We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Allianz Dres.2 | LSE:ADR | London | Ordinary Share | GB0004948419 | ORD 5P 2006 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1111Y Allianz Dresdr 2 Endw Policy TstPLC 28 April 2004 For immediate release 28th April 2004 ALLIANZ DRESDNER SECOND ENDOWMENT POLICY TRUST plc Six months to 31st March 2004 Investment Review - 2006 Pool The net asset value has risen from 157.1p per 2006 Share at 30th September 2003 to 159.0p per 2006 Share at 31st March 2004, an increase of 1.2 %. The 2006 Pool currently has investments in policies valued at #38.2 million from a total of 52 with-profits funds. During the six month period the 2006 Pool received proceeds of policy maturities amounting to #1.4 million. The average annualised return on these policies was 7.26%, excluding benefits arising from demutualisation. Investment Review - 2009 Pool The net asset value has risen from 119.1p per 2009 Share at 30th September 2003 to 122.9p per 2009 Share at 31st March 2004, an increase of 3.2%. The 2009 Pool currently has investments in policies valued at #28.5 million from a total of 58 with-profits funds. During the six month period the 2009 Pool received proceeds of policy maturities amounting to #0.6 million. The average annualised return on these policies was 4.75%, excluding benefits arising from demutualisation. Accrued guaranteed benefits A significant proportion of shareholders' assets is now made up of guaranteed benefits - the total of sums assured and reversionary bonuses declared to date. Projected final net asset values based on the value of guaranteed benefit accrued to date, after estimated costs and based on current interest rates, are 130.0p and 104.4p for the 2006 and 2009 shares respectively. These figures assume no further bonuses, reversionary or terminal, from 31st March 2004 and take into account future premium commitments, expenses and interest costs. Projected final net asset values The Company publishes projected final net asset values on a regular basis. These projections are based on possible future bonus rate levels, which will reflect, inter alia, the investment returns earned by the underlying with-profits funds. Projected final net asset values as at 31st March 2004 are given in the table below. 100% Current Bonus 80% Current Bonus 50% Current Bonus No further Bonuses Rates Rates Rates Projected final net asset value at 30th September 2006 (2006 Pool) 181.8p 171.9p 157.1p 130.0p Projected final net asset value at 31st December 2009 (2009 Pool) 162.9p 151.2p 134.0p 104.4p Projected final net asset values are calculated using the principal bases and assumptions set out on the last page of this announcement. They provide an indication of the sensitivity of the projected final net asset value to bonus rate changes. They should not be taken as forecasts of particular degree of change in bonus rate levels. Earnings and dividend The Company is managed with the objective of providing returns to investors entirely in the form of capital growth. The continuing deficit on the Revenue Account is consistent with this objective. Consequently, no dividend will be payable on either class of share. Status The Company operates as an approved investment trust within the meaning of Section 842 of the Income and Corporation Taxes Act 1988. Such approval has been granted for the year ended 30th September 2002 and is expected to be granted for the year ended 30th September 2003 and the current accounting year. The Company is not a close company. 