Information  X 
Enter a valid email address

Caledonia Inv PLC (CLDN)

  Print      Mail a friend       Annual reports

Monday 06 July, 2009

Caledonia Inv PLC

Interim Management Statement

RNS Number : 1541V
Caledonia Investments PLC
06 July 2009
 




Caledonia Investments plc


Interim Management Statement for the quarter ended 30 June 2009


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 30 June 2009 and up to the date of publication.


Material events


o

Investments during the period, totalling £23.2m, included a further £9.5m in a rights issue by Alok Industries, the Indian listed textiles company.



Realisations during the period totalled £2.2m.



o

final dividend of 23.5p, totalling £13.5mwas proposed in respect of the year ended 31 March 2009. The ex-dividend date is 8 July 2009 and the dividend will be paid on 13 August 2009 to holders of shares on the register on 10 July 2009, subject to approval by shareholders at the annual general meeting to be held on 23 July 2009.

  Financial position and performance summary



At 30 Jun 2009 

At 31 Mar 2009 

Net assets

£994

£906m 

Diluted NAV per share

1706

1559p 

Share price

1552

1289p 

Discount

9.0

17.3

FTSE All-Share index

2172 

1984 

1.

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

2.

30 June 2009 was the latest date on which an NAV per share was prepared.


At 30 June 2009, the Company had £39.7m of net liquidity, compared with £55.5m at 31 March 2009. The Company also has £100m of committed term bank facilities through two bilateral agreements for £50m five year revolving credit facilities with ING and The Royal Bank of Scotland, arranged in July 2008, together with an overdraft facility of £10m. None of the facilities are presently drawn.



Investment portfolio


Ten largest holdings as at 30 June 2009




Net assets 

Name

Business

£m 

% 

Close Brothers

Merchant banking

128.9 

13.0 

British Empire Securities

Investment trust

109.0 

11.0 

Cobepa

Investment company

48.1 

4.8 

Oval

Insurance broking

46.1 

4.6 

Bristow Group

Helicopter services

43.0 

4.3 

Rathbone Brothers

Fund management

37.4 

3.8 

Eddington Capital funds

Funds of hedge funds

35.8 

3.6 

Melrose Resources

Oil and gas E&P

29.1 

2.9 

Avanti Communications

Satellite communications

25.8 

2.6 

Polar Capital funds

Hedge and long-only funds

24.6 

2.5 

 

 

527.8 

53.1 

Other investments


433.2 

43.6 

Cash and other net assets


33.0 

3.3 

Net assets

 

994.0 

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 www.caledonia.com.



6 July 2009


Enquiries

Caledonia Investments plc

College Hill Associates

Tim Ingram, Chief Executive

Tony Friend

Jonathan Cartwright, Finance Director

Roddy Watt

Tel: 020 7802 8080

Tel: 020 7457 2020



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