Announcements

02 May 2019

The unaudited net asset value of Athelney Trust was 236.3p at 30 April 2019.

15 April 2019

Athelney Trust PLC

Legal Entity Identifier:

213800ON67TJC7F4DL05

Appointment of Directors

Athelney Trust plc is pleased to announce the appointment of Dr Manny Pohl and Simon Moore as Non-executive Directors of the Company, effective immediately, reflecting resolutions carried at the AGM. Simon Moore will also chair the Audit Committee.

The Board of Directors comprises:

Mr Frank Ashton Executive Chairman

Mr David Lawman Non-executive Director

Dr Manny Pohl Non-executive Director and Fund Manager

Mr Simon Moore Non-executive Director

Biographies for all Directors can be found on the Company website www.athelneytrust.co.uk.

The Directors are aware that the role of Executive Chairman is not compliant with the UK Corporate Governance Code, but explained the need by its announcement on 8 February 2019. The position will be reviewed by the end of May 2019, as previously announced; the Directors believe that the Company will have resolved most of the temporary challenges driving the need for an Executive Chairman by this time.

The board will survey the opinions of shareholders by telephone and in person, as more than 20% voted against some recommendations made by the board prior to the AGM. A report on the survey will be made available in due course as required by the AIC Code of Governance.

The Directors also welcome feedback from all shareholders; their email addresses are below. Alternatively please contact the Company Secretaries on 01326 378 288 and they will pass your comments to the Directors.

frankashton@athelneytrust.co.uk

mannypohl@athelneytrust.co.uk

simonmoore@athelneytrust.co.uk

05 April 2019

The unaudited net asset value of Athelney Trust was 224.5p at 28 March 2019.

04 April 2019

At the AGM held on 3 April 2019.

Resolution Votes For Votes Against Votes Witheld
1 1,584,211 95,000 Nil
2 1,679,211 Nil Nil
3 1,575,211 95,000 9,000
4 895,593 762,618 1,000
5 792,237 885,974 1,000
6 1,583,211 Nil 96,000
7 961,586 621,625 96,000
8 958,586 624,625 96,000
9 863,443 719,768 96,000
10 898,974 780,237 Nil
11 790,331 780,237 108,643
12 793,974 876,237 9,000

29 March 2019

The company was notified on 28 March 2019 of significant shareholding movements as detailed on the TR-1 forms announced on the London Stock Exchange.

27 March 2019

Amendment to the Chairman's letter accompanying the Notice of the Company's Annual General Meeting

It has come to the company's attention that a typographical error in the Chairman's letter accompanying the Notice of the company's Annual General Meeting, to be held on 3 April 2019, may have given shareholders the impression that the board were seeking authority to issue shares which would expire on 30 April 2019.

In fact, as is clear from the text of the resolution itself, set out as resolution 7 in the Notice of the AGM, the authority, if granted, would expire at the 2020 AGM or, if later, 30 April 2020.

The Company has received legal advice to the effect that this typographical error will not affect the validity of the resolution if duly passed, but wishes to draw it to the attention of shareholders to minimise the possibility of confusion.

20 March 2019

Athelney Board letter to Shareholders

Shareholders will be aware that prior to despatch of the AGM notice on 5 March 2019, the Company received a requisition from shareholder and former Chairman Dr Pohl requiring consideration at the AGM of resolutions that would return him and Mr Moore to the Board and remove David Lawman. Shareholders will also recall that Dr Pohl and Mr Moore were removed as directors at a General Meeting held on 22 January 2019. It is clear that Dr Pohl's intention is to take control of the Board and return the management to the position just after Robin Boyle's resignation. Your board considers this would not be in the best interest of all shareholders and would return the Company to a failed formula. If you are a shareholder please vote for your current board, Frank Ashton, Helen Sachdev and David Lawman and against the resolutions proposed by Dr Pohl.

Specifically your Board recommends that at the AGM to be held on 3 April 2019, you vote:

FOR - Resolutions 1 to 9

AGAINST - Resolutions 10, 11 and 12

The Board would like to draw your attention to the following information and urges you to consider it carefully when casting your votes by proxy or in person. If you have already sent in your proxy and wish to change your vote you must submit another proxy form as soon as possible in advance of the AGM. Proxy votes must be received by the company secretary or registrars no later than 2pm Monday 1 April, 2019. Further forms are available from the company secretary John Girdlestone or Debbie Warburton (who can be contacted on +44 01326 378288 or by email at john@gw-accountants.co.uk).

Following trading activity since the publication of our Annual Report on 5 March the Board would like to inform shareholders of the following points:

A large number of Athelney Trust plc shares have been traded since 5 March 2019, the end of our closed period.

More than 100,000 of these shares were acquired by Dr Pohl, majority shareholder of Global Masters Fund, based in Australia and were purchased from shareholders outside the top five.

