Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Caledonia Inv PLC (CLDN)

  Print      Mail a friend       Annual reports

Monday 07 July, 2003

Caledonia Inv PLC

Statement re. Press Comment

Caledonia Investments PLC
07 July 2003


                                   Caledonia


The Board of Caledonia Investments plc ('the Company') has noted the today's
press speculation.  The Company confirms that it has received a proposal for a
restructuring of the Company.  The restructuring would involve a total
realisation of the Company's assets over an uncertain period of time.  There is
no certainty as to the amount that would be realised or what would ultimately
become available to shareholders, but the Board believes it would be at a
significant discount to the Company's current net asset value.  The Board has
considered the proposal with its advisers, N M Rothschild & Sons Limited and
Cazenove & Co Ltd, and with the benefit of that advice has unanimously concluded
that the proposal is not in the best interests of its shareholders. Shareholders
will be kept informed of any relevant developments.


The Board's deliberations on these proposals are against a backdrop of its
successful record of delivering total shareholder return outperformance against
its benchmark of the FTSE All-Share.  It has outperformed this benchmark by 33%
and 78% over the last five and ten years to 30 June 2003 respectively.
Caledonia has also performed strongly over the shorter term with 19%
outperformance for the 12 months to 30 June 2003. Its superior performance
places it in the top quartile of the AITC peer group over each of these periods.
  Caledonia has a policy of delivering progressive annual dividends with a
36year record of unbroken annual dividend increases.


The Board of Caledonia continues to believe that its strategy, as set out in its
circular to shareholders on 16 January 2003, which was overwhelmingly endorsed
by shareholders at the EGM on 12 February 2003, is in the best interest of all
shareholders.



                                                                     7 July 2003






ENQUIRIES:

Caledonia                                               Tel: +44 (0)20 7802 8080
Tim Ingram
Chief Executive

College Hill                                            Tel: +44 (0)20 7457 2020
Alex Sandberg
Tony Friend







 NOTES TO EDITORS



Caledonia is a long established investment company with international scope
listed on the London Stock Exchange.  Since April 2003 Caledonia has been
classified in the AITC Global Growth sector of investment trusts where its
investment performance puts it in the top quartile by reference to one, five and
ten year total shareholder returns for the period to 30 June 2003.  Caledonia's
strategy has delivered outperformance against its benchmark FTSE All-Share Total
Return index of 33% over the five year period to 30 June 2003 and 79% over the
ten year period to 30 June 2003.  Its total shareholder return outperformance
for the 12 months to 30 June 2003 was 19%.  Caledonia has a policy of delivering
progressive annual dividends with a 36-year record of unbroken annual dividend
increases. Through holding a diversified portfolio, Caledonia aims to maintain a
medium overall risk position.

At 30 June 2003, Caledonia had an unaudited Net Asset Value of 1084p per
ordinary share before the deduction of 18p per share for the final dividend as
proposed by the directors in relation to the year ended 31 March 2003.  Based on
the share price as at the end of June 2003 the discount to its Net Asset Value
per share was 22.4%.

Subject to approval at the Annual General Meeting to be held on 18 July 2003 the
proposed final dividend of 18p per share will be paid on 31 July 2003 to
shareholders on the register at the close of business on 4 July 2003.  The
shares were marked ex-dividend on 2 July 2003.

Caledonia's strategy is to focus on a portfolio of around 30 to 40 principal
investments, where it has significant and influential stakes with a policy that
at least 50% of the total portfolio should be in quoted securities or other
liquid assets.  New investments will typically be in the range £10 million to
£25 million. Careful control is exercised over costs, notwithstanding
Caledonia's active and participative management style. The Board believes that
Caledonia has a long established and valuable reputation for being a supportive
long term investor, which brings a strong deal flow of opportunities not always
available to others.

Caledonia's investments are focused on a selected range of sectors where it has
good in-house knowledge that can add value to management of investee companies.
Where particular expertise is not held in-house, investments may be made through
third party managed funds where Caledonia will often seek a significant stake in
the management company.

Caledonia's selected sectors are: Financial: comprising 32% of total assets,
including holdings in Close Brothers, ICAP and Rathbone Brothers; Leisure and
Media: comprising 20% of the total assets, including holdings in Kerzner
International and The Sloane Club; Managed General Funds: comprising 17% of the
total assets includes holdings in British Empire Securities and a fund managed
by Aberforth Partners; Industrial and Services: comprising 16% of the total
assets, including investments in Offshore Logistics and Amber Industrial;
Property: comprising 11% of the total assets, including the holding in Quintain
Estates; Technology: comprising 2%; and other: comprising 2% of the total
assets.   The percentages of the total assets quoted are as at 30 June 2003.

With investment trust status Caledonia will not be subject in the future to
liability for corporation tax on chargeable gains.  As a result, Caledonia
believes it will be able to build greater value for shareholders and be more
appealing to retail shareholders which ultimately should contribute towards a
lower discount of Caledonia's share price to Net Asset Value per share.


Caledonia is a member of the Association of Investment Trust Companies (AITC).


For further information please visit www.caledonia.com





                      This information is provided by RNS
            The company news service from the London Stock Exchange