Crystal Amber Fund Limited Final Results (2520R)
October 24 2013 - 2:00AM
UK Regulatory
TIDMCRS
RNS Number : 2520R
Crystal Amber Fund Limited
24 October 2013
24 October 2013
Crystal Amber Fund Limited
(the 'Fund' or the 'Company')
Final results for the year ended 30 June 2013
The Company announces its final results for the year ended 30
June 2013.
Highlights:
- Strong performance over the year with Net Asset Value ("NAV")
per share rising by 26 per cent to 133.05p per share (105.59p at 30
June 2012)
- In August 2013, share placing raises GBP26.4 million (before
expenses) and increases Fund size to over GBP100 million, with no
dilution in NAV per share to existing shareholders
- Investment Manager's fee structure revised to reinforce its
alignment with shareholders' interests. From April 2013, investment
management fees are calculated using the lower of NAV and market
capitalisation (please see Note 17)
- Aggregate realised gains of GBP4.9 million on Renishaw PLC, N
Brown Group PLC and May Gurney Integrated Services PLC
- Continued focus on investment in strong, cash generating
companies with opportunities for activism
- Successful share buy-back programme initiated to address share
price discount to NAV, which moved from 19.6% at 30 June 2012 to
0.4% at 30 June 2013. The discount at the end of September 2013 was
6.3% per cent.
- Sustained engagement with the main investments; full agenda for activism in the year ahead
- Further gains in NAV per share in current financial year with
11 per cent rise in first quarter to 30 September 2013
William Collins, Chairman, commented:
"This has been a successful year for the Fund. The strong growth
in net asset value has continued into the current year, with NAV
increasing by more than 11% in the first quarter, as our activist
strategy continues to bear fruit. The successful GBP26.4 million
fund raise in August has not only strengthened our firepower but
has given us greater flexibility to deliver on our objectives. I
look forward to the remainder of the year with confidence."
Click on, or paste the following link into your web browser, to
view the associated PDF document:
http://www.rns-pdf.londonstockexchange.com/rns/2520R_-2013-10-23.pdf
For further enquiries please contact:
Crystal Amber Fund Limited
William Collins (Chairman) Tel: 01481
716 000
Sanlam Securities UK Limited - Nominated
Adviser
David Worlidge/Simon Clements Tel: 020 7628
2200
Numis Securities Limited - Broker
Nathan Brown/Hugh Jonathan Tel: 020 7260
1426
Crystal Amber Advisers (UK) LLP -
Investment Adviser
Richard Bernstein Tel: 020 7478
9080
This information is provided by RNS
The company news service from the London Stock Exchange
END
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