Interim Management Statement

RNS Number : 3807C

Artemis Alpha Trust PLC

14 March 2014

 



Artemis Alpha Trust plc (the "Company")

Interim management statement - 3 months ended 31 January 2014

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 2014, together with relevant information up to the date of publication. 

Investment objective 

The Company 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 2013 during the period, including the declaration of a first interim dividend for the year to 30 April 2014 of 1.20p per ordinary share. This dividend was paid on 31 January 2014.

During the period, the Company purchased 93,936 ordinary shares at an average discount of 8.5%. All shares repurchased are currently being held in treasury. In addition, 232 subscription shares were converted into ordinary shares at the conversion price of 345.0p per share. A further 254,579 ordinary shares has been purchased into treasury since the period end.

At 14 March 2014, the Company's issued share capital comprises 47,369,194 ordinary shares, of which 3,952,315 are held in treasury and 6,865,234 subscription shares (which carry no voting rights).  Therefore the total number of shares with voting rights in the Company will be 43,416,879 ordinary shares.  

As at the close of business on 13 March 2014, the net asset value per ordinary share was 329.62p per share, and the share price was 300.00p. The discount to net asset value at which the Company's shares trade was 9.0%.

General financial information

	31 January 2014	31 October 2013
Net asset value	329.19p	333.16p
Share price	310.25p	301.50p
Net assets	£143.8m	£145.8m
Market capitalisation	£135.5m	£132.0m
Ordinary shares in issue	43,671,458	43,765,162
Ordinary shares in treasury	3,697,736	3,603,800
Subscription shares in issue	6,854,234	6,854,466

Ten largest equity investments

Investment	% of portfolio 31 January 2014	% of portfolio 31 October 2013
The Hut Group	4.4%	4.5%
Polar Capital Holdings	4.3%	4.5%
All The Worlds Entertainment	3.5%	3.7%
Brewin Dolphin	3.4%	3.2%
Hurricane Energy	3.0%	4.1%
Liontrust Asset Management	2.9%	3.4%
Gift Library	2.7%	1.5%
Africa Oil	2.6%	4.2%
Metapack	2.6%	2.6%
Avation	2.3%	1.9%

Sector analysis

Sector	% of portfolio 31 January 2014	% of portfolio 31 October 2013
Oil & Gas Producers	18.1%	22.6%
Financial Services	17.9%	18.0%
General Retailers	7.6%	6.2%
Software & Computer Services	6.3%	5.8%
Food Producers	5.3%	4.2%
Pharmaceuticals & Biotechnology	5.3%	5.6%
Industrial Transportation	5.1%	4.8%
Media	3.9%	4.2%
Aerospace & Defence	3.7%	3.8%
Household Goods & Home Construction	3.6%	3.7%
Other	23.2%	21.1%

Performance

%	3 months	1 year	3 years	Since 1 June 2003 **
Net asset value *	(0.8)	2.2	4.2	416.7
Share price *	3.3	3.8	0.0	403.6
FTSE All-Share Index *	(2.0)	10.1	27.6	156.0

*Source: Artemis Investment Management LLP/Datastream. All figures are to 31 January 2014 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 artemis.co.uk.

Artemis Investment Management LLP

Company Secretary

Tel:  [phone]  

14 March 2014

 

END

 

 

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