Interim Management Statement

RNS Number : 1626A

Artemis Alpha Trust PLC

15 March 2013

 



Artemis Alpha Trust plc (the "Company")

Interim management statement - 3 months ended 31 January 2013

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 January 2013, 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 31 October 2012 during the period, including the declaration of a first interim dividend for the year to 30 April 2013 of 1.20p per ordinary share. This dividend was paid on 1 February 2013.

During the period, the Company purchased 220,000 ordinary shares at an average discount of 10.2%. All shares repurchased are currently being held in treasury. In addition, 356 subscription shares were converted into ordinary shares at the conversion price of 345.0p per share. As at the close of business on 14 March 2013, the net asset value per share was 325.55p per share, and the share price was 305.50p. The discount to net asset value at which the Company's shares trade was 6.1%.

Following the period end, 160,000 ordinary shares held in treasury were cancelled.

At 15 March 2013, the Company's issued share capital comprises 48,535,988 ordinary shares, of which 1,487,176 are held in treasury and 6,865,616 subscription shares (which carry no voting rights).  Therefore the total number of shares with voting rights in the Company will be 47,048,812 ordinary shares.  

General financial information

	31 January 2013	31 October 2012
Net asset value	325.28p	310.59p
Share price	302.20p	294.00p
Net assets	£153.0m	£146.8m
Market capitalisation	£142.2m	£139.0m
Ordinary shares in issue	47,048,812	47,268,456
Ordinary shares in treasury	1,647,176	1,427,176
Subscription shares in issue	6,865,616	6,865,972

Ten largest equity investments

Investment	% of portfolio 31 January 2013	% of portfolio 31 October 2012
Hurricane Exploration	6.9%	7.4%
Providence Resources	5.2%	5.7%
Vostok Energy	4.6%	4.8%
The Hut Group	4.2%	2.8%
Africa Oil	3.7%	4.8%
Salamander Energy	2.9%	3.3%
Polar Capital Holdings	2.6%	1.8%
New Britain Palm Oil	2.5%	2.6%
Eland Oil & Gas	2.4%	2.3%
Emis Group	2.2%	2.7%

Sector analysis

Sector	% of portfolio 31 January 2013	% of portfolio 31 October 2012
Oil & Gas Producers	37.9%	40.9%
Financial Services	12.2%	10.7%
Food Producers	7.0%	7.7%
General Retailers	5.5%	2.9%
Software & Computer Services	4.5%	5.2%
Mining	2.9%	3.0%
Aerospace & Defence	2.9%	2.8%
Pharmaceuticals & Biotechnology	2.7%	2.5%
Real Estate Investment & Services	2.7%	3.2%
Household Goods & Home Construction	2.5%	1.8%
Other	19.2%	19.3%

Performance

	3 months	1 year	3 years	Since 1 June 2003 **
Net asset value *	5.1%	19.3%	35.8%	405.4%
Share price *	3.2%	20.0%	36.5%	385.3%
FTSE All-Share Index *	9.3%	16.3%	37.0%	132.5%

*Source: Artemis Investment Management LLP/Datastream. All figures are to 31 January 2013 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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