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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Investment Company Plc | LSE:INV | London | Ordinary Share | GB0004658257 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 319.00 | 310.00 | 328.00 | 320.00 | 319.00 | 320.00 | 722 | 08:00:55 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 1.18M | 739k | 0.4022 | 7.93 | 5.86M |
TIDMINV
RNS Number : 9947K
Investment Company PLC
08 January 2021
LEI: 2138004PBWN5WM2XST62
The Investment Company PLC
(the "Company")
Interim Dividend Declaration
Portfolio Update
NAV Announcements
The Company is pleased to provide an update following the approval of the Company's new investment policy and objective at the General Meeting held on 4 November 2020, together with the declaration of an interim dividend.
Dividends
The Company announces that it has declared an interim dividend of 1 pence per ordinary share, payable on 26 February 2021 to ordinary shareholders on the register on 22 January 2021. The ex-dividend date will be 21 January 2021.
Following the implementation of the Company's new investment policy and objective, focused on protecting the purchasing power of its capital in real terms, payment of dividends is not the key objective of the Company. The Company will therefore discontinue its policy of paying quarterly dividends and will instead make any dividend declarations on an annual basis. As a result, the directors do not intend to declare any further dividends until after the end of the current financial year ending 30 June 2021 and future dividends, if any, will reflect any excess income from the investment portfolio after accounting for the Company's costs.
Portfolio Update
The Company has made substantial progress in transitioning its portfolio away from the historical income focus and towards the new objectives of protecting the purchasing power of its capital and participating in enduring businesses. Though this transition is still ongoing, the directors are pleased to provide details of the portfolio as at 31 December 2020, shown in the table below, as an indication of the progress made so far.
Further updates will be provided at the time of the release of the Company's interim results for the six months ended 31 December 2020, which are expected to be released in February 2021.
Unaudited portfolio as at 31 December 2020 Security Country Holding Value (GBP) % Hal Trust Netherlands 10,000 1,047,261 6.8% Bakkafrost Faroe Islands 15,000 785,008 5.1% Tonnellerie François Frères Group France 25,000 597,476 3.9% Unilever UK 13,300 584,136 3.8% British American Tobacco UK 21,000 568,680 3.7% Franco-Nevada Canada 6,000 548,975 3.6% Emmi Switzerland 700 527,766 3.4% Lucas Bols Netherlands 55,000 485,410 3.2% Rio Tinto UK 8,320 455,104 3.0% Strix Group Isle of Man 208,636 454,826 3.0% Imperial Oil Canada 32,000 443,388 2.9% Barrick Gold Canada 25,000 416,453 2.7% Bucher Industries Switzerland 1,200 402,814 2.6% ForFarmers Netherlands 70,000 333,333 2.2% Safilo Group Italy 300,000 202,336 1.3% Diageo UK 6,600 189,948 1.2% Total equity participations 8,042,914 52.3% ------------ ------- Six Hundred Group 8% 14/02/2022 UK 500,000 435,000 2.8% Intercede Group 8% 29/12/2021 UK 450,000 360,000 2.3% Renold 6% Preference Shares UK 422,109 363,014 2.4% Northgate 5% Preference Shares UK 532,763 181,139 1.2% Other legacy holdings Various 118,204 0.8% Total fixed income & other legacy holdings 1,457,356 9.5% ------------ ------- Invesco Physical Gold ETC UK 15,000 2,012,364 13.1% WisdomTree Physical Gold ETC UK 11,500 1,510,169 9.8% WisdomTree Physical Swiss Gold ETC Switzerland 9,000 1,201,558 7.8% Total gold 4,724,091 30.7% ------------ ------- Sterling Cash 1,221,865 7.9% Other liabilities net of other assets (59,053) -0.3% Total cash and other net assets 1,162,362 7.6% ------------ ------- Total Assets 15,386,723 100.0% ------------ -------
NAV Announcements
As announced on 5 January 2021, the Net Asset Value ("NAV") per Ordinary Share (including unaudited current period revenue) at 31 December 2020 was 322.43 pence.
To reflect the long term nature of the Company's portfolio and to reduce the costs and administrative burden on the Company, announcements of the Company's NAV will in future be made on a monthly basis, following the month end, rather than weekly as was the previous practice.
Enquiries
The Investment Company Ian Dighé, Chairman +44 (0) 20 3934 6630 info@theinvestmentcompanyplc.co.uk Shore Capital (Financial Adviser and Broker) Robert Finlay +44 (0) 20 7408 4090 Rose Ramsden Maitland Administration Services Faith Pengelly +44 (0) 1245 950317
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END
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January 08, 2021 02:00 ET (07:00 GMT)
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