As a result, Athelney Trust plc now fails Section 1158 of the Corporation Tax Act (CTA) 2010 Chapter 3 Regulation 18, as it is deemed under the control of five or fewer participators. The trading activity of Dr Pohl (who as former Chairman and MD of the company may have been aware of these regulations), created this threat to the Company's status as an approved investment trust, exempt from Corporation Tax. Since the law changed on 1 January 2012 to be based on continuous self-assessment such a serious breach would normally result in immediate loss of approved investment trust status (and loss of exemption from Corporation Tax) for the whole of 2019.

Since January 2019, the Board was aware that five shareholders held in excess of 49% of the shares risking an accidental Chapter 3 breach. Keen to protect the interest of the majority of shareholders, the Board has explored options to reduce risk. As soon as we were aware the "five shareholders, max 50%" breach had occurred we took tax legal advice on our chosen option and can now confirm that our approved investment trust and tax exempt status is intact.

This relies on the s446 Companies Act 2010 exemption: Athelney Trust plc is a quoted company with more than 35% of voting shares held by the public, being traded on the London Stock Exchange over the past 12 months. We also understand from our advice that if a major shareholder becomes a director, it increases our risk of a further breach under s446 as their shares are no longer deemed public.

We will continue to monitor this situation closely and ask that by voting for the current board, you help to improve the stability of the Company

The Board, in the interests of all shareholders, is determined to remain independent of the two major shareholders and is keen to broker a reasonable outcome that will meet most shareholder needs.

Your board has the following specific comments on Dr Pohl's resolutions and points raised by him in support of those resolutions:

The Board believes the actions of major shareholder blocks in the past six months have led directly to substantial additional costs and this must stop if the Company is to have a viable future.

Of the £90,000 extra costs incurred to date during this dispute between the two major shareholders, just under £70,000 was already spent and committed by Directors at the time, Mr Moore and Dr Pohl, during the three months up to the GM on 22 Jan 2019.

Dr Pohl's trading actions have created yet more uncertainty and incurred further costs in time and resources for the Company. Given his position as a Director in the past we believe he should be well aware of these consequences.

Dr Pohl's AGM resolutions return the Company to last year's management team, Mr Moore and Dr Pohl who failed to foresee and prevent the circumstances that led to heavy cost and uncertainty for all other shareholders.

Contrary to Dr Pohl's comments the Board continues to work effectively alongside the Company Secretaries whose experience and knowledge is much appreciated in assisting us with the current challenges. We could not have produced the Annual Report or this tax solution without mutual support. We will review all service providers regularly as most efficient companies would do, choosing partners suited to our current size. At the moment conditions make this combined team more resolute and determined to act as one in the interest of the many.

Dr Pohl's AGM resolutions do not solve the problems - they encourage another swing of the pendulum, exacerbated by the absence of independent voices on the Board and a return to yesterday's team.

Future Plan

We reiterate our support for the UK-based fund management group, Gresham House, who with the continued support of Robin Boyle, we recommend will act as future Fund Managers for the Company. Given their successful track record, we believe this represents the best option for our shareholders as a whole. As an independent board of directors, we are fully committed to acting, as is proper, in the interests of all shareholders. Contrary to suggestions in Dr Pohl's letter to shareholders, neither Frank Ashton nor Helen Sachdev have had any relationship or conversation with Gresham House prior to their appointment to the Board. However, with due diligence and given the need to return the Company to stability as soon as possible, the Board believes this is a very good partnership long term for all shareholders and might still satisfy both Dr Pohl's and Robin Boyle's needs.

Therefore we ask that you vote to keep the current independent Board members Frank Ashton and Helen Sachdev in place to represent all shareholder voices. We assert that because of David Lawman's long relationship with the Trust and as a valued member of the Board, he should be supported and remain in his position as a Non-Executive Director. In particular he brings the following:

Extensive experience in the small quoted company arena both in understanding shareholder needs and the regulatory process.

He is a long term shareholder in Athelney Trust through his SIPP.

He is known to many shareholders whom he has met on numerous occasions.

Having stepped down as Chairman, he has paved the way for the Board to now be genuinely independent.

Frank Ashton, Chairman, comments: "As your Chairman, I encourage shareholders to retain the existing Board structure and personnel. I believe that with our plan we are very well positioned to support the growth of the fund once stability is achieved. As always my door remains firmly open and I welcome further meetings and conversations with you as shareholders; your feedback and thoughts are very much valued."

Enquiries:
Athelney Trust plc
Frank Ashton, Chairman 07802 158370 frankashton@athelneytrust.co.ukor c/o Company Secretary john@gw-accountants.co.uk
IFC Advisory 0203 934 6630 athelney@investor-focus.co.uk
Graham Herring / Tim Metcalfe / Miles Nolan /

18 March 2019

Dr. Manny Pohl Letter to Shareholders


Dear Fellow Shareholders

I am writing to you ahead of the Annual General Meeting on 3 April 2019 when we will all be voting on resolutions required in terms of the Companies Act and a few that I have proposed. The purpose of this letter is to explain my reasons for the additional agenda items and why I believe we should remove the current Board in its entirety, appoint Simon to the Board and definitely not authorise the issue of any shares by the current directors.

