Crystal Amber Regulatory News (CRS)

24 October 2013

Crystal Amber Fund Limited

(the 'Fund' or the 'Company')

Final results for the year ended 30 June 2013

The Company announces its final results for the year ended 30 June 2013.

Highlights:

- Strong performance over the year with Net Asset Value ("NAV") per share rising by 26 per cent to 133.05p per share (105.59p at 30 June 2012)

- In August 2013, share placing raises £26.4 million (before expenses) and increases Fund size to over £100 million, with no dilution in NAV per share to existing shareholders

- Investment Manager's fee structure revised to reinforce its alignment with shareholders' interests. From April 2013, investment management fees are calculated using the lower of NAV and market capitalisation (please see Note 17)

- Aggregate realised gains of £4.9 million on Renishaw PLC, N Brown Group PLC and May Gurney Integrated Services PLC

- Continued focus on investment in strong, cash generating companies with opportunities for activism

- Successful share buy-back programme initiated to address share price discount to NAV, which moved from 19.6% at 30 June 2012 to 0.4% at 30 June 2013. The discount at the end of September 2013 was 6.3% per cent.

- Sustained engagement with the main investments; full agenda for activism in the year ahead

- Further gains in NAV per share in current financial year with 11 per cent rise in first quarter to 30 September 2013

William Collins, Chairman, commented:

"This has been a successful year for the Fund. The strong growth in net asset value has continued into the current year, with NAV increasing by more than 11% in the first quarter, as our activist strategy continues to bear fruit. The successful £26.4 million fund raise in August has not only strengthened our firepower but has given us greater flexibility to deliver on our objectives. I look forward to the remainder of the year with confidence."

http://www.rns-pdf.londonstockexchange.com/rns/2520R_-2013-10-23.pdf 

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