REG - Chelverton Grwth Tst - Half-year Report <Origin Href="QuoteRef">CHLV.L</Origin> - Part 2

Chelverton Growth TrustAnnouncement

27/04/2016 12:40

- Part 2: For the preceding part double click  ID:nRSa5324Wa 

      2,789             5,022  
                                                                                   
 At 28 February 2015                                                               
 Equity investments   2,477             -                 2,327             4,804  
 Total                2,477             -                 2,327             4,804  
 
 
5       Short term loans 
 
In November 2015 the Company borrowed £50,000 from Chelverton Asset Management
Limited. The loans of £400,000 from Jarvis Investment Management Limited and
£50,000 from Chelverton Asset Management Limited were repaid in full in
January 2016. 
 
6       Net asset value 
 
The basic net asset value per Ordinary share is based on net assets of
£4,864,000 (31 August 2015: £4,672,000; 28 February 2015: £4,820,000) and on
8,501,650 Ordinary shares (31 August 2015: 8,501,650; 28 February 2015:
9,446,274) being the number of Ordinary shares in issue at the period end. 
 
7       Post balance sheet events 
 
On 18 March 2016, pursuant to the Tender Offer, 2,124,562 Ordinary shares were
repurchased for cancellation resulting in there being 6,377,088 Ordinary
shares of 1p in issue. 
 
8       Related party transactions 
 
Under the terms of the agreement dated 28 June 2001, the Company has appointed
Chelverton Asset Management Limited to be the Investment Manager. Mr Horner, a
Director of the Company, is also a director of Chelverton Asset Management
Limited and CEPS PLC, in which the Company holds an investment as set out
above. 
 
At 29 February 2016 there was £4,000 (31 August 2015: £4,000; 28 February
2015: £4,200) payable to the Investment Manager. 
 
Mr Martin was appointed is the Chairman of Belgravium Technologies plc in
which the Company holds an investment as set out above. 
 
The three Directors also have individual holdings in Chelverton Asset
Management Holdings, a company which has Mr Horner as a director and which the
Company also has a direct holding. The Directors' holdings are detailed
below. 
 
              Loan stock  Percentage of  Ordinaryshares  Percentage of   
              held        Loan stock     held            Ordinaryshares  
                          held                           held            
              £'000       %              £'000           %               
 Mr K Allen   -           -              1               1               
 Mr D Horner  925         86             56              56              
 Mr I Martin  -           -              2               2               
 
 
The Company holds 2,000 shares in Chelverton Asset Management Limited
representing 2% of the voting rights. 
 
Directors and advisers 
 
 Directors                            Registrars and Transfer Office        
 Kevin Allen (Chairman)               Share Registrars Limited              
 David Horner                         Suite E, First Floor                  
 Ian Martin                           9 Lion and Lamb Yard                  
                                      Farnham                               
                                      Surrey GU9 7LL                        
                                      Tel: 01252 821 390                    
                                                                            
 Investment Manager                   Auditors                              
 Chelverton Asset Management Limited  Hazlewoods LLP                        
 12B George Street                    Windsor House                         
 Bath BA1 2EH                         Bayshill Road                         
 Tel: 01225 483 030                   Cheltenham GL50 3AT                   
                                                                            
 Secretary and Registered Office      Custodian and Banker                  
 ISCA Administration Limited          Jarvis Investment Management Limited  
 (appointed 21 December 2015)         78 Mount Ephraim                      
 Suite 8, Bridge House                Royal Tunbridge Wells TN4 8BS         
 Courtenay Street                     Tel: 01892 510 515                    
 Newton Abbot                                                               
 Devon TQ12 2QS                                                             
 Tel: 01392 487 056                                                         
 Email: cgw@iscaadmin.co.uk                                                 
                                                                            
 
 
Information about the Company can be obtained at the Investment Manager's
website at www.chelvertonam.com. 
 
Neither the contents of the Manager's website nor the contents of any website
accessible from hyperlinks on this announcement (or any other website) is
incorporated into, or forms part of this announcement 
 
An investment company as defined under Section 833 of the Companies Act 2006. 
 
REGISTERED IN ENGLAND No. 298951 
 
This information is provided by RNS
The company news service from the London Stock Exchange