155 Bishopsgate By Order of the Board London EC2M 3AD P W I Ingram Company Secretary RESULTS - 2006 POOL STATEMENT OF TOTAL RETURN Six months ended 31st March 2004 Revenue Capital Total #'000s #'000s #'000s (Note 2) Net gains on investments - 918 918 Income from fixed asset investments 48 - 48 Other income 4 - 4 Management and advisory fees (289) - (289) Expenses of administration (58) - (58) Return on ordinary activities before finance costs and taxation (295) 918 623 Finance costs of borrowings (245) - (245) Return on ordinary activities before taxation (540) 918 378 Taxation - - - Transfer (from) to reserves (540) 918 378 Return per 2006 Share (2.69)p 4.57p 1.88p NET ASSET STATEMENT #'000s As at 31st March 2004 Valuation of investments 39,667 Net Current Assets 139 39,806 Medium Term Loan (7,900) Total Net Assets 31,906 Called up Share Capital 1,004 Share Premium Account - Capital Redemption Reserve 5 Capital Reserves: Realised 10,459 Unrealised 12,958 Special Reserve 19,128 Revenue Reserve (11,648) Shareholders' Funds 31,906 Net asset value per 2006 Share 159.0p The net asset value is based on 20,073,064 2006 Shares in issue. Calculations of net asset value are based on recent open market transactions at auction, or surrender values in certain cases. RESULTS - 2009 POOL STATEMENT OF TOTAL RETURN Six months ended 31st March 2004 Revenue Capital Total #'000s #'000s #'000s ' (Note 2) Net gains on investments - 1,115 1,115 Income from fixed asset investments 38 - 38 Other income 4 - 4 Management and advisory fees (222) - (222) Expenses of administration (45) - (45) Return on ordinary activities before finance costs and taxation (225) 1,115 890 Finance costs of borrowings (133) - (133) Return on ordinary activities before taxation (358) 1,115 757 Taxation - - - Transfer (from) to reserves (358) 1,115 757 Return per 2009 Share (1.81)p 5.64p 3.83p NET ASSET STATEMENT #'000s As at 31st March 2004 Valuation of investments 29,569 Net Current Assets 349 29,918 Medium Term Loan (5,650) Total Net Assets 24,268 Called up Share Capital 197 Share Premium Account 18,925 Capital Redemption Reserve 3 Capital Reserves: Realised 4,431 Unrealised 5,651 Revenue Reserve (4,939) Shareholders' Funds 24,268 Net asset value per 2009 Share 122.9p The net asset value is based on 19,745,000 2009 Shares in issue. Calculations of net asset value are based on recent open market transactions at auction, or surrender values in certain cases. RESULTS - CONSOLIDATED STATEMENT OF TOTAL RETURN Six months ended 31st March 2004 Revenue Capital Total #'000s #'000s #'000s (Note 2) Net gains on investments - 2,033 2,033 Income from fixed asset investments 86 - 86 Other income 8 - 8 Management and advisory fees (511) - (511) Expenses of administration (103) - (103) Return on ordinary activities (520) 2,033 1,513 before finance costs and taxation Finance costs of borrowings (378) - (378) Return on ordinary activities before (898) 2,033 1,135 taxation Taxation - - - Transfer (from) to reserves (898) 2,033 1,135 NET ASSET STATEMENT #'000s As at 31st March 2004 Valuation of investments 69,236 Net Current Assets 488 69,724 Medium Term Loan (13,550) Total Net Assets 56,174 Called up Share Capital 1,201 Share Premium Account 18,925 Capital Redemption Reserve 7 Capital Reserves: Realised 14,891 Unrealised 18,609 Special Reserve 19,128 Revenue Reserve (16,587) Shareholders' Funds 56,174 RESULTS - 2006 POOL STATEMENT OF TOTAL RETURN Six months ended 31st March 2003 Revenue Capital Total #'000s #'000s #'000s (Note 2) Net losses on investments - (6,405) (6,405) Income from fixed asset investments 50 - 50 Other income 15 - 15 Management and advisory fees (308) - (308) Expenses of administration (52) - (52) Return on ordinary activities (295) (6,405) (6,700) before finance costs and taxation Finance costs of borrowings (323) - (323) Return on ordinary activities before taxation (618) (6,405) (7,023) Taxation - - - Transfer from reserves (618) (6,405) (7,023) Return per 2006 Share (3.07)p (31.87)p (34.94)p NET ASSET STATEMENT #'000s As at 31st March 2003 Valuation of investments 40,329 Net Current Liabilities (4,100) 36,229 Medium Term Loan (3,950) Total Net Assets 32,279 Called up Share Capital 1,004 Share Premium Account - Capital Redemption Reserve 4 Capital Reserves: Realised 9,382 Unrealised 13,269 Special Reserve 19,128 Revenue Reserve (10,508) Shareholders' Funds 32,279 Net asset value per 2006 Share 160.8p The net asset value is based on 20,073,064 2006 Shares in issue. Calculations of net asset value are based on recent open market transactions at auction, or surrender values in certain cases. RESULTS - 2009 POOL STATEMENT OF TOTAL RETURN Six months ended 31st March 2003 Revenue Capital Total #'000s #'000s #'000s (Note 2) Net losses on investments - (4,764) (4,764) Income from fixed asset investments 43 - 43 Other income 12 - 12 Management and advisory fees (225) - (225) Expenses of administration (37) - (37) Return on ordinary activities (207) (4,764) (4,971) before finance costs and taxation Finance costs of borrowings (141) - (141) Return on ordinary activities before taxation (348) (4,764) (5,112) Taxation - - - Transfer from reserves (348) (4,764) (5,112) Return per 2009 Share (1.76)p (24.08)p (25.84)p NET ASSET STATEMENT #'000s As at 31st March 2003 Valuation of investments 28,602 Net Current Assets 182 28,784 Medium Term Loan (5,650) Total Net Assets 23,134 Called up Share Capital 197 Share Premium Account 18,925 Capital Redemption Reserve 3 Capital Reserves: Realised 3,879 Unrealised 4,384 Revenue Reserve (4,254) Shareholders' Funds 23,134 Net asset value per 2009 Share 117.2p The net asset value is based on 19,745,000 2009 Shares in issue. Calculations of net asset value are based on recent open market transactions at auction, or surrender values in certain cases. RESULTS - CONSOLIDATED STATEMENT OF TOTAL RETURN Six months ended 31st March 2003 Revenue Capital Total #'000s #'000s #'000s (Note 2) Net losses on investments - (11,169) (11,169) Income from fixed asset investments 93 - 93 Other income 27 - 27 Management and advisory fees (533) - (533) Expenses of administration (89) - (89) Return on ordinary activities before finance costs and taxation (502) (11,169) (11,671) Finance costs of borrowings (464) - (464) Return on ordinary activities before taxation (966) (11,169) (12,135) Taxation - - - Transfer from reserves (966) (11,169) (12,135) NET ASSET STATEMENT #'000s As at 31st March 2003 Valuation of investments 68,931 Net Current Liabilities (3,918) 65,013 Medium Term Loan (9,600) Total Net Assets 55,413 Called up Share Capital 1,201 Share Premium Account 18,925 Capital Redemption Reserve 7 Capital Reserves: Realised 13,261 Unrealised 17,653 Special Reserve 19,128 Revenue Reserve (14,762) Shareholders' Funds 55,413 RESULTS - 2006 POOL STATEMENT OF TOTAL RETURN Year ended 30th September 2003 Revenue Capital Total #'000s #'000s #'000s (Note 2) Net losses on investments - (6,556) (6,556) Income from fixed asset investments 100 - 100 Other income 20 - 20 Management and advisory fees (595) - (595) Expenses of administration (102) - (102) Return on ordinary activities before finance costs and taxation (577) (6,556) (7,133) Finance costs of borrowings (640) - (640) Return on ordinary activities before (1,217) (6,556) (7,773) taxation Taxation - - - Transfer from reserves (1,217) (6,556) (7,773) Return per 2006 Share (6.05)p (32.62)p (38.67)p NET ASSET STATEMENT #'000s as at 30th September 2003 Valuation of investments 39,658 Net Current Liabilities (4,179) 35,479 Medium Term Loan (3,950) Total Net Assets 31,529 Called up Share Capital 1,004 Share Premium Account - Capital Redemption Reserve 5 Capital Reserves: Realised 9,828 Unrealised 12,672 Special Reserve 19,128 Revenue Reserve (11,108) Shareholders' Funds 31,529 Net asset value per 2006 Share 157.1p The net asset value is based on 20,073,064 2006 Shares in issue. Calculations of net asset value are based on recent open market transactions at auction, or surrender values in certain cases. RESULTS - 2009 POOL STATEMENT OF TOTAL RETURN Year ended 30th September 2003 Revenue Capital Total #'000s #'000s #'000s (Note 2) Net losses on investments - (4,060) (4,060) Income from fixed asset investments 88 - 88 Other income 15 - 15 Management and advisory fees (435) - (435) Expenses of administration (75) - (75) Return on ordinary activities before finance costs and taxation (407) (4,060) (4,467) Finance costs of borrowings (269) - (269) Return on ordinary activities before taxation (676) (4,060) (4,736) Taxation - - - Transfer from reserves (676) (4,060) (4,736) Return per 2009 Share (3.42)p (20.54)p (23.96)p NET ASSET STATEMENT #'000s As at 30th September 2003 Valuation of investments 28,761 Net Current Assets 400 29,161 Medium Term Loan (5,650) Total Net Assets 23,511 Called up Share Capital 197 Share Premium Account 18,925 Capital Redemption Reserve 3 Capital Reserves: Realised 4,231 Unrealised 4,736 