Interim Results

Rights and Issues Inv Trust PLC 12 July 2007 CHAIRMAN'S STATEMENT The UK equity market has again made progress during the last six months with the FTSE All-Share Index increasing by 5.7%. The Trust's portfolio produced a solid performance and the net asset value of the capital shares rose by 10.6% to 4058.0p. The net assets of the Trust now exceed £90m. The interim dividend has been increased to 15.5p per income share and the board expects, barring unforeseen circumstances, to pay a final dividend of not less than 30p per income share. Simon Knott Chairman 12th July 2007 CONSOLIDATED UNAUDITED INTERIM BALANCE SHEET As at 30th June 2007 30th June 30th June 31st December ---------- ----------- --------- 2007 2006 2006 £ £ £ Non-current assets Goodwill 65,191 65,191 65,191 Investments - Fair value through profit or loss 87,608,470 67,660,240 80,300,311 ---------- ----------- --------- 87,673,661 67,725,431 80,365,502 ---------- ----------- --------- Current Assets Trading investments 293,898 467,769 409,726 Trade and other receivables 348,100 366,360 384,441 Amounts due from group undertakings 0 0 0 Cash and cash equivalents 4,141,030 3,673,815 2,556,595 ---------- ----------- --------- 4,783,028 4,507,944 3,350,762 ---------- ----------- --------- Total Assets 92,456,689 72,233,375 83,716,264 Current liabilities Trade and other payables 908,931 924,520 600,563 Current tax payable 145,895 183,866 91,437 ---------- ----------- --------- 1,054,826 1,108,386 692,000 ---------- ----------- --------- Total assets less current liabilities 91,401,863 71,124,989 83,024,264 ---------- ----------- --------- ---------- ----------- --------- Net Assets 91,401,863 71,124,989 83,024,264 ========== =========== ========= Equity Called up share capital 1,225,000 1,225,000 1,225,000 Share premium account 225,326 225,326 225,326 Retained reserves: Capital reserve 40,668,355 40,534,894 41,235,990 Revaluation reserve 47,210,215 27,292,242 38,134,169 Dividend equalisation reserve 2,072,967 1,847,527 2,203,779 ---------- ----------- --------- Total equity 91,401,863 71,124,989 83,024,264 ========== =========== ========= Net asset value per share Income shares 1002.1p 789.5p 920.3p Capital shares 4058.0p 3140.5p 3669.8p ========== =========== ========= CONSOLIDATED UNAUDITED INTERIM INCOME STATEMENT For the six months ended 30th June 2007 Six Months ended 30th June 2007 Revenue Capital Total £ £ £ Investment income 1,035,560 0 1,035,560 Other operating income 429,235 0 429,235 -------- ------------ ----------- Total income 1,464,795 0 1,464,795 Gains/(Losses) on fair value through profit or loss assets 50,234 8,508,411 8,558,645 -------- ------------ ----------- 1,515,029 8,508,411 10,023,440 Expenses Investment management fee 0 0 0 Other expenses 261,311 0 261,311 -------- ------------ ----------- Profit before tax 1,253,718 8,508,411 9,762,129 Tax 54,460 0 54,460 -------- ------------ ----------- 1,199,258 8,508,411 9,707,669 ======== ============ =========== The total column relates to the group's income statement Earnings per share Return per income share (p) 24.8p 86.5p 111.3p Return per capital share (p) 35.6p 389.1p 424.7p ======== ============ =========== Consolidated Unaudited Interim Income Statement Six months ended 30th June 2006 Revenue Capital Total £ £ £ Investment income 882,197 - 882,197 Other operating income 379,447 - 379,447 -------- ------------- ------------ Total income 1,261,644 - 1,261,644 Gain/(Losses) on fair value through profit or loss assets 19,848 4,668,828 4,688,676 -------- ------------- ------------ 1,281,492 4,668,828 5,950,320 Expenses Investment management fee - - - Other expenses 230,467 - 230,467 -------- ------------- ------------ Profit before tax 1,051,025 4,668,828 5,719,853 Tax 42,882 - 42,882 -------- ------------- ------------ Profit for the period 1,008,143 4,668,828 5,676,971 -------- ------------- ------------ Earnings per share Return per income share(p) 18.2p 47.5p 65.7p Return per capital share(p) 33.9p 213.5p 247.4p -------- ----------- ------------ CONSOLIDATED INTERIM INCOME STATEMENT For the six months ended 30th June 2007 Year ended 31st December 2006 Revenue Capital Total £ £ £ Investment income 2,008,203 0 2,008,203 Other operating income 750,360 0 750,360 ---------- ---------- ----------- Total income 2,758,563 0 2,758,563 Gains/(Losses) on fair value through profit or loss assets 102,765 16,211,851 16,314,616 ---------- ---------- ----------- 2,861,328 16,211,851 19,073,179 Expenses Investment management fee 0 0 0 Other expenses 514,179 0 514,179 ---------- ---------- ----------- Profit before tax 2,347,149 16,211,851 18,559,000 Tax 91,654 0 91,654 ---------- ---------- ----------- 2,255,495 16,211,851 18,467,346 ========== ========== =========== The total column relates to the group's income statement Earnings per share Return per income share (p) 45.7p 164.8p 210.5p Return per capital share (p) 68.3p 741.4p 809.7p ========== ========== =========== The interim dividend of 15.5p net (2006:14.0p net) per income share and amounting to £381,300 (2006: £344,000) is payable on 30th September 2007 to shareholders on the register as at 31st August 2007. The sum accruing by way of dividend to the Capital shareholders will, in view of the small sum involved be included in the final dividend. These are not full statutory accounts in terms of Section 240 of the Companies Act 1985. The full audited accounts for the year to 31st December 2006, which were unqualified, have been filed with the Registrar of Companies. The interim accounts are to be posted to shareholders and are available at the registered office of the Company, No1 Poultry, London EC2R 8JR. This information is provided by RNS The company news service from the London Stock Exchange

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