In essence my rationale for these recommendations is based on the following observations:

There is zero alignment of interest between the current directors, Gresham House (who recommended their appointment) and the shareholders of Athelney. Gresham House clearly have their own agenda to pursue and none of the current directors' have taken the time to acquaint themselves with the other Athelney shareholders as Simon Moore had done during his brief stint as a director and Chairman. Furthermore, as far as I am aware, neither Gresham House nor any of the current directors own any shares in Athelney, a requirement in any small company to ensure alignment of interest.

Athelney has always been an extremely well-run Investment Trust with a low-cost structure and a compliance regime suitable for a small company. It would appear that the current directors have increased the cost base with increased travel and consultant fees, using corporate governance as the reason which is modern parlance for a complete lack of experience in the running of the relevant business.

In a recent Royal Commission into the Financial Services Industry, Justice Haynes found that the poor performance of financial institutions was due to a failure at Board level to ensure an appropriate culture, governance structure and remuneration system. While he confirmed that Boards of Companies are responsible to shareholders, they also have an obligation to all stakeholders such as employees, service providers and customers and more importantly, in the execution of their duties the Boards cannot and must not involve themselves in the day to day management of the Corporation. The current board, in spite of having no meaningful funds management experience, have on a number of occasions attempted to interfere in both stock selection and asset selection, both of which are not the responsibility of the board but of the investment manager, not only contractually but also as indicated by Justice Haynes as a requirement to ensure good corporate governance.

Athelney has always had a culture best described as one of a personalised touch, provided not only by Robin Boyle but also by John Girdlestone and his team at GW & Co. The current sidelining by the Board of GW & Co with the clear intention of replacing them by a larger firm, implies that their many years of amazing service to Athelney actually means nothing. I find this disgraceful, destroying the firm culture and also contrary to the findings of Justice Haynes.

Simon Moore has a long career in investment trusts and has a strong reputation in the sector. He will bring a deep understanding of Athelney Trust, fellow shareholders, other stakeholders and the technical details required of running an investment trust, all of which the current board lack.


I have made an offer to Robin to work with Simon and I over the next two years to bring about an orderly transition and have received no response.


The annual report contains a detailed explanation of our approach to investing. In addition, I urge shareholders to google my name to see what I stand for and what I have accomplished. I hope you will consider what I have to say and vote as I suggest.


Yours faithfully,


Dr Manny Pohl B.Sc (Eng), MBA, DBA, FAICD, MSAFAA, F Fin

4 March 2019

14 March 2019

Standard form for notification of major holdings

06 March 2019

Athelney Trust PLC

Legal Entity Identifier:

213800ON67TJC7F4DL05

Annual Financial Report – Amendment

In the RNS announcement released on 5 March 2019 it was stated that:

These dates were incorrectly provided to Athelney Trust plc by its Registrar and should be as follows;

the record date is the 22 March 2019.

05 March 2019

Athelney Trust announce annual financial statements to 31 December 2018.    (Link to PDF)

04 March 2019

The unaudited net asset value of Athelney Trust was 235.9p at 28 February 2019.

08 February 2019

ATY Corporate Governance Update - explanation of non-compliant Executive Chairman role (.pdf)

Athelney Trust plc

Legal Entity Identifier:

213800ON67TJC7F4DL05

Appointment of Directors

Athelney Trust plc is pleased to announce the appointment of Helen Sachdev as a Non-Executive Director of the Company, effective immediately. In addition, the Company announces that Frank Ashton, currently a Non-Executive Director of the Company, has also been appointed Executive Chairman of the Company with immediate effect.

Helen Sachdev

Helen Sachdev, aged 53, is currently Non-Executive Director and Audit Chair of Loughborough Building Society, and was Non-Executive Director of Communisis plc, the leading provider of personalised customer communication services, until its acquisition in December 2018. Helen is also currently a Director with the coaching consultancy, WOMBA.

Helen is a Fellow of the Chartered Institute of Management Accountants and has a BA (Hons) in Retail Marketing from Manchester Metropolitan University. Helen brings a wealth of experience as a non-executive director, underpinned by extensive blue chip executive experience having worked in senior positions at Barclays plc, Tesco and Sainsbury’s, and she has a proven track record of operational expertise, corporate development and strategy implementation.

The current Board of the Company therefore comprises:

All directors sit on both the Audit and Remuneration Committees, and Helen Sachdev will Chair the Audit Committee.

It is recognised that Frank Ashton’s role as Executive Chairman is not compliant with the UK Corporate Governance Code. However after full consideration by the Board it is deemed appropriate at this critical time for the Company. As well as being a critical time in the financial reporting cycle the board is negotiating transition to the Company’s future external Fund Management with Gresham House Asset Management. This was supported implicitly by voting at the EGM on 22 January 2019. A detailed explanation of the non-compliant position is available on the Company’s website ( pdf link), as is the result of the EGM voting and 11 January 2019 statement on the EGM.

To the best of their knowledge, a majority of the Directors, namely Frank Ashton and Helen Sachdev, have no current or prior connection with any major shareholder of Athelney Trust plc.