Revenue Reserve (4,581) Shareholders' Funds 23,511 Net asset value per 2009 Share 119.1p The net asset value is based on 19,745,000 2009 Shares in issue. Calculations of net asset value are based on recent open market transactions at auction, or surrender values in certain cases. RESULTS - CONSOLIDATED STATEMENT OF TOTAL RETURN Year ended 30th September 2003 Revenue Capital Total #'000s #'000s #'000s (Note 2) Net losses on investments - (10,616) (10,616) Income from fixed asset investments 189 - 189 Other income 34 - 34 Management and advisory fees (1,029) - (1,029) Expenses of administration (178) - (178) Return on ordinary activities before finance costs and taxation (984) (10,616) (11,600) Finance costs of borrowings (909) - (909) Return on ordinary activities before taxation (1,893) (10,616) (12,509) Taxation - - - Transfer from reserves (1,893) (10,616) (12,509) NET ASSET STATEMENT #'000s As at 30th September 2003 Valuation of investments 68,419 Net Current Liabilities (3,780) 64,639 Medium Term Loan (9,600) Total Net Assets 55,039 Called up Share Capital 1,201 Share Premium Account 18,925 Capital Redemption Reserve 7 Capital Reserves: Realised 14,058 Unrealised 17,408 Special Reserve 19,128 Revenue Reserve (15,688) Shareholders' Funds 55,039 CASH FLOW STATEMENT - 2006 POOL Six Months to Six Months to Year to March March September 2004 2003 2003 #'000s #'000s #'000s Net cash outflow from operating activities (206) (247) (582) Servicing of Finance Interest paid (290) (135) (599) Taxation Income tax repaid - - 5 Investing activities Acquisition of investments (547) (569) (1,124) Disposal of investments 1,455 1,767 2,843 Net cash inflow from financial investment 908 1,198 1,719 Net cash inflow before financing 412 816 543 Financing Repayment of Loan Notes with Dresdner RCM Endowment Policy Trust 2003 plc (4,653) - - Increase (decrease) in medium term loans 3,950 (1,050) (667) Purchase of Ordinary Shares for cancellation - (67) (67) Net cash outflow from financing (703) (1,117) (734) Decrease in cash (291) (301) (191) CASH FLOW STATEMENT - 2009 POOL Six Months to Six Months to Year to March March September 2004 2003 2003 #'000s #'000s #'000s Net cash outflow from operating activities (238) (245) (479) Servicing of Finance Interest paid (138) (136) (203) Taxation Income tax repaid - - 1 Investing activities Acquisition of investments (471) (492) (971) Disposal of investments 778 1,786 2,810 Net cash inflow from financial investment 307 1,294 1,839 Net cash (outflow) inflow before financing (69) 913 1,158 Financing Decrease in medium term loans - (1,050) (1,050) Purchase of Ordinary Shares for cancellation - (98) (98) Net cash outflow from financing - (1,148) (1,148) (Decrease) increase in cash (69) (235) 10 CASH FLOW STATEMENT - CONSOLIDATED Six Months to Six Months to Year to March March September 2004 2003 2003 #'000s #'000s #'000s Net cash outflow from operating activities (444) (492) (1,061) Servicing of Finance Interest paid (428) (271) (802) Taxation Income tax repaid - - 6 Investing activities Acquisition of investments (1,018) (1,061) (2,095) Disposal of investments 2,233 3,553 5,653 Net cash inflow from financial investment 1,215 2,492 3,558 Net cash inflow before financing 343 1,729 1,701 Financing Repayment of Loan Notes with Dresdner RCM Endowment Policy Trust 2003 plc (4,653) - - Increase (decrease) in medium term loans 3,950 (2,100) (1,717) Purchase of Ordinary Shares for cancellation - (165) (165) Net cash outflow from financing (703) (2,265) (1,882) (Decrease) increase in cash (360) (536) (181) 2006 POOL ALLIANZ DRESDNER SECOND ENDOWMENT POLICY TRUST plc TWENTY LARGEST HOLDINGS BY LIFE OFFICE As at 31st March 2004 Life Office Value of Policies #'000s % of Total Investments Standard Life 11,226 28.3 AVIVA (Norwich Union) 5,204 13.1 Legal & General 3,464 8.7 Prudential 2,841 7.2 Prudential (Scottish Amicable) 1,811 4.6 Scottish Provident 1,666 4.2 Scottish Widows 1,470 3.7 Clerical Medical 953 2.4 Friends Provident 801 2.0 Scottish Life 664 1.7 Royal & Sun Alliance (Royal Life) 655 1.7 Equity & Law 609 1.5 Guardian 495 1.2 Colonial Mutual 470 1.2 Scottish Mutual 466 1.2 Alba Life (Crusader) 