Trading Statement (9306W)
November 29 2010 - 2:00AM
UK Regulatory
TIDMSIAG
RNS Number : 9306W
Sherborne Investors (Guernsey) A
29 November 2010
Sherborne Investors (Guernsey) A Limited
29 November 2010
Trading Statement
Net Asset Value
At 31 October 2010, the unaudited net asset value attributable
to shareholders of Sherborne Investors (Guernsey) A Limited (the
"Company") was GBP106,911,028, or 101.82 pence per share based on
105,000,000 shares outstanding. The Company's net asset value was
based on the closing price of 67.00p at 29 October 2010 for the
shares of F&C Asset Management plc ("F&C"). F&C's
shares subsequently closed at 76.00p on 26 November 2010.
Dividend
On 22 October 2010, F&C paid a dividend of 1.0 pence per
share to shareholders on the register at 1 October 2010, of which
the Company was one. The Company's Board is, in turn, declaring a
dividend of 0.7 pence per share to be paid on 30 December 2010 to
shareholders of record at 10 December 2010.
Selected Consolidated Financial Information at 31 October
2010
Cash and Cash Equivalents(1) GBP48,736,745
Shareholding in F&C shares 51,092,267
CFDs relating to shares in F&C 35,768,746
Total Investment in F&C shares (shares + CFDs)
86,861,013
Cost Basis of F&C Investment(2) GBP53,965,737
Cost Basis per Share of F&C Investment(2) 62.13p
Cost Basis per Share of F&C Investment (post-dividend)
61.16p
F&C Closing Share Price at 29 October 2010 67.00p
Post-Closing Activities
Subsequent to 31 October 2010, the Company entered into a
further 781 555 CFDs relating to shares in F&C at a total cost
of GBP591,190, including fees and commissions. The Company's total
investment in F&C is now 87,642,568 shares and CFDs with a
total cost basis of GBP54,554,865, or 62.25p per share.(2) The cost
basis per share after adjusting for F&C's dividend is now
61.29p. F&C's shares closed at 76.00p on 26 November 2010.
Notes
(1) The Company provides counterparties with cash collateral
equal to the initial contract value of CFDs, the amount for which
has been excluded from Cash and Cash Equivalents.
(2) Represents the cost basis of shares plus the initial
contract value of CFDs, exclusive of fees and commissions. Figures
are prior to adjusting for the receipt of F&C's dividend, the
proceeds from which are included in Cash and Cash Equivalents.
Enquiries:
Financial Dynamics +44 (0)20 7269 7170
Jonathon Brill / Billy Clegg
Sherborne Investors (Guernsey) A Limited +44 (0)14 8172 1672
Ian Brindle (Chairman)
RBS Hoare Govett Limited (Nominated Adviser) +44 (0)20 7678
8000
John MacGowan / Luke Simpson / Gary Gould
This information is provided by RNS
The company news service from the London Stock Exchange
END
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