Frank Ashton, Chairman of Athelney Trust plc, said:

“I am delighted to welcome Helen Sachdev to the Athelney Trust Board, joining David Lawman and myself.

“We now have a strong Board that I believe has the necessary experience and expertise to stabilise Athelney and move it forward to the next stage of its growth. I look forward to introducing each director to shareholders, and talking more about our plans for the Company’s future, at the next scheduled meeting which is the Annual General Meeting on 3rd April 2019.”

Listing Rule disclosures

Helen Sachdev was a Director of Communisis PLC until December 2018.

There are no further details or disclosures required under Listing Rule 9.6.13R in respect of Helen Sachdev.

01 February 2019

The unaudited net asset value of Athelney Trust was 233.4p at 31 January 2019.

25 January 2019

Athelney Trust plc is pleased to announce the appointment of Frank Ashton as a Non-Executive Director of the Company, effective immediately.

25 January 2019

The Board announce the immediate resignation of Mr Paul Coffin as Director of the Company.

22 January 2019

Legal Entity Identifier:

213800ON67TJC7F4DL05

At the EGM held on 22 January 2019.

The results of the EGM are as follows;

Agenda Item 1

Proposed Tender off and placing by the company

FOR 1,006,104

AGAINST 868,310

WITHELD 1,000

Agenda item one passed

Ordinary Resolution 1

Proposed re-appointment of Robin Boyle as a Director of the Company

FOR 914,209

AGAINST 961,205

WITHELD 0

Resolution not passed.

Ordinary Resolution 2

Proposed appointment of David Lawman as a Director of the Company

FOR 993,409

AGAINST 881,005

WITHELD 1,000

Resolution passed.

Ordinary Resolution 3

Proposed appointment of Paul Coffin as a Director of the Company

FOR 985,909

AGAINST 888,505

WITHELD 1,000

Resolution passed.

Ordinary Resolution 4

Proposed termination of Dr Emmanuel Pohl as a Director of the Company

FOR 975,920

AGAINST 899,494

WITHELD 0

Resolution passed.

Ordinary Resolution 5

Proposed termination of Simon Moore as a Director of the Company

FOR 901,958

AGAINST 899,494

WITHELD 73,962

Resolution passed.

Ordinary Resolution 6

Proposed termination of Jemma Jackson as a Director of the Company

FOR 974,920

AGAINST 899,494

WITHELD 1,000

Resolution passed.

Ordinary Resolution 7

Proposed termination of Jason Pohl as alternate Director of the Company

FOR 974,920

AGAINST 900,494

WITHELD 0

Resolution passed.

Ordinary Resolution 8

No Directors were appointed since the notice of the EGM

Resolutions 1 to 8 were passed unanimously with 42 voting FOR and representing 1,302,011 shares. No votes AGAINST and no votes WITHHELD.

11 January 2019

Athelney Trust Plc – EGM 22 January 2019

Please find enclosed Robin Boyle's statement ahead of the EGM to be held on 22 January 2019.

By way of additional background information, the Board also enclose a copy of the Citywire Interview completed by Robin Boyle on the 7 January.

https://citywire.co.uk/investment-trust-insider/news/small-cap-veteran-boyle-seeks-to-oust-board-of-athelney-trust/a1188425

Robin Boyle Statement

31 December 2018

The unaudited net asset value of Athelney Trust was 226p at 31 December 2018.

28 December 2018

Athelney Trust PLC

Legal Entity Identifier:

213800ON67TJC7F4DL05

Athelney Trust Plc

Notice of Extraordinary General Meeting

Notice is hereby given that an Extraordinary General Meeting of Athelney Trust Plc will be held at 11.30 am on Tuesday 22 January 2019 at Druces LLP, Salisbury House, London Wall, London, EC2M 5PS, for the purpose of considering Agenda item one, and if thought fit, passing the following Ordinary Resolutions:  EGM Notice

19 December 2018

On 19 December 2018, The Director Simon Moore purchased 10,000 shares in Athelney Trust at 250p. His total shareholding is now 50,000 shares.

19 December 2018

On 19 December 2018, Global Masters Fund purchased 30,000 shares in Athelney Trust at 250p. 

The Fund now holds 379,640 shares representing 17.59% of the issued share capital in Athelney Trust Plc.

17 December 2018

Athelney Trust PLC

Legal Entity Identifier:

213800ON67TJC7F4DL05

Corporate Action

Athelney Trust is undertaking extensive consultation with shareholders and potential new investors, which may lead to a tender offer for any existing shareholders who wish to exit, coinciding with an issue of new shares.

Directors and their advisers will be contacting shareholders directly. Any shareholder wishing to discuss this is invited to contact the Company Secretary – Secretary@AthelneyTrust.co.uk.

The end result should be an enlarged trust with supportive shareholders. One of the benefits of a larger size should mean a reduced ongoing charge figure as fixed costs would be spread over a larger asset base.

A further announcement will be made at the end of this consultation process.

