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

Friday 06 January, 2012

Caledonia Inv PLC

Interim Management Statement

RNS Number : 1641V
Caledonia Investments PLC
06 January 2012
 



Caledonia Investments plc

Interim Management Statement for the quarter ended 31 December 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 maintain a progressive annual dividend.

 

Caledonia presents its interim management statement for the quarter ended 31 December 2011 and up to the date of publication.

 

 

Material events

 

o

Investments during the period totalled £51.7m, including £24.0m through the Unquoted pool for a 20% preferred equity stake in Bowers & Wilkins, a private UK company engaged in the design, manufacture and distribution of high-end audio equipment.



o

Realisations during the period totalled £35.0m, including £14.6m from the sale of Novae, the UK listed wholesale insurance underwriter, from the Quoted pool.



o

Investments and realisations each included some £11m relating to rebalancing of the Income & Growth pool. The net amount invested in global large and mid-cap equity securities through this pool at 31 December 2011 was £80.0m. This pool will continue to be dynamically managed to maximise returns.



o

During the period, the Company acquired 210,500 of its own shares for cancellation at a cost of £3.0m. These shares were bought at an average discount to NAV of 24.9%, thus benefitting NAV per share. In addition, the 572,230 shares previously held in treasury were cancelled when the discount was 27.7%.



o

An interim dividend of 11.7p per share was declared on 22 November 2011, an increase of 5.4% over last year. The dividend, totalling £6.7m, was paid on 5 January 2012 to holders of ordinary shares on the register on 9 December 2011. The ex-dividend date was 7 December 2011.



o

On 1 October and 1 November 2011 respectively, Rod Kent and Robert Woods joined the board as independent non-executive directors.

 

 

Financial position and performance summary

 


At 31 Dec 2011 

At 30 Sep 2011 

Net assets

£1,071m 

£1,091m 

NAV per share

1850p 

1876p 

Share price

1365p 

1495p 

Discount

26.2% 

20.3% 

FTSE All-Share index

2858 

2654 

1.

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

2.

31 December 2011 was the latest date on which an NAV per share was prepared.

 

At 31 December 2011, the Company had £13.5m of cash and £35.0m of debt, compared with £1.7m of cash and £15.0m of debt at 30 September 2011. The debt was drawn on the Company's £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. The company also has an overdraft facility of £10m, which is undrawn.

 

 

Investment portfolio

 

Ten largest holdings as at 31 December 2011

Name

Business

£m 

% 

Close Brothers

Financial services

121.7 

11.0 

British Empire Securities

Investment trust

85.9 

7.8 

Cobepa

Investment company

84.6 

7.7 

Bristow Group

Helicopter services

74.3 

6.7 

A.G.Barr

Soft drinks

40.2 

3.6 

Avanti Communications

Satellite communications

36.8 

3.3 

London & Stamford Property

Property investment

36.2 

3.3 

Oval

Insurance broking

32.2 

2.9 

Satellite Information Services

Broadcasting services

29.2 

2.7 

Capital Today China

Private equity funds

28.1 

2.5 



569.2 

51.5 

Other investments


539.9 

48.8 

Cash and other items


(3.0)

(0.3)

Total assets


1,106.1 

100.0 

Borrowings


(35.0)


Net assets


1,071.1 


 

 

6 January 2012

 

 

Enquiries

Caledonia Investments plc

College Hill

Will Wyatt, Chief Executive

Tony Friend

Stephen King, Finance Director

Antonia Coad

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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