Water Hall Group Plc Additional Investments (1251E)

TIDMWTH

RNS Number : 1251E

Water Hall Group Plc

07 May 2013

For immediate release

7 May 2013

Water Hall Group plc

("Water Hall" or the "Company")

Additional investments

The Board of Water Hall announces that it has increased the Company's equity exposure by increasing its holdings of liquid investment-grade UK equities against a background of improving market conditions.

The Board has considered a number of potential investment opportunities since the beginning of the current year and believes that these new investments provide the potential for capital appreciation as well as paying dividends. The Company's primary objective is that of securing the best possible value consistent with achieving, over time, both capital growth and income for Shareholders through developing profitability coupled with dividend payments on a sustainable basis.

The Company has today completed the following investments, in accordance with its generalist investing policy:

 
 Investment             FTSE Sector                  Cost (GBP) 
---------------------  ---------------------------  ----------- 
 British American 
  Tobacco p.l.c.        Tobacco                      73,555 
                        Household Good & Home 
 Bellway plc             Construction                26,757 
 BP p.l.c.              Oil & Gas Producers          71,590 
 Chemring Group 
  PLC                   Aerospace & Defence          28,296 
 Croda International 
  Plc                   Chemicals                    50,979 
 Diageo plc             Beverages                    39,878 
 Iofina plc             Oil & Gas Producers          51,451 
 ITV plc                Media                        62,690 
                        Household Good & Home 
 Persimmon Plc           Construction                25,032 
 Provident Financial 
  plc                   Financial Services           33,782 
 Reed Elsevier PLC      Publishing                   37,740 
 Rightmove plc          Media                        19,524 
 Vodafone Group 
  Plc                   Mobile Telecommunications    68,612 
 
 Total                                               589,886 
--------------------------------------------------  ----------- 
 

As previously announced, on 11 May 2012 Water Hall completed the sale of its wholly-owned subsidiary company Water Hall (England) Limited including its wholly-owned subsidiary companies, the net disposal proceeds of which amounted to approximately GBP1,107,000 (the "Disposal Proceeds"). As a result of today's new investments, since 11 May 2012, Water Hall has now invested in aggregate GBP976,403 representing approximately 88 per cent. of the Disposal Proceeds in line with its investing policy.

In addition to the new investments, Water Hall has a 29.99 per cent. interest in Petards Group plc ("Petards"), which as at the last practicable date, was valued at approximately GBP537,889. Petards is a UK-based AIM-traded company whose activities embrace the provision of security and surveillance systems to the transport sector, in particular railways, emergency services sector, specifically the police and the UK Ministry of Defence. On 22 January 2013, Petards invited Raschid Abdullah to join the Board as a director in the capacity of executive chairman.

Water Hall also continues to hold its interest in 800,000 ordinary shares in Lloyds Banking Group plc as part of its general portfolio which as at the last practicable date were valued at approximately GBP432,400. The Board has been pleased with the recent positive performance of Lloyds Banking Group plc.

Accordingly, Water Hall's general portfolio and investment(s) in associate(s) following completion of the new investments is set out in the table below. All the investments are in UK listed ordinary shares unless stated otherwise:

 
 General Portfolio      FTSE Sector                    Current     % of General 
  Investments                                           Market        Portfolio 
                                                         Value 
                                                         (GBP) 
---------------------  ---------------------------  ----------  --------------- 
 British American 
  Tobacco p.l.c.        Tobacco                         73,555             7.2% 
                        Household Good & 
 Bellway plc             Home Construction              26,757             2.6% 
 BP p.l.c.              Oil & Gas Producers             71,590             7.0% 
 Chemring Group 
  PLC                   Aerospace & Defence             28,296             2.8% 
 Croda International 
  Plc                   Chemicals                       50,979             5.0% 
 Diageo plc             Beverages                       39,878             3.9% 
 Iofina plc (AIM)       Oil & Gas Producers             51,451             5.0% 
 ITV plc                Media                           62,690             6.1% 
 Lloyds Banking 
  Group PLC             Banks                          432,400            42.3% 
                        Household Good & 
 Persimmon Plc           Home Construction              25,032             2.4% 
 Provident Financial 
  plc                   Financial Services              33,782             3.3% 
 Reed Elsevier 
  PLC                   Publishing                      37,740             3.7% 
 Rightmove plc          Media                           19,524             1.9% 
 Vodafone Group 
  Plc                   Mobile Telecommunications       68,612             6.8% 
 
 Total General 
  Portfolio                                          1,022,286             100% 
 
 
 
 Investment(s)          FTSE Sector                    Current   % of Strategic 
  in Associate(s)                                       Market      Investments 
                                                         Value 
                                                         (GBP) 
---------------------  ---------------------------  ----------  --------------- 
 Petards Group 
  Plc (AIM)             Support Services               537,889             100% 
 Total Investment(s) 
  in Associate(s)                                      537,889             100% 
 
 

The Board continues to monitor further investment opportunities and in addition to its portfolio of equity investments set out above, has current cash balances of approximately GBP164,550 to provide working capital for its on-going costs, professional expenses and be available to fund any further investments by the Company in line with its investing strategy which would depend on investment (and realisation) opportunities and on-going costs.

Enquiries:

 
Water Hall Group Plc      www.waterhallgroupplc.com 
Raschid Abdullah          Tel: [phone] 
Beaumont Cornish Limited  Tel: [phone] 
 (Nominated Adviser and 
 Broker) 
Roland Cornish / Michael 
 Cornish 
 

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

END

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