Interim Results

Rights and Issues Inv Trust PLC 20 July 2006 CHAIRMAN'S STATEMENT The UK equity markets have been subject to significant volatility in the latest six months with the FTSE All-Share Index rising by 4.2%. The Trust's portfolio has performed satisfactorily with the net asset value of the capital shares increasing by 7.3% to 3140.5p. The interim dividend has been increased to 14p per income share and the Board expects, barring unforeseen circumstances, to pay a final dividend of not less than 29p per income share. Simon Knott Chairman 20th July 2006 Consolidated Unaudited Interim Balance Sheet As at 30th June 2006 30th June 2006 30th June 2005 31st December 2005 Â£ Â£ Â£ Non-current assets Goodwill 65,191 65,191 65,191 Investments-Fair value through profit or loss 67,660,240 51,582,474 59,936,435 ----------- ---------- ----------- 67,725,431 51,647,665 60,001,626 ----------- ---------- ----------- Current assets Trading investments 467,769 213,622 514,272 Trade and other receivables 366,360 303,561 572,544 Amounts due from group undertakings - - - Cash and cash equivalents 3,673,815 10,407,472 6,647,686 ----------- ---------- ----------- 4,507,944 10,924,655 7,734,502 ----------- ---------- ----------- Total assets 72,233,375 62,572,320 67,736,128 ----------- ---------- ----------- Current liabilities Trade and other payables 924,520 691,887 878,416 Current tax payable 183,866 130,926 140,984 ----------- ---------- ----------- 1,108,386 822,813 1,019,400 ----------- ---------- ----------- ----------- ---------- ----------- Total assets less current liabilites 71,124,989 61,749,507 66,716,728 ----------- ---------- ----------- ----------- ---------- ----------- Net assets 71,124,989 61,749,507 66,716,728 ----------- ---------- ----------- Equity Called up share capital 1,225,000 122,5000 1,225,000 Share premium account 225,326 223,326 225,326 Retained reserves: Capital reserve 40,534,894 40,037,735 39,534,068 Revaluation reserve 27,292,242 18,497,163 23,624,240 Dividend equalisation reserve 1,847,527 1,764,283 2,108,094 ----------- ---------- ----------- Total equity 71,124,989 61,749,507 66,716,728 =========== ========== =========== Net asset value per share Income shares 789.5p 691.7p 751.8p Capital shares 3140.5p 2715.4p 2928.1p ========== =========== Six months ended 30th June 2006 Consolidated Unaudited Interim Income Statement Revenue Capital Total Â£ Â£ Â£ 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 Unaudited Interim Income Statement Six months ended 30th June 2005 Revenue Capital Total Â£ Â£ Â£ Investment income 938,592 - 938,592 Other operating income 405,430 - 405,430 ---------- ------------ ------------- Total income 1,344,022 - 1,344,022 Gain/(Losses) on fair value through profit or loss assets 72,939 3,785,362 3,858,301 ---------- ------------ ------------- 1,416,961 3,785,362 5,202,323 Expenses Investment management fee - - - Other expenses 211,522 - 211,522 ---------- ------------ ------------- Profit before tax 1,205,439 3,785,362 4,990,801 Tax 59,346 - 59,346 ---------- ------------ ------------- Profit for the period 1,146,093 3,785,362 4,931,455 ---------- ------------ ------------- Earnings per share Return per income share(p) 26.8p 38.5p 65.3p Return per capital share(p) 29.4p 173.1p 202.5p ---------- ------------ ------------- Year ended 31st Dec 2005 Consolidated Unaudited Interim Income Statement Revenue Capital Total Â£ Â£ Â£ Investment income 1,891,490 - 1,891,490 Other operating income 859,838 - 859,838 -------- ---------- ------------ Total income 2,751,328 - 2,751,328 Gain/(Losses) on fair value through profit or loss assets 125,070 8,408,773 8,533,843 -------- ---------- ------------ 2,876,398 8,408,773 11,285,171 Expenses Investment management fee - - - Other expenses 473,730 - 473,730 -------- ---------- ------------ 473,730 - 473,730 Profit before tax 2,402,668 8,408,773 10,811,441 Tax 139,964 - 139,964 -------- ---------- ------------ Profit for the period 2,262,704 8,408,773 10,671,477 -------- ---------- ------------ Earnings per share Return per income share(p) 52.4p 85.5p 137.9p Return per capital share(p) 58.7p 384.6p 443.3p ----------- ---------- ------------ The interim dividend of 14.0p net (2005:12.5p net) per income share and amounting to Â£344,400 (2005: Â£307,500) is payable on 30th September 2006 to shareholders on the register as at 1st September 2006. 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 2005, 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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