9th Jan 2008 16:13
Caledonia Investments PLC09 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'slargest investment trusts and is self-managed. The ability to identifyopportunities through an extensive network, invest in significant stakes andbecome involved with the managements of investee companies underpins itsinvestment approach, through which it seeks to deliver both a long termshareholder return in excess of the FTSE All-Share Total Return and a positivetotal return over rolling five year periods, whilst maintaining a progressiveannual dividend. Caledonia presents its interim management statement for the quarter ended 31December 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 2007Net assets £1,351m £1,290mNAV per share - undiluted 2343p 2237pNAV per share - diluted 2314p 2212pShare price 2025p 2135pDiscount 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 assetsName Business £m %Close Brothers Merchant banking 170.4 12.6British Empire Securities Investment trust 128.7 9.5Quintain Estates Property investor/developer 64.8 4.8Bristow Group Helicopter services 58.1 4.3Oval Insurance broking 56.8 4.2Rathbone Brothers Fund management 47.9 3.5Cobepa Investment company 43.9 3.3Polar Capital funds Hedge and long only funds 41.9 3.1Alok Industries Textiles manufacturer 34.1 2.5Incisive Media Business publisher 32.1 2.4 678.7 50.2Other investments 668.8 49.5Cash and other net assets 3.9 0.3Net assets 1,351.4 100.0 Further information Caledonia publishes monthly fact sheets, which give further details of theinvestment and other activities during each month. These fact sheets and otherinformation can be found on the Company's website at www.caledonia.com. 9 January 2008 Enquiries Caledonia Investments plc Tel: 020 7802 8080Tim IngramJonathan Cartwright College Hill Associates Tel: 020 7457 2020Tony FriendRoddy Watt This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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