25 May 2006
ANNOUNCEMENT TO STOCK EXCHANGE GRAPHITE ENTERPRISE TRUST PLC
The Board of Graphite Enterprise Trust PLC announces that the net asset value per share as at 31 March 2006 was 414.3p, after the accrual of the dividend announced on 15 March 2006 of 4.3p per share. This represents an increase in net asset value per share of 4.0% in the three months to 31 March 2006 and compares with a rise of 7.1% in the FTSE All-Share Index in the quarter.
The summary balance sheet as at 31 March 2006 is set out below:
£m |
% of total assets |
|
Investment portfolio |
173.0 |
48.3% |
FTSE 100 Call Option |
26.7 |
7.4% |
| Total portfolio | 199.7 |
55.7% |
| Net current assets | 158.6 |
44.3% |
| Total assets | 358.3 |
100.0% |
In the three months to 31 March 2006, additions to the investment portfolio were £28.8 million, and disposals were £41.1 million. New commitments to funds were £61.1 million, taking total commitments at 31 March 2006 to £179.7 million.
Following the recent falls, the FTSE All-Share Index is now at almost exactly the same level as it was at the beginning of the year. We estimate that the net asset value of the company has risen slightly in the year to date.