Manny Pohl, Managing Director, Athelney Trust, said "Following the departure of Robin Boyle, who had managed the company since launch, we want to help those investors who wish to exit their holding. At the same time, we will be looking to raise additional funds to invest in line with our stated investment policy. This policy remains to provide shareholders with prospects for long term capital growth, with the risks inherent in small cap investment minimised through a spread of holdings across various industries and sectors, whilst aiming to maintain a progressive dividend yield. The end result should be a fund larger in size than it is at the moment, which should reduce our ongoing charge figure and improve liquidity, without incurring significant issue costs."

Background Information

Dr. Emmanuel (Manny) Pohl

Manny is Chairman and Chief Investment Officer of E C Pohl & Co (“ECP”), an investment management company and has been a major shareholder in Athelney Trust for many years.

E C Pohl & Co is licensed by the Australian Financial services (licence no.421704).

www.ecpohl.com

www.ecpam.com

Manny Pohl and the ECP group has in excess of AUD1000m under its management including four listed investment companies, three listed in Australia and one in the UK:

Athelney Trust plc Investment Policy

The investment objective of the Trust is to provide shareholders with prospects of long-term capital growth with the risks inherent in small cap investment minimised through a spread of holdings in quality small cap companies that operate in various industries and sectors. The Fund Manager also considers that it is important to maintain a progressive dividend record.

The assets of the Trust are allocated predominantly to companies with either a full listing on the London Stock Exchange or a trading facility on AIM or ISDX. The assets of the Trust have been allocated in two main ways: first, to the shares of those companies which have grown steadily over the years in terms of profits and dividends but, despite this progress, the market rating is favourable when compared to future earnings and dividends; second, to those companies whose shares are standing at a favourable level compared with the value of land, buildings or cash in the balance sheet.

Athelney Trust was founded in 1994. In 1996 it was on of the ten pioneer members of the Alternative Investment Market (“AIM”). In 2008 the shares became fully listed on the main market of the London Stock Exchange. Athelney Trust has a successful progressive dividend growth record and the dividend has grown every year since 2004. According to the Association of Investment Companies (AIC) Athelney Trust is one of only “22 investment companies that have increased their dividend every year between 10 and 20 years – the next generation of dividend heroes” (as at 20/03/2018).

05 December 2018

The unaudited net asset value of Athelney Trust was 238.5p at 30 November 2018.

03 December 2018

Appointment of Director

The Board of Athelney Trust is pleased to announce the appointment of Jemma Jackson as a Non-Executive Director of the company. The appointment commenced on 1 December 2018 and will continue until the next Annual General Meeting.

Jemma Jackson, 41, has a long record in the investment company sector, spending 16 years at the Association of Investment Companies (AIC). She worked on a diverse range of issues, managing the AIC's media relations as part of a highly regarded, award-winning team.

Jemma also has broad asset management, wealth management and investment platform experience, leading the public relations at Seven Investment Management for almost two years, before moving on to join Interactive Investor. She holds a first class degree in English and History from University of Wales, Swansea.

Simon Moore, Chairman adds: "I am delighted to have Jemma on board. She is an energetic, experienced and highly regarded champion of the investment company sector. She will be instrumental in promoting Athelney Trust and our new fund manager to a wider audience."

31 October 2018

The unaudited net asset value of Athelney Trust was 242p at 31 October 2018.

01 October 2018

Athelney Trust (ATY) - Directorate Change

It is with regret that the Board announces the sudden resignation of Robin Boyle as Managing Director and Fund Manager with immediate effect, his resignation was as a result of the non-executive Directors overruling his request to bring about major changes in the management of the Company.

Dr. Emmanuel (Manny) Pohl, current Athelney Trust Chairman, will take over both roles. Simon Moore will take over the role of Chairman. Robin remains a significant shareholder.

Manny is Chairman and CEO of E C Pohl & Co ("ECP"), an investment management company and a majority shareholder in Global Masters Limited, which in turn has been a major shareholder in Athelney Trust for many years. Manny has a long investment track record running highly rated listed investment companies in Australia (note 1) and has spent the last 12 months running a UK equity portfolio in parallel with Athelney Trust that has performed extremely well.

We thus expect a smooth transfer of management of Athelney Trust and a continued focus on both capital growth and dividend growth from UK equities.

We would like to thank Robin for twenty-four years of managing Athelney Trust, over which period shareholders have been amply rewarded in both dividend income and capital growth (note 2). His interesting, insightful and witty contributions to Athelney Trust publications will be much missed.

Note 1

Morningstar's report "Australian Institutional Sector Survey" published in September 2018 shows ECP Asset Management's Flagship Fund as the 2nd best performing Australian Equity strategy out of 66 peers and ECP Asset Management as the top performer amongst 21 funds investing in Australian Small Companies. ECP has AUD700m under management.

