Interim Management Statement

RNS Number : 1932I

Artemis Alpha Trust PLC

05 March 2010

 



Artemis Alpha Trust plc (the "Company")

Interim management statement - 3 months ended 31 January 2010

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 2010, 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 six months ended 31 October 2009 during the period, including the declaration of a first interim dividend for the year to 30 April 2010 of 1.15p per ordinary share. This dividend was paid on 29 January 2010.

During the period, the Company has purchased 175,000 ordinary shares at an average discount of 7.5%. Since 31 January 2010, the Company purchased 18,500 ordinary shares at an average discount of 7.7%. All shares repurchased are currently being held in treasury. As at the date of this statement, the discount to diluted net asset value at which the Company's shares trade was 6.9%.

General financial information

	4 March 2010	31 January 2010	31 October 2009
Net asset value (basic)	291.12p	273.97p	275.56p
Net asset value (diluted)	260.87p	246.78p	248.22p
Share price	243.00p	228.50p	233.50p
Net assets	£88.1m	£82.9m	£83.9m
Market capitalisation	£73.5m	£69.2m	£71.1m
Number of shares in issue	30,248,203	30,266,703	30,441,703
Number of shares in treasury	2,523,000	2,504,500	2,329,500
Number of manager warrants in issue	6,568,982	6,568,982	6,568,982

Ten largest equity investments

Investment	% of portfolio at 4 March 2010	% of portfolio at 31 January 2010	% of portfolio at 31 October 2009
Vostok Energy	11.2	10.9	10.7
Hurricane Exploration	7.0	7.3	12.4
Salamander Energy	5.7	5.9	5.5
Geopark Holdings	3.4	3.3	2.3
New Britain Palm Oil	3.1	2.8	3.0
Providence Resources	2.8	1.8	2.0
Macau Property Opportunities	2.8	2.4	2.2
R.E.A. Holdings	2.5	2.2	2.3
Lynton Holding Asia	2.5	2.4	1.8
Zhaikmunai	2.4	2.4	1.4

Sector analysis

Sector	% of portfolio at 4 March 2010	% of portfolio at 31 January 2010	% of portfolio at 31 October 2009
Oil & Gas Producers	42.0	39.5	39.4
Financial Services	7.8	9.0	10.5
Real Estate Investment & Services	7.5	7.9	6.1
Food Producers	6.1	5.4	5.2
General Retailers	5.9	5.8	5.6
Industrial Engineering	5.8	5.6	5.1
Aerospace & Defence	5.1	5.1	4.4
Equity Investment Instruments	2.5	2.5	1.7
Media	2.2	2.3	3.0
Mining	2.1	2.0	2.0
Other	13.0	14.9	17.0

Performance

	3 months	1 year	3 years	Since 1 June 2003 **
Net Asset Value - basic *	(0.2)%	55.0%	20.3%	311.2%
Net Asset Value - diluted *	(0.1)%	48.9%	18.2%	272.3%
Share price *	(1.6)%	48.7%	13.3%	255.4%
FTSE All-Share Index	3.6%	33.2%	(7.2)%	69.7%

*Source: Artemis Investment Management Limited/Datastream. All figures are to 31 January 2010 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]  

5 MARCH 2010

 

END

 

 

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