Name | Symbol | Market | Type |
---|---|---|---|
Lyxor Asset Management | EU:LEM | Euronext | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.076 | -0.59% | 12.798 | 12.60 | 13.20 | 12.856 | 12.683 | 12.793 | 29,851 | 16:40:00 |
RNS Number:1015Q Leisure & Media VCT PLC 24 September 2003 LEISURE & MEDIA VCT PLC PRELIMINARY ANNOUNCEMENT OF RESULTS The Directors announce the statement of results for the period ended 30 June 2003 as follows: Chairman's statement I am pleased to present to shareholders the results for the six months ended 30 June 2003. During the first quarter of 2003 the Company completed two investments in the children's nursery sector, totalling #1.3 million, and in the second quarter a further health & fitness investment was made of #500,000, bringing the total number of private equity investments made by your Company to eight. Following the end of the period a #750,000 pub investment was completed. Together with the Company's investments in sub funds of J O Hambro Capital Management Umbrella Fund plc, 83% of the net funds raised has now been invested and the proportion of funds invested in eligible shares for VCT purposes stands at approximately 70%. The Company's portfolio now includes investments in two health and fitness businesses, two pub companies, the UK's largest football caterer, one holiday village company, the largest supplier of EPOS equipment to pubs and restaurants, and two children's nursery groups. The Investment Manager has several additional opportunities under review, including in the media sector, and hopes to complete at least one more investment before the end of 2003. At 30 June 2003, the net asset value per share including current period revenue was 94.6 pence, compared with the initial 95.0 pence raised (net of issue expenses) and 93.5 pence at 31 December 2002. Andrew Wates Chairman 24 September 2003 STATEMENT OF TOTAL RETURN (UNAUDITED) (*incorporating the revenue account) for the six months ended 30 June 2003 1 January 2003 to 30 June 2003 1 January 2002 to 30 June 2002 Revenue Capital Total Revenue Capital Total #'000 #'000 #'000 #'000 #'000 #'000 Gains/(losses) on - 219 219 - (9) (9) investments Dividends and interest 53 - 53 118 - 118 Investment management fees (20) (59) (79) (18) (55) (73) Operating expenses (99) - (99) (88) - (88) Net return on ordinary activities before taxation (66) 160 94 12 (64) (52) Taxation on ordinary activities - - - (2) 2 - Return on ordinary activities after taxation (66) 160 94 10 (62) (52) Dividend - - - - - - Transfer (from)/to reserves (66) 160 94 10 (62) (52) pence pence pence pence pence pence Return per Ordinary share (0.73) 1.76 1.03 0.11 (0.68) (0.57) * The revenue column of this statement is the revenue account of the Company. All revenue and capital items in the above statement derive from continuing operations. . BALANCE SHEET as at 30 June 2003 30 June 2003 31 December 2002 30 June 2002 Unaudited Audited Unaudited #'000 #'000 #'000 Fixed assets Investments at valuation 7,541 7,997 8,231 Current assets Debtors 21 33 33 Cash at bank 1,119 545 127 1,140 578 160 Creditors: amounts falling due within one year (94) (82) (70) Net current assets 1,046 496 90 Total assets less current liabilities 8,587 8,493 8,321 Capital and reserves Called-up share capital 91 91 91 Share premium account - 8,536 8,536 Special reserve 8,536 - - Capital reserves - realised (301) (242) (187) - unrealised 319 100 (150) Revenue reserve (58) 8 31 Equity shareholders' funds 8,587 8,493 8,321 pence pence pence Net asset value per Ordinary share 94.6 93.5 91.6 SUMMARISED STATEMENT OF CASH FLOWS 1 January 2003 to 30 June 2003 1 January 2002 to 30 June 2002 #'000 #'000 Net cash outflow from operating activities (100) (66) Capital expenditure and financial investment Purchases of fixed asset investments (1,808) (2,500) Purchases of treasury bills (4,074) (6,476) Proceeds from the sale of fixed asset - 2,069 investments Proceeds from the sale of treasury bills 6,556 7,033 Net cash inflow from capital expenditure and financial investments 674 126 Equity dividends paid - (73) Net cash inflow/(outflow) before and after 574 (13) financing Increase/(decrease) in cash 574 (13) Notes: The interim financial information has been prepared on the basis of the accounting policies set out in the statutory accounts for the year ended 31 December 2002. The calculation of basic revenue return per Ordinary share for the six months ended 30 June 2003 is based on the net deficit after taxation of #66,000 (six months to 30 June 2002: net revenue of #10,000) and 9,081,460 shares being the number of Ordinary shares in issue during the periods. The calculation of the basic capital return per Ordinary share for the six months ended 30 June 2003 is based on the net capital gain of #160,000 (six months to 30 June 2002: loss of #62,000) and 9,081,460 shares likewise. The net asset value per Ordinary share is based on net assets of #8,587,000 (31 December 2002: #8,493,000; 30 June 2002: #8,321,000) and 9,081,460 Ordinary shares in issue at the period end (31 December 2002 and 30 June 2002: 9,081,460). The Company cancelled its share premium account by Certificate of Registration of Order of the High Court of Justice, Chancery Division registered at Companies House dated 27 June 2003 and a special reserve of #8.536 million was created being the sum equal to the amount arising on the cancellation of the share premium account. This is a distributable reserve which the Company can use to fund the purchase of own shares. The financial information set out above does not constitute full statutory financial statements as defined in Section 240 of the Companies Act 1985. The financial information for the six months ended 30 June 2003 and the six months 30 June 2002 has not been audited. The Interim Report will be posted to shareholders and those on the mailing list as soon as practicable after printing. The Interim Report will also be available on request from the Company Secretary at the Company's Registered Office, Ground Floor, Ryder Court, 14 Ryder Street, London SW1Y 6QB. END This information is provided by RNS The company news service from the London Stock Exchange END IR IIFETASISFIV
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