source: Artemis Investment Management LLP/Datastream. All figures are to 31 July 2012 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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