British & American Investment Trust : Reporting Dpcument
May 27, 2022 at 12:53 pm EDT
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British & American
Investment Trust PLC
Report and accounts
31 December 2021
British & American Investment Trust PLC
As at 31 December 2021
Investment Policy
To invest predominantly in investment trusts and other leading UK and US-quoted companies to achieve a balance of income and growth.
Ten largest security holdings (excluding subsidiaries)
Name
Sector
%
Lineage Cell Therapeutics (USA)
Biotechnology
20.53
Dunedin Income Growth
Investment Trust
11.94
Geron Corporation (USA)
Biomedical
7.61
Aberdeen Diversified Inc&Growth
Investment Trust
4.70
ADVFN
Other Financial
0.69
AgeX (USA)
Biotechnology
0.64
Braemar Shipping Services
Transport
0.55
Relief Therapeutics (Switzerland)
Healthcare
0.55
NRX Pharmaceuticals (USA)
Healthcare
0.33
Electra Private Equity
Investment Trust
0.07
47.61
Country Exposure
Country
£m
%
UK
2.3
37.7
USA
3.8
62.3
Total investments (exc. subsidiaries)
6.1
100.0
Value (dividends reinvested) of £100 invested in ordinary shares (source: AIC)
£
1 year
80.9
3 year
78.2
5 year
48.7
SHARE PRICE (dividends reinvested) 5 YEAR SUMMARY
DECEMBER 2016=100
140.00
120.00
100.00
80.00
60.00
40.00
20.00
0.00
Dec-16
Dec-17
Dec-18
Dec-19
Dec-20
Dec-21
SHARE PRICE PER SHARE
FTSE ALL SHARE INDEX - TOTAL RETURN
Salient Facts
Launch Date
1996
Management
Self-managed
Year/Interim End
31 December/30 June
Capital Structure
25,000,000 Ordinary Shares
of £1 (listed);
10,000,000 Convertible
Preference Shares
of £1 (unlisted)
Number of Holdings
16
Net Assets (£m)
6.7
Yield
14.0%
Dividend Dates
Interim dividend - December
Final dividend - June
Share price (p)
25.0
NAV/share (p)
19 (diluted)
Premium
30.1% (diluted)
Ongoing charges
9.9%
Sedol Code
0065311
ISIN Code
GB000065311
Status
Eligible to be held in an ISA or Savings Scheme.
Contact
British & American Investment Trust PLC
Wessex House
1 Chesham Street
London SW1X 8ND
Tel: 020 7201 3100
Fax: 020 7201 3101
Website: www.baitgroup.co.uk
Registered in England. Registered number 00433137 VAT Reg. No. 241 1621 10
NET DIVIDENDS PER ORDINARY SHARE 10 YEARS RECORD AND PROPOSED 2021
7.000
6.000
5.000
4.000
3.000
2.000
1.000
0.000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
INTERIM
FINAL
British & American Investment Trust PLC
Annual Report and Accounts
for the year ended 31 December 2021
Registered number: 00433137
Contents
Page
Directors and officials
1
Biographical details of directors and investment policy
2
Strategic report including:
Chairman's statement
3
Managing Director's report
6
Financial highlights
10
Net asset and dividend growth
11
Distribution of investments and cash
12
Investment portfolio
13
Five year record
14
Business review
15
Directors' report
20
Statement of directors' responsibilities
24
Independent auditor's report
25
Income statement
33
Statement of changes in equity
34
Balance sheet
35
Cash flow statement
36
Notes to the financial statements
37
Statement of Corporate Governance
58
Directors' remuneration report
65
Notice of meeting
70
BRITISH & AMERICAN INVESTMENT TRUST PLC
Directors and officials
Directors
David G Seligman (Chairman)
Jonathan C Woolf (Managing Director)
Dominic G Dreyfus (Non-executive and Chairman of the Audit Committee until 7 February 2022) Alex Tamlyn (Non-executive and acting Chairman of the Audit Committee)
Julia Le Blan (Non-executive from 1 June 2022)
Secretariat and registered office
KJ Williams ACA (Secretary)
M Silverov (Deputy Secretary)
Wessex House
1 Chesham Street
London SW1X 8ND
Registrars
Neville Registrars Limited
Neville House
Steelpark Road
Halesowen
B62 8HD
Bankers
Metro Bank PLC
One Southampton Row
London
WC1B 5HA
Credit Suisse AG
Client Management UHNWI UK
WEHW
Talacker 16
8001 Zurich
Switzerland
Auditors
Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX
BRITISH & AMERICAN INVESTMENT TRUST PLC 1
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British and American Investment Trust plc published this content on 27 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2022 16:52:31 UTC.
British & American Investment Trust PLC is a self-managed investment trust company. The Company invests in investment trusts and other United Kingdom and United States-quoted companies. The Companyâs investment portfolio includes Lineage Cell Therapeutics (USA), Dunedin Income Growth, Geron Corporation (USA), Aberdeen Diversified Income & Growth, Relief Therapeutics (Switzerland), AgeX (USA), Audioboom Group, ADVFN, Braemar Shipping Services and Electra Private Equity. The Company's invests sectors include biotechnology, investment trust, biomedical, healthcare, media, semiconductors and telecommunications.