Interim Management Statement


 
TIDMAOT 
 
ANGLO & OVERSEAS PLC 
 
INTERIM MANAGEMENT STATEMENT FOR THE THREE MONTHS TO 31 OCTOBER 2010 
 
The Board of Anglo & Overseas Plc (the "Company") announces its Interim 
Management Statement for the period from 1 August 2010 to 31 October 2010. This 
statement is required by the UK Listing Authority's Disclosure and Transparency 
Rules and should not be relied upon for any other purpose. 
 
Objective 
 
The objective of Anglo & Overseas Plc is to provide shareholders with above 
average returns over the longer term through both capital appreciation and 
income growth. 
 
Review of the Period 
 
Results 
 
The net asset value total return for the Company in the three months to 31 
October 2010 was 5.6%. Although the Company's portfolio is not managed with 
reference to any stock market index, your Board continues to believe it is 
useful for comparative purposes to highlight the performance of the Company 
against market indices. In the period the total return from the FTSE All-Share 
Index was 9.0% and from the FTSE All-World ex UK Index was 7.3%. The average 
total return from these two indices was 8.1%. 
 
Share Price and Discount 
 
During the period the share price rose by 4.1% from 96.50p to 100.50p. As a 
consequence of the share price increase being lower than the rise in the net 
asset value, the share price discount to net asset value increased from 12.4% 
to 13.6%. 
 
During the period the Company did not repurchase any shares. The total number 
of shares in treasury at 31 October 2010 was 10,057,438 shares, representing 
12.1% of the total number of shares in issue of 83,275,319 shares. The total 
number of shares in circulation as at 31 October 2010 was 73,217,881 shares. 
 
There have been no transactions in the Company's own shares since 31 October 
2010. 
 
Dividend 
 
At the Annual General Meeting of the Company held on 19 November 2010 
shareholders approved a final dividend of 2.16p for the year to 31 July 2010. 
This will be paid on 30 November 2010 to shareholders on the register as at the 
close of business on 5 November 2010. The ex-dividend date was 3 November 2010. 
 
Investment Outlook 
 
Overall global equity markets achieved positive returns during the period under 
review reversing the negative returns of the previous quarter when concerns 
about government deficits were most pronounced. We continue to believe that 
there will be a relatively slow recovery in economic growth worldwide, 
particularly in developed economies. However, with a stock market where 
sentiment can swing rapidly, this can provide opportunities for investors with 
a long-term investment strategy to acquire stocks at attractive valuations. As 
a consequence we have continued to remain relatively fully invested. 
 
FINANCIAL SUMMARY 
 
                               31 October 2010     31 July 2010     % Change 
 
Net asset value per share              116.35p          110.13p         5.6% 
(including income) 
 
Share price                            100.50p           96.50p         4.1% 
 
Share price discount to net              13.6%            12.4% 
asset value 
 
Net assets                              GBP85.2m           GBP80.6m 
 
 
Past performance is not a guide to future performance. 
 
The Directors are not aware of any significant event or transactions which have 
occurred between 31 October 2010 and the date of publication of this statement 
which have had a material impact on the financial position of the Company. 
 
22 November 2010 
 
Enquiries: 
 
Sandy Nairn 
 
Kenneth Greig 
 
Edinburgh Partners Limited, 12 Charlotte Square, Edinburgh EH2 4DJ 
 
Tel: 0131 270 3800 
 
Registered Office of the Company: 
 
Beaufort House, 51 New North Road, Exeter EX4 4EP 
 
 
 
END

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