Interim Management Statement
October 07 2009 - 7:13AM
UK Regulatory
TIDMUSPI
GLOBAL SPECIAL OPPORTUNITIES TRUST PLC
Interim Management Statement for the Quarter ended 31 August 2009
Investment Objective
The investment objective is for the portfolio to be managed to provide the
Shareholders with capital growth, for the Income Shareholders to be repaid
their final adjusted capital entitlement on 31 May 2011 of 120.82p per Income
Share and for the portfolio to be managed so as to provide the Capital
Shareholders with a cash return on or shortly after 31 May 2011. The Directors
will seek to distribute substantially all of the net revenue to Income
Shareholders by way of dividend, although this is not expected to be a material
amount.
Financial Highlights
31 August 2009 31 May % change
2009
Income share NAV 59.62p 50.33p 18.46
Mid price 41.00p 38.50p 6.49
Capital share NAV 0.00p 0.00p n/a
Mid price 1.51p 1.76p (14.20)
Unit (1 Cap and 1 Inc share) NAV 59.62p 50.33p 18.46
Mid price 41.50p 38.25p 8.50
Russell 2000 Index total return 2,511.40 2,194.48 14.44
($)
Russell 2000 Index total return 1,543.58 1,358.48 13.63
(GBP)
US Dollar/Sterling exchange rate 1.62980 1.61255 1.07
Material Events and Transactions
Banking arrangements
The Company has a US$500,000 revolving credit facility with Allied Irish Banks
Plc. At 31 August 2009 the Company had utilised the full amount of this
facility.
Annual General Meeting
The Company is pleased to announce that, at the Annual General Meeting held on
Monday 5 October 2009, all the following resolutions were passed on a show of
hands;
1) To receive and, if thought fit, to accept the reports of the Directors and
Auditor and the audited accounts for the year ended 31 May 2009.
2) To receive and, if thought fit, to accept the Directors' remuneration report
for the year ended 31 May 2009.
3) To re-elect Rory Macleod as a Director of the Company.
4) To re-elect Stephen White as A Director of the Company.
5) To re-appoint Grant Thornton UK LLP as Auditor to the Company and to
authorise the Directors to determine their remuneration.
6) Section 166 authority to purchase up to 14.99% of the Income shares.
7) Section 166 authority to purchase up to 14.99% Capital shares.
8) To authorise the Company to hold General Meetings on 14 days notice.
Top TenHoldings
Company Sector % of netassets
Bovie Medical Corporation Healthcare services 15.84
Sinohub Electronic components 12.26
Global Axcess Corporation Commercial services 8.91
Cover-All Technologies Information technology 7.84
Pipeline Data Business services 6.80
Integrated Security Systems Security products 5.83
Ideation Acquisition Business acquisitions 4.05
Corporation
Wonder Auto Technologies Financial services 3.52
Hollysys Automation Electronic equipment 3.44
Technologies
Asian Financial Industrial machinery 3.05
Further Information
Daily prices, company announcements, Reports and Accounts and monthly fact
sheets are available at www.premierassetmanagement.co.uk.
7 October 2009
END
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