466 1.2 AVIVA (Commercial Union) 402 1.0 London Life 327 0.8 Friends Provident (UKPI) 309 0.8 National Mutual 266 0.7 Total of twenty largest holdings 34,565 87.2 Others 3,705 9.3 Total holdings of endowment policies 38,270 96.5 Fixed Interest Holdings EIB 6.125% 07/12/2005 921 2.3 EIB 7.625% 07/12/2006 476 1.2 1,397 3.5 TOTAL OF INVESTED FUNDS 39,667 100.0 2009 POOL ALLIANZ DRESDNER SECOND ENDOWMENT POLICY TRUST plc TWENTY LARGEST HOLDINGS BY LIFE OFFICE As at 31st March 2004 Life Office Value of Policies #'000s % of Total Investments Standard Life 8,108 27.4 Legal & General 4,384 14.8 Prudential (Scottish Amicable) 2,597 8.8 AVIVA (Norwich Union) 1,905 6.4 Scottish Widows 1,862 6.3 Prudential 1,214 4.1 Scottish Life 1,091 3.7 Clerical Medical 940 3.2 Friends Provident 922 3.1 Scottish Provident 723 2.5 Colonial Mutual 374 1.3 Royal & Sun Alliance (Royal Life) 319 1.1 National Mutual 310 1.0 Gresham Life 301 1.0 Sun Life of Canada 200 0.7 AVIVA (Commercial Union) 172 0.6 AVIVA (Provident Mutual) 169 0.6 Royal & Sun Alliance (Sun Alliance) 160 0.5 Eagle Star 149 0.5 Britannic Assurance 148 0.5 Total of twenty largest holdings 26,048 88.1 Others 2,447 8.3 Total holdings of endowment policies 28,495 96.4 Fixed Interest Holdings Abbey 5.375% 30/12/09 513 1.7 Finland 10.125% 22/06/08 561 1.9 1,074 3.6 TOTAL OF INVESTED FUNDS 29,569 100.0 Note 1 The Returns per 2006 Share have been calculated using a weighted average number of shares in issue during the period of 20,073,064 (30th September 2003 20,094,968; 31st March 2003 20,094,163). The Returns per 2009 Share have been calculated using a weighted average number of shares in issue during the period 19,745,000 (30th September 2003 19,764,014); 31st March 2003 19,783,132). Note 2 The revenue columns of this statement are the profit and loss accounts of the 2006 Pool, 2009 Pool or the Company. All revenue and capital items derive from continuing operations. No operations were acquired or discontinued in the period. Note 3 This interim statement has been neither audited nor reviewed by the Company's auditors. The interim statement has been prepared using the same accounting policies as those adopted in the annual accounts for the year ended 30th September 2003. The non-statutory accounts for the year to 30th September 2003 are an extract from the latest published accounts of the Company which have been delivered to the Registrar of Companies. The auditors' opinion on those accounts was unqualified and did not contain a statement under Section 237(2) or (3) of the Companies Act 1985. The Interim Report will be sent to shareholders and made available to the public at the Registered Office of the Company, 155 Bishopsgate, London EC2M 3AD. Principal bases and assumptions used in projecting the final net asset value. The final net asset values for the 2006 Pool and the 2009 Pool have been calculated as at 30th September 2006 and 31st December 2009 respectively, on the basis that: 1) All policies are held to maturity and no death claims or demutualisation benefits are received and no further purchases or disposals of policies are made. 2) The latest reversionary and terminal bonus rates declared at 31st March 2004 continue to apply until maturity or are reduced immediately by 20%, 50% or 100%. 3) The estimated mid-market gross redemption yields, as at 31st March 2004, for policies of differing remaining terms, are assumed to remain unchanged. 4) Annual expenses are assumed to be in line with recent experience, and future annual inflation is assumed to be 3%. Interest rates payable and receivable by the Company over the Company's remaining life are assumed to be consistent with the shape of the yield curve at 31st March 2004. 5) No further shares are issued or repurchased, nor are any dividends paid. For further information, please contact Simon White, RCM (UK) Limited Tel: 020 7065 1539 DRSEPT.Interim2004.1-17 This information is provided by RNS The company news service from the London Stock Exchange END IR QVLFLZZBBBBQ
1 Year Allianz Dresdr Endw Policy Tstpl Chart |
1 Month Allianz Dresdr Endw Policy Tstpl Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions