Interim Management Statement

RNS Number : 9245X

Investment Company PLC

22 February 2012

 



The Investment Company plc

Interim Management Statement

Since our Chairman's Statement of 16^th November 2011 in which he drew attention to the unusual volatility in the market prices of some of our holdings, in particular the Fixed Interest securities of Lloyds Banking Group and National Westminster Bank, we have experienced continued volatility of a similar nature resulting in the estimated unaudited net asset value per ordinary share being 262.4p at 31^st December 2011. (249.6p at 30^th September 2011; 268.1p at 31^st October 2011)

Since the beginning of 2012, following a significant recovery in the price of the ordinary shares of Lloyds Banking Group which have risen over 60% from a low of 22p to 36p last week, the market prices of the Enhanced Capital Notes have begun to reflect this trend.  At 31^st January therefore we can report that the estimated unaudited net asset value per ordinary share had risen to 295.3p.

The Company's income continues to accrue as expected and the Directors anticipate a satisfactory outcome for the year to 31^st March 2012.

Contact:

Stephen Cockburn - Managing Director - 020 7448 4715

22^nd February 2012

 

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