The AIM Distribution Trust plc (UK) – Interim Management Statement

Interim Management Statement

The AIM Distribution Trust plc

Interim Management Statement

for the three months ended 31 December 2009

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority, The AIM Distribution Trust plc presents an Interim Management Statement for the three month period ended 31 December 2009. The statement also includes relevant financial information between the end of the period and the date of this statement.

Dividends paid or declared in the period

On 30 November 2009, the Board declared an interim dividend of 1.75p per share which was paid to Shareholders on 18 December 2009.

Performance

31 Dec

2009

30 Sept

2009

31 Mar

2009

Pence Pence Pence
Net Asset Value (“NAV”) 36.50 39.50 33.60
Cumulative dividends since launch 57.55 55.80 55.80
Total Return * 94.05 95.30 89.40

* (NAV plus cumulative dividends paid since launch)

Investment portfolio summary at 31 December 2009

Cost Valuation Valuation

movement

since

30 Sept

2009 *

£’000 £’000 £’000
Ten largest investments by value
ANS Group plc Listed on Plus 201 483 (28)
Connaught plc Full list 27 390 (53)
Doubletake Portraits Limited Unquoted 250 358
Cadbury House Holdings Limited Unquoted 319 319
Printing.com plc 178 254 14
Spice plc Full list 256 219 (77)
Supporta plc 250 211 106
Atlantic Global plc 310 186 (12)
Hoole Hall Spa and Leisure Limited Unquoted 120 120
Deltex Medical Group plc 233 107 18
Other venture capital investments 5,557 681 (4)
Listed fixed income securities 558 294 7
Other investments 403 467 28
Total 8,662 4,089 (1)

All investments are quoted on AIM unless otherwise stated.

* After accounting for purchases in period

Investment additions during the 3 months ended 31 December 2009

Cost
£’000
Cadbury House Holdings Limited ** 319
Tristel plc 38
357

** During the period, the Company invested £319,000 in Cadbury House Holdings Limited, which comprised reinvestment of the proceeds of the disposal from Cadbury House Limited of £319,000.

After the period end, the Company acquired shares in Mears Group plc following a share for share takeover of Supporta plc.

Investment disposals during the 3 months ended 31 December 2009

Cost

Market

value at

1 April

2009 *

Disposal

proceeds

Gains/(loss)

in period

against cost

Total

realised

gain/

(loss)

£’000 £’000 £’000 £’000 £’000
Cadbury House Limited 319 319 319
Connaught plc 3 31 38 35 7
The Medical House plc 171 44 90 (81) 46
Waterline plc 243 5 64 (179) 59
736 399 511 (225) 112

* Adjusted for purchases since 1 April 2009.

In addition to the share for share takeover of Supporta, noted above, since the period end the Company has also disposed of its holdings in Cellcast plc, The Real Good Food Company plc, and a partial holdings in the Bluecrest Allblue Fund, with proceeds thereon received of £89,000.

Changes to share capital

Ordinary Shares of

25p each

Shares £’000
As at 1 October 2009 13,140,436 3,285
Shares bought back and cancelled
As at 31 December 2009 13,140,436 3,285

There have been no shares bought back for cancellation since the period end.

Merger discussions

On 30 November 2009, the Company announced that it is in merger discussions with Pennine AIM VCT 5 plc and Pennine AIM VCT 6 plc and that any merger is expected to be by way of a “scheme of reconstruction” pursuant to S.110 of the Insolvency Act 1986. Merger discussions are ongoing.

Material events

Other than described above, there were no material events during the period from 1 October 2009 to 31 December 2009 or in the period from 1 January 2010 to the date of this announcement.

HUGIN /Source: The AIM Distribution Trust plc /LSE: AMD /ISIN: GB0000116375

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