Note 2

Athelney Trust was founded in 1994. In 1996 it was one of the ten pioneer members of the Alternative Investment Market ("AIM"). In 2008 the shares became fully listed on the main market of the London Stock Exchange. Athelney Trust under Robin Boyle has a successful progressive dividend growth record starting from 1p in 1995 to 8.9p in 2018. The dividend has grown every year since 2004. According to the Association of Investment Companies (AIC) Athelney Trust is one of only "22 investment companies that have increased their dividend every year between 10 and 20 years - the next generation of dividend heroes"

30 September 2018

The unaudited net asset value of Athelney Trust was 257.2p at 30 September 2018.

31 August 2018

The unaudited net asset value of Athelney Trust was 260.2p at 31 August 2018.

31 July 2018

The unaudited net asset value of Athelney Trust was 261.0p at 30 July 2018.

20 July 2018

Athelney Trust announce interim financial statements to 30 June 2018. (Link to PDF)

30 June 2018

The unaudited net asset value of Athelney Trust was 264.2p at 30 June 2018.

25 June 2018

The Board announce that effective from 1 July 2018 they have appointed as stockbroker James Sharp & Co. as replacement to Speirs & Jeffrey Limited.

31 May 2018

The unaudited net asset value of Athelney Trust was 266.7p at 31 May 2018.

30 April 2018

The unaudited net asset value of Athelney Trust was 264.0p at 30 April 2018.

26 April 2018

On the 26 th April 2018 Mr Jonathon Addison resigned as the alternate Director for the Chairman Dr. Emmanuel Pohl.

Mr Jason Pohl was appointed by the Board as his replacement.

The Board would like to take the opportunity to thank Jonathon for his support over the past 8 years and wish him well for the future.

13 April 2018

On 13 April 2018 the Director S Moore acquired 8,000 shares at £2.35 in Athelney Trust plc. His total shareholding is now 40,000 shares.

31 March 2018

The unaudited net asset value of Athelney Trust was 259.6p at 31 March 2018.

21 March 2018

At the AGM held on 21 March 2018 resolutions 1 to 8 were passed unanimously with 42 voting FOR and representing 1,302,011 shares. No votes AGAINST and no votes WITHHELD.

28 February 2018

The unaudited net asset value of Athelney Trust was 273.4p at 28 February 2018.

16 February 2018

Athelney Trust announce annual financial statements to 31 December 2017. (Link to PDF)

31 January 2018

The unaudited net asset value of Athelney Trust was 279.4p at 31 January 2018.

31 December 2017

The unaudited net asset value of Athelney Trust was 284.8p at 31 December 2017.

30 November 2017

The unaudited net asset value of Athelney Trust was 280.1p at 30 November 2017.

31 October 2017

The unaudited net asset value of Athelney Trust was 283.8p at 31 October 2017.

30 September 2017

The unaudited net asset value of Athelney Trust was 277.1p at 30 September 2017.

31 August 2017

The unaudited net asset value of Athelney Trust was 270.5p at 31 August 2017.

31 July 2017

The unaudited net asset value of Athelney Trust was 270.5p at 31 July 2017.

25 July 2017

Athelney Trust announce interim financial statements to 30 June 2017. (Link to PDF)

30 June 2017

The unaudited net asset value of Athelney Trust was 268.7p at 30 June 2017.

22June 2017

On 22 June 2017, Global Masters Funds purchased 52,281 shares in Athelney Trust at 254p. The Fund now holds 349,640 shares representing 16.2% of the issued share capital in Athelney Trust plc.

31 May 2017

The unaudited net asset value of Athelney Trust was 270.9p at 31 May 2017.

30 April 2017

The unaudited net asset value of Athelney Trust was 262.6p at 30 April 2017.

31 March 2017

At the AGM held on 30 March 2017.

Resolutions 1 to 6 were passed unanimously with 39 votes for representing 1,256,449 shares. No votes against and no votes withheld.

Resolutions 7 to 8 were passed unanimously with 37 votes for representing 1,196,449 shares. 60,000 votes against and no votes withheld.

Resolution 9 was passed unanimously with 39 votes for representing 1,256,449 shares. No votes against and no votes withheld.

31 March 2017

The unaudited net asset value of Athelney Trust was 251.4p at 31 March 2017.

28 February 2017

The unaudited net asset value of Athelney Trust was 259.7p at 28 February 2017.

24 February 2017

Athelney Trust announce annual financial statements to 31 December 2016. (Link to PDF)

31 January 2017

The unaudited net asset value of Athelney Trust was 250.4p at 31 January 2017.

31 December 2016

The unaudited net asset value of Athelney Trust was 250.6p at 31 December 2016.

30 November 2016

The unaudited net asset value of Athelney Trust was 243.7p at 30 November 2016.

31 October 2016

The unaudited net asset value of Athelney Trust was 241.6p at 31 October 2016.

30 September 2016

The unaudited net asset value of Athelney Trust was 243.6p at 30 September 2016.

31 August 2016

The unaudited net asset value of Athelney Trust was 241.3p at 31 August 2016.

31 July 2016

The unaudited net asset value of Athelney Trust was 232.5p at 31 July 2016.

26 July 2016

Athelney Trust announce interim financial statements to 30 June 2015. (Link to PDF)

30June 2016

The unaudited net asset value of Athelney Trust was 216.5p at 30 June 2016.

