Interim Management Statement

RNS Number : 3407Z

Artemis Alpha Trust PLC

18 September 2009

 

Artemis Alpha Trust plc (the 'Company')

Interim Management Statement - 3 months ended 31 July 2009

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 2009, 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 2009 during the period, including the declaration of a second interim dividend for the year to 30 April 2009 of 1.50p per ordinary share. This dividend was paid on 21 August 2009. 

During the period, the Company purchased 25,000 ordinary shares at an average discount of 7.8%. Since 31 July 2009, the Company purchased 25,000 ordinary shares at an average discount of 8.6%. All shares repurchased are being held in treasury. Following these repurchases there are 30,354,988 ordinary shares in issue and 2,313,500 held in treasury.

Subsequent to the reporting period end there has been a revaluation in the Company's unlisted investment portfolio. This change is reflected in the latest financial information set out below.

General financial information

	16 September 2009	31 July 2009	30 April 2009
Net asset value (basic)	261.67p	212.33p	205.23p
Net asset value (diluted)	236.45p	195.59p	189.69p
Share price	217.25p	180.25p	178.00p
Net assets	£79.4m	£64.5m	£62.4m
Market capitalisation	£65.9m	£54.8m	£54.1m
Number of shares in issue	30,354,988	30,379,988	30,404,988
Number of shares in treasury	2,313,500	2,288,500	2,263,500

Ten largest equity investments 

Investment	% of portfolio at 16 September 2009	% of portfolio assets at 31 July 2009	% of portfolio at 30 April 2009
Hurricane Exploration	14.0	5.2	5.7
Vostok Energy	11.9	14.5	18.2
Salamander Energy	5.2	6.1	5.8
New Britain Palm Oil	3.7	6.3	8.6
Booker Group	3.5	4.0	2.6
REA Holdings	2.3	3.0	3.3
Geopark Holdings	2.2	2.9	2.1
Providence Resources	2.2	2.2	-
Telford Homes	2.2	-	-
Hansteen Holdings	2.2	2.4	-

Sector analysis 

Sector	% of portfolio at 16 September 2009	% of portfolio assets at 31 July 2009	% of portfolio at 30 April 2009
Oil & Gas Producers	41.1	35.7	39.2
Financial Services	9.1	11.9	10.4
Real Estate	6.7	6.5	3.3
Food Producers	6.0	9.3	11.9
Industrial Engineering	5.4	6.3	7.8
General Retailers	4.1	3.4	0.7
Aerospace & Defence	3.9	4.3	5.1
Food & Drug Retailers	3.5	4.0	2.6
Travel & Leisure	2.9	4.2	2.7
Nonlife Insurance	2.4	2.8	2.9
Other	14.9	11.6	13.4

Performance 

	3 months	1 year	3 years	Since 1 June 2003 **
Net Asset Value - basic *	3.9%	(14.8)%	1.1%	217.4%
Net Asset Value - diluted *	3.6%	(13.8)%	1.0%	193.7%
Share price *	2.1%	(4.2)%	(7.3)%	179.0%
FTSE All-Share Index	9.4%	(10.5)%	(12.3)%	48.0%

*Source: Artemis Investment Management Limited/Datastream. All figures are to 31 July 2009 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 www.artemisonline.co.uk . 

Artemis Investment Management Limited 

Company Secretary 

Tel: [phone]  

18 SEPTEMBER 2009 

 

END

 

 

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