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Caledonia Inv PLC (CLDN)

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Wednesday 06 July, 2011

Caledonia Inv PLC

Interim Management Statement

RNS Number : 8890J
Caledonia Investments PLC
06 July 2011
 



Caledonia Investments plc

Interim Management Statement for the quarter ended 30 June 2011

 

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 2011 and up to the date of publication.

 

 

Material events

 

o

Investments during the period, totalling £64.9m, including the following: £43.9m in a range of large and mid-cap global securities in support of the Company's newly established Income and Growth pool of investments, intended to increase the overall level of portfolio; and £6.5m in a £30m placing by Eredene Capital, the UK listed investor in Indian infrastructure.



o

Realisations during the period totalled £5.8m.

 

 

Financial position and performance summary

 


At 30 Jun 2011 

At 31 Mar 2011 

Net assets

£1,263m 

£1,259m 

Diluted NAV per share

2167p 

2165p 

Share price

1713p 

1725p 

Discount

21.0% 

20.3% 

FTSE All-Share index

3097 

3068 

1.

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

2.

30 June 2011 was the latest date on which an NAV per share was prepared.

 

At 30 June 2011, the Company had £35.7m of net liquidity, compared with £101.2m at 31 March 2011. The Company also has £100m of committed term bank facilities through two bilateral agreements for £50m revolving credit facilities with ING and The Royal Bank of Scotland, expiring in July 2013, together with an overdraft facility of £10m. None of the facilities are presently drawn.

 

 



Investment portfolio

 

Ten largest holdings as at 30 June 2011

Name

Business

£m 

% 

Close Brothers

Financial services

151.4 

12.0 

British Empire Securities

Investment trust

108.8 

8.6 

Cobepa

Investment company

85.6 

6.8 

Bristow Group

Helicopter services

77.3 

6.1 

Avanti Communications

Satellite communications

47.1 

3.7 

A.G.Barr

Soft drinks

44.9 

3.6 

Oval

Insurance broking

41.6 

3.3 

London & Stamford Property

Property investment

41.0 

3.2 

Satellite Information Services

Broadcasting services

38.5 

3.1 

Quintain Estates

Property services

33.2 

2.6 



669.4 

53.0 

Other investments


570.5 

45.1 

Cash and other net assets


23.5 

1.9 

Net assets


1,263.4 

100.0 

 

 

6 July 2011

 

 

Enquiries

Caledonia Investments plc

College Hill

Will Wyatt, Chief Executive

Tony Friend

Stephen King, Finance Director

Roddy Watt

Tel: 020 7802 8080

Tel: 020 7457 2020

 

END

 

Caledonia publishes monthly fact sheets, which give further details of the investment and other activities during each month. These fact sheets and other information are available on the Company's website at www.caledonia.com. Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.


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