31 May 2016

The unaudited net asset value of Athelney Trust was 230.5p at 31 May 2016.

30 April 2016

The unaudited net asset value of Athelney Trust was 229.8p at 30 April 2016.

18 April 2016

There has been an amendment to the placing of shares announced on 7 April 2016.

The Managing Director Mr R G Boyle will now hold 446,555 ordinary shares after the Placing and admission which is 20.69% of the enlarged issued share capital following the Placing..

08 April 2016

At the AGM held on 7 April 2016.All resolutions were passed unanimously with 34 votes for (representing 1,065,465 shares) no votes against and no votes withheld.

07 April 2016

Further to the announcement by the Company on 29 March 2016, the Board of Athelney Trust is pleased to announce a Placing raising approximately £407,000 (before expenses) through the issue of 174,800 ordinary shares of nominal value 25 pence each ("New Ordinary Shares").

31 March 2016

The unaudited net asset value of Athelney Trust was 233.2p at 31 March 2016.

29 March 2016

Announcement of potential fund raising.

04 March 2016

Athelney Trust announce annual financial statements to 31 December 2015. (Link to PDF)

29 February 2016

The unaudited net asset value of Athelney Trust was 235.5p at 29 February 2016.

31 January 2016

The unaudited net asset value of Athelney Trust was 235.8p at 31 January 2016.

31 December 2015

The unaudited net asset value of Athelney Trust was 245.0p at 31 December 2015.

30 November 2015

The unaudited net asset value of Athelney Trust was 244.6p at 30 November 2015.

16 November 2015

On 13 November 2015 the Director S Moore acquired 20,700 shares at £2.25 in Athelney Trust plc. His total shareholding is now 25,700 shares.

31 October 2015

The unaudited net asset value of Athelney Trust was 243.9p at 31 October 2015.

16 October 2015

On 16 October 2015 the Director Simon Moore acquired 5000 shares at £2.40 in Athelney Trust plc.

30 September 2015

The unaudited net asset value of Athelney Trust was 240.9p at 30 September 2015

31 August 2015

The unaudited net asset value of Athelney Trust was 241.6p at 31 August 2015

31 July 2015

The unaudited net asset value of Athelney Trust was 243.7p at 31 July 2015

24 July 2015

Athelney Trust announce interim financial statements to 30 June 2015. (Link to PDF)

30 June 2015

The unaudited net asset value of Athelney Trust was 236.0p at 30 June 2015

31 May 2015

The unaudited net asset value of Athelney Trust was 237.6p at 31 May 2015

24 May 2015

On 24 May 2015 Hugo Deschampneufs resigned as Chairman. The Board of Athelney Trust wishes to place on record its appreciation of the valuable help and guidance Hugo has given to the company over the past 20 years.

15 May 2015

On 15 May 2015 Hilary Boyle, the daughter of the Managing Director R G Boyle, acquired 6,000 shares in the company at a price of 201p. Mr Boyle’s holding is now 418,705 shares representing 21.11% of the issued share capital in Athelney Trust plc.

15 May 2015

On 15 May 2015, Global Masters Fund purchased 17,860 shares in Athelney Trust at 201p. The Fund now holds 275,509 shares representing 13.89% of the issued share capital in Athelney Trust plc.

15 May 2015

On 15 May 2015 Mr Hugo Deschampsneufs, Chairman and director of the company, sold all his 78,038 shares in the company at 201p.

06 May 2015

The Board of Athelney Trust is pleased to announce the appointment of Mr Simon Moore as a director of the company. The appointment commenced on 1 May 2015 and will continue until the next Annual General Meeting.

30 April 2015

The unaudited net asset value of Athelney Trust was 231.7p at 30 April 2015

28 April 2015

On 27 th April 2015 Hilary Boyle daughter of Managing Director Robin Boyle acquired 1500 shares in the Company at £1.95 per share.

13 April 2015

At the AGM held on 9th April 2015 all resolutions were passed unanimously with 40 votes for (representing 933,734 shares) and no votes against and no votes withheld.

31 March 2015

The unaudited net asset value of Athelney Trust was 228.0p at 31 March 2015

06 March 2015

Athelney Trust announce annual financial statements to 31 December 2014.  (Link to PDF)

28 February 2015

The unaudited net asset value of Athelney Trust was 237.2p at 28 February 2015

31 January 2015

The unaudited net asset value of Athelney Trust was 230.0p at 31 January 2015.

30 January 2015

David Horner has today 30 January 2015 resigned as a director of the company. The Board of Athelney Trust wishes to place on record its appreciation of the valuable help and guidance David has given it over the past 12 years.

31 December 2014

The unaudited net asset value of Athelney Trust was 228.0p at 31 December 2014.

23 December 2014

On 23 December 2014, Global Masters Funds purchased 20,000 shares in Athelney Trust at 200p. The Fund now holds 257,649 shares representing 12.99% of the issued share capital in Athelney Trust plc.

23 December 2014

On 23 December 2014 the Director Mr D A Horner sold all his 20,000 shares at 200p.

