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”).


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.


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.


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.


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.


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.


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.


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.


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.


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

 Information  X 
Enter a valid email address

Caledonia Inv PLC (CLDN)

  Print      Mail a friend       Annual reports

Wednesday 09 January, 2008

Caledonia Inv PLC

Interim Management Statement

Caledonia Investments PLC
09 January 2008

Caledonia Investments plc

Interim Management Statement for the quarter ended 31 December 2007

Caledonia Investments plc ('Caledonia' or the 'Company') is one of the UK's
largest investment trusts and is self-managed. The ability to identify
opportunities through an extensive network, invest in significant stakes and
become involved with the managements of investee companies underpins its
investment approach, through which it seeks to deliver both a long term
shareholder return in excess of the FTSE All-Share Total Return and a positive
total return over rolling five year periods, whilst maintaining a progressive
annual dividend.

Caledonia presents its interim management statement for the quarter ended 31
December 2007 and up to the date of publication.

Material events

o   £19.5m invested in London & Stamford Property, an AIM listed property fund.

o   £2.0m purchase of a fifth FTSE 250 index put option, making an aggregate investment at cost in such
    options of £10.0m.

o   £22.4m net increase in the quarter in the value of the investment in Oval, an unlisted insurance
    broker, as a result of a third party share transaction.

o   An agreement to sell the Company's interest in Marketform, an unlisted insurance business, which
    resulted in an increase of £4.5m in the value of this investment.

o   9.9p interim dividend declared, totalling £5.7m. The ex-dividend date was 5 December 2007 and the
    dividend was paid on 8 January 2008 to shareholders registered on 7 December 2007.

o   224,229 own shares purchased into treasury at an average price of 2004p. At 31 December 2007, the
    Company held 412,229 shares in treasury. There were no further purchases of own shares up to the date
    of this statement.

o   £27.9m of net liquidity at 31 December 2007, compared with £36.1m at 30 September 2007.

Performance summary

                                                                 At 31 Dec 2007         At 30 Sep 2007
Net assets                                                              £1,351m                £1,290m
NAV per share - undiluted                                                 2343p                  2237p
NAV per share - diluted                                                   2314p                  2212p
Share price                                                               2025p                  2135p
Discount                                                                  13.6%                   4.6%
FTSE All-Share index                                                       3287                   3317

NAVs per share are calculated on a cum-income basis.

Discount is calculated by reference to the undiluted NAV per share.

31 December 2007 was the latest date on which an NAV per share was prepared.

Investment portfolio

Ten largest holdings
                                                                                            Net assets
Name                                 Business                                         £m             %
Close Brothers                       Merchant banking                              170.4          12.6
British Empire Securities            Investment trust                              128.7           9.5
Quintain Estates                     Property investor/developer                    64.8           4.8
Bristow Group                        Helicopter services                            58.1           4.3
Oval                                 Insurance broking                              56.8           4.2
Rathbone Brothers                    Fund management                                47.9           3.5
Cobepa                               Investment company                             43.9           3.3
Polar Capital funds                  Hedge and long only funds                      41.9           3.1
Alok Industries                      Textiles manufacturer                          34.1           2.5
Incisive Media                       Business publisher                             32.1           2.4
                                                                                   678.7          50.2
Other investments                                                                  668.8          49.5
Cash and other net assets                                                            3.9           0.3
Net assets                                                                       1,351.4         100.0

Further information

Caledonia publishes monthly fact sheets, which give further details of the
investment and other activities during each month. These fact sheets and other
information can be found on the Company's website at

9 January 2008


Caledonia Investments plc                                  Tel: 020 7802 8080
Tim Ingram
Jonathan Cartwright

College Hill Associates                                    Tel: 020 7457 2020
Tony Friend
Roddy Watt

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