Interim Management Statement

RNS Number : 1540S

Artemis Alpha Trust PLC

19 September 2014

 



Artemis Alpha Trust plc (the "Company")

Interim management statement - 3 months ended 31 July 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 July 2014, 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 2014 during the period, including the declaration of a second interim dividend for the year to 30 April 2014 of 2.00p per ordinary share. This dividend was paid on 15 August 2014.

During the period, 1,258 subscription shares were converted into ordinary shares at the conversion price of 345.0p per share. No shares were bought back during the period, however, 118,200 ordinary shares were purchased into treasury since the period end.

Since the period end 1,935,000 ordinary shares held in treasury were cancelled, in accordance with the Company's policy of holding shares in treasury for one year.

At 15 September 2014, the Company's issued share capital comprises 45,115,452 ordinary shares, of which 2,025,609 are held in treasury and 6,863,976 subscription shares (which carry no voting rights).  Therefore the total number of shares with voting rights in the Company will be 43,089,843 ordinary shares.  

As at the close of business on 18 September 2014, the diluted net asset value per share was 343.24p per share, and the share price was 300.0p.

The Company will hold its annual general meeting at 12.30 pm on 2 October 2014 at the London offices of Artemis Fund Managers Limited, Cassini House, 57 St James's Street, London SW1A 1LD.

General financial information

	31 July 2014	30 April 2014
Net asset value	328.14p	332.55p
Share price	301.00p	298.75p
Net assets	£141.8 million	£143.7 million
Market capitalisation	£130.1 million	£129.1 million
Ordinary shares in issue	43,208,043	43,206,785
Ordinary shares in treasury	3,842,409	3,842,409
Subscription shares in issue	6,863,976	6,865,234

Ten largest equity investments

Investment	% of portfolio 31 July 2014	% of portfolio 30 April 2014
The Hut Group	4.5%	4.5%
Polar Capital Holdings	3.7%	4.2%
Starcount	3.5%	3.5%
Skyepharma	3.2%	3.3%
Hurricane Energy	2.9%	1.9%
Reaction Engines	2.9%	2.9%
Liontrust Asset Management	2.8%	2.3%
Emis Group	2.7%	2.3%
Gift Library	2.7%	2.7%
Metapack	2.6%	2.6%

Sector analysis

Sector	% of portfolio 31 July 2014	% of portfolio 30 April 2014
Financial Services	16.4%	16.6%
Oil & Gas Producers	13.2%	15.0%
General Retailers	8.3%	7.9%
Pharmaceuticals & Biotechnology	7.9%	8.6%
Software & Computer Services	5.9%	6.0%
Food Producers	5.7%	5.6%
Travel & Leisure	5.3%	3.8%
Industrial Transportation	5.1%	5.0%
Aerospace & Defence	4.8%	4.8%
Media	4.0%	3.9%
Other	23.4%	22.8%

Performance

	3 months	1 year	3 years	Since 1 June 2003 **
Net asset value *	(1.2)	10.3	5.5	418.0
Share price *	1.4	10.9	(1.9)	388.9
FTSE All-Share Index *	(0.2)	5.6	31.7	167.4

*Source: Artemis/Datastream. All figures are to 31 July 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 Fund Managers Limited

Company Secretary

Tel:  [phone]  

19 September 2014

 

END

 

 

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