30 November 2014

The unaudited net asset value of Athelney Trust was 226.5p at 30 November 2014.

31 October 2014

The unaudited net asset value of Athelney Trust was 221.3p at 31 October 2014.

30 September 2014

The unaudited net asset value of Athelney Trust was 223.1p at 30 September 2014.

31 August 2014

The unaudited net asset value of Athelney Trust was 224.0p at 31 August 2014.

20 August 2014

At a board meeting it was unanimously agreed that Dr. Manny Pohl is to be a full Director and Vice Chairman and that Mr Jonathan Addison to become an Alternate Director all until the date of the next AGM.

7 August 2014

The Directors announce that the Company has been authorised as an Alternative Investment Fund Manager.

1 August 2014

Athelney Trust announce interim financial statements to 30 June 2014. (Link to PDF)

31 July 2014

The unaudited net asset value of Athelney Trust was 221.4p at 30 July 2014.

30 June 2014

The unaudited net asset value of Athelney Trust was 224.8p at 30 June 2014.

13 June 2014

On 13 June 2014, Global Masters Funds purchased 16,970 shares in Athelney Trust at 226.4p. The Fund now holds 237,649 shares representing 11.98% of the issued share capital in Athelney Trust plc.

13 June 2014

On 13 June 2014 the Managing Director R G Boyle sold 16,970 shares from his SIPP at 226.4p. His holding is now 411,205 shares representing 20.74% of the issued share capital in Athelney Trust plc.

31 May 2014

The unaudited net asset value of Athelney Trust was 226.5p at 31 May 2014.

30 April 2014

The unaudited net asset value of Athelney Trust was 224.8p at 30 April 2014.

13 April 2014

At the AGM held on 9th April 2014 all resolutions were passed unanimously with 41 votes for (representing 925,821 shares) and no votes against and no votes withheld.

31 March 2014

The unaudited net asset value of Athelney Trust was 223.1p at 31 March 2014.

7 March 2014

Athelney Trust announce annual financial statements to 31 December 2013. (Link to PDF)

28 February 2014

The unaudited net asset value of Athelney Trust was 230.9p at 28 February 2014.

31 January 2014

The unaudited net asset value of Athelney Trust was 225.6p at 31 January 2014.

31 December 2013

The unaudited net asset value of Athelney Trust was 219.3p at 31 December 2013.

20 December 2013

On 20 December 2013, Global Masters Funds purchased 40,400 shares in Athelney Trust at 206.7p. The Fund now holds 220,679 shares representing 11.1% of the issued share capital in Athelney Trust plc.

20 December 2013

On 20 December 2013 the Managing Director R G Boyle sold 40,400 shares at 206.7p. His holding is now 428,175 shares representing 21.59% of the issued share capital in Athelney Trust plc.

30 November 2013

The unaudited net asset value of Athelney Trust was 212.3p at 30 November 2013.

31 October 2013

The unaudited net asset value of Athelney Trust was 206.7p at 31 October 2013.

30 September 2013

The unaudited net asset value of Athelney Trust was 195.1p at 30 September 2013.

30 August 2013

The unaudited net asset value of Athelney Trust was 186.7p at 31 August 2013.

22 August 2013

On 22 August 2013 the Managing Director R.G. Boyle acquired 6,500 shares at £1.36 in Athelney Trust Plc.

5 August 2013

On 5 August 2013 the Managing Director R.G. Boyle acquired 3,105 shares at £1.35 in Athelney Trust Plc.

2 August 2013

Athelney Trust announce half-yearly financial statements to 30June 2013. ( Link to PDF)

31 July 2013

The unaudited net asset value of Athelney Trust was 177.8p at 31 July 2013.

30 June 2013

The unaudited net asset value of Athelney Trust was 166.2p at 30 June 2013.

31 May 2013

The unaudited net asset value of Athelney Trust was 169.5p at 31 May 2013.

30 April 2013

The unaudited net asset value of Athelney Trust was 162.1p at 30 April 2013.

12 April 2013

At the AGM held on 9 April 2013, all resolutions were passed unanimously with 37 votes for (representing 917,691 shares) and no votes against and no votes withheld.

31 March 2013

The unaudited net asset value of Athelney Trust was 159.6p at 31 March 2013.

08 March 2013

Athelney Trust PLC, the investor in small companies and junior markets, will pay its final dividend, if approved, to shareholders on the register on Friday March 22 2013 and NOT on Thursday March 21 2013 as stated in the final results announcement published earlier today.

08 March 2013

Athelney Trust announce annual financial statements to 31 December 2012. ( Link to PDF)

28 February 2013

The unaudited net asset value of Athelney Trust was 160.9p at 28 February 2013.

31 January 2013

The unaudited net asset value of Athelney Trust was 154.9p at 31 January 2013.

31 December 2012

The unaudited net asset value of Athelney Trust was 149.1p at 31 December 2012.

30 November 2012

The unaudited net asset value of Athelney Trust was 144.1p at 30 November 2012.

Copyright Athelney Trust. Site updated 09/05/2019