AMN Asset Man Inv

 

TIDMAMN 
 
RNS Number : 3212X 
Asset Management Investment Co.PLC 
12 August 2009 
 

Asset Management Investment Company PLC 
("the Company") 
 
Interim Management Statement (Unaudited) - Quarter ended 30 June 2009 
 
This Interim Management Statement is for the quarter ended 30 June 2009 and is 
provided in accordance with Rule 4.3 of the Disclosure and Transparency Rules of 
the UK Listing Authority. 
 
 
This Statement relates to the financial information from 1 April 2009 to 30 June 
2009 and contains information giving an indication of the material events and 
transactions that have taken place during the period from 1 April 2009 to the 
date of  issue of this statement. 
 
 
This statement has been prepared to provide additional information in pursuance 
of the relevant requirements of the UK Listing Authority Disclosure and 
Transparency Rules, and should not be relied on by shareholders, or any other 
party, for any other purpose. 
 
 
Financial Information: 
 
 
Unaudited Net Asset Value per share ("NAV") 
 
 
The Net Asset Value* ("NAV") of 65.95p (ex-income) per ordinary share as at 30 
June 2009 compared to the NAV as at 31 March 2009 of 67.22p (ex-income) per 
ordinary share, representing a decrease of 1.9%. 
 
 
* The NAV is unaudited and calculated in accordance with Association of 
Investment Companies ("AIC") guidelines. The net asset value per share includes 
debt at fair value (calculated as the sterling equivalent of the USD denominated 
loan at the daily closing rate). Unlisted securities are normally revalued on a 
monthly basis. 
 
 
Share Price Performance: 
 
 
The Company's share price increased from 46.75p per ordinary share on 31 March 
2009 to 61.50p per ordinary share on 30 June 2009, representing an increase of 
31.50% 
 
 
Investments and Disposals: 
 
 
During the quarter ended 30 June 2009, no new investments were made in 
accordance with the investment objective of effecting an orderly realisation of 
the investment portfolio in order to return capital to shareholders. 
 
During the same period the Company completed the sale of MMCM Holdings on 17 
July 2009 to the MMCM management at a nominal sum of US$100 and Columbus 
Financial Services has been dissolved. The Company's Board had made a full 
provision against the value of these investments a few years ago. 
 
 
There were no other material transactions during the period. 
 
 
Portfolio on 30 June 2009: 
Name of company and class of share: 
 
 
City of London Investment Group plc, Ordinary 
Integrated Asset Management plc, Ordinary 
IFDC S.A. Group, Ordinary 
International Foreign Exchange Concepts Holdings, Inc, 10% Loan Note 2011 
Lombardia Capital Partners LLC, Ordinary 
Lombardia Capital Partners LLC, 8% Convertible Note 2011 
The Mayberry Group, Inc, Ordinary 
 
 
Portfolio Distribution on 30 June 2009: 
 
 
+------------------+------------------+ 
| United Kingdom   | 24%              | 
+------------------+------------------+ 
| North America    | 50%              | 
+------------------+------------------+ 
| Continental      | 20%              | 
| Europe           |                  | 
+------------------+------------------+ 
| Cash and fixed   | 06%              | 
| interest         |                  | 
+------------------+------------------+ 
 
 
Company Statistics on 30 June 2009: 
 
 
+------------------+------------------+ 
| Gross Assets     | GBP14.5m         | 
+------------------+------------------+ 
| Shareholders     | GBP12.9m         | 
| Funds (cum       |                  | 
| income)          |                  | 
+------------------+------------------+ 
| Shareholders     | GBP12.1m         | 
| Funds (ex        |                  | 
| income)          |                  | 
+------------------+------------------+ 
 
 
Material events and transactions: 
 
 
Interim dividend: 
 
 
The Company will pay an interim dividend of 2.5 pence net per share on 14 August 
2009 to shareholders on the register at 24 July 2009. 
 
 
Share buy back: 
 
 
During the period from 1 April 2009 to the date of issue of this statement the 
Company bought back 100,000 ordinary shares at a total cost of GBP62,813. The 
Company has previously bought back 542,500 ordinary shares at a total cost of 
GBP261,239 bringing the total bought back to date in this financial year to 
642,500 at a total cost of GBP324,052. At the date of issue of this statement 
the Company's issued share capital consisted of 18,365,333 ordinary shares in 
issue. 
 
 
Investec Bank (UK) Limited loan facility: 
 
 
The fourth tranche of $4 million due from FX Concepts was received on 2 July 
2009 by Investec Bank reducing the borrowings on the term facility to NIL. The 
loan redemption derivative payable to Investec Bank remains to be settled and is 
currently valued by the Company at GBP137,534. 
 
 
Outlook: 
 
 
As mentioned in the Chairman's statement in the Interim Report posted to all 
shareholders on 21 May 2009, the considerable uncertainties in the financial 
markets may take some time to resolve. Operating conditions for asset management 
companies in general continue to be challenging, but your Board are confident 
that the principal investments in the portfolio should produce a satisfactory 
performance. 
 
 
Other than described above, the Board is not aware of any material events during 
the period from 1 April 2009 to 30 June 2009, or in the period from 1 July 2009 
to the date of this statement, which would in any way have a material impact on 
the financial position of the Company 
 
 
By order of the Board: 
 
 
Bharat Bhagani 
Company Secretary 
Asset Management Investment Company PLC 
12 August 2009 
Telephone: 0207 618 9040 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IMSILFEITLIFLIA 
 

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