5th Feb 2008 10:24
Oryx International Growth Fund Ld05 February 2008 ORYX INTERNATIONAL GROWTH FUND LIMITED INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2007 Oryx International Growth Fund Limited ("Oryx" or the "Company"), is publishingthis interim management statement in accordance with DTR 4.3 of the FSAHandbook. This interim management statement has been produced solely to provide additionalinformation to shareholders as a body to meet the relevant requirements of theUK Listing Authority's Disclosure and Transparency Rules. It should not berelied upon by any other party or for any other purpose. This interim management statement relates to the period from 1 October 2007 to31 December 2007, and contains information that covers this period, and up tothe date of publication of this interim management statement, unless otherwisespecified. Material Transactions There were no material transactions during the quarter ended 31 December 2007. The Board is not aware of any significant events or transactions which haveoccurred between 31 December 2007 and the date of publication of this interimmanagement statement which would have a material impact on the financialposition of the Company. Material Events Conversion of C shares As stated in the Interim Report, on 12 October 2007 the Company's C Shares wereconverted into Ordinary Shares at a ratio of 0.34581 Ordinary Shares for everyone C Share. 8,637 Ordinary Shares remain to be cancelled. These Ordinary Shares arose from 24,978 C Shares acquired as part of the proceeds on an underlying investment. Following the conversion the Company's issued share capital is: 24,828,739 Ordinary Shares of 50 pence each with ISIN GB0006630163, of which8,637 Ordinary Shares are held by the Company pending their cancellation. Therefore, the total number of voting rights in the Company is 24,820,102. Interim Report On 27 November 2007, the Company posted its Interim Report to 30 September 2007,to Shareholders. Result of AGM All the Ordinary Resolutions put to the Annual General Meeting of the Companyheld on 9 November 2007, were passed. In addition, the Special Resolution towind the Company up was voted down by over 98% of the proxies received andaccordingly the Company will continue and will not be wound up. There were no other material events to report during the period under review. General During the period under review the net asset value fell by 11.5%, anunderperformance as compared to the FTSE Small Cap Indices which on a totalreturn basis fell by 8.9%. Poor performances from two of the Company's largestholdings, Georgica and Inspired Gaming contributed -2.9% and -1.1% respectivelyto the under-performance. Despite this setback the Manager believes thefundamentals of the investee companies are sound and the opportunities to addadditional value remain. Market volatility has continued at unprecedented levels, however the Fund has noexposure to financials and limited exposure to the property sector which shouldoffer a degree of protection, and as institutions look for safe harbours awayfrom the small and mid cap sectors, this will create opportunities for theCompany over the year. Financial Highlights 31 December 30 September 30 June 2007 31 March 2007 2007 2007 NAV £2.84 £3.19 £3.45 £3.30 Mid-marketprice 303.00p 310.00p 317.50p 302.50p FTSE All-ShareIndex 3,286.67 3,316.89 3,404.14 3,283.21 Standard & Poor's 500CompositeIndex** 737.6 749.4 766.6 709.8 Russell 2000** 384.8 395.3 414.9 408 US Dollar /SterlingExchange Rate 1.9906 2.03737 2.009 1.9625 ** Sterling adjusted Twenty Largest equity Investments at 31 December 2007 Equities - UK / Europe - Listed % Gleeson (MJ) Group PLC 6.32Telecom Plus Plc 5.97Inspired Gaming Group Plc 5.16BBA Aviation Plc 4.79AssetCo Plc 4.41Castle Support Services plc 3.87Georgica Plc 3.63Communisis Plc 3.59Mid-States Plc 3.46Augean Plc 3.46Electronic Data Process Plc 3.45Bavaria Industriekap 3.41Payzone Plc 3.33RPC Group Plc 3.06Quarto Group Plc 2.46Ashtead Group Plc 2.37Whatman Plc 2.17Sirvis IT Plc 2.14Shieldtech Plc 2.02Tinopolis Plc 1.97 ----------% of total portfolio 71.04 The financial information for the quarter ended 31 December 2007 containedwithin this interim management statement has not been audited. By order of the Board Sara Radford, for and on behalf ofOryx International Growth Fund Limitedas Company Secretary This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Oryx International Growth