The main aim of the El Oro Group since 1938 has been to increase the asset value of the shares in issue whilst continually increasing dividends.
El Oro is a collective investment vehicle and seeks to be competitive with similar investment funds. To achieve this aim, the Board restructured the El Oro Mining and Exploration Company plc to allow El Oro Ltd to be subject to a tax regime that puts it on a par with other investment vehicles such as unit and investment trusts.
El Oro Ltd is the El Oro Group holding company, registered in Guernsey with its shares listed on the Official List of the Channel Islands Stock Exchange and admitted to trading on the London Stock Exchange’s SETSqx trading platform [Ticker - ELX]. El Oro became the holding company for the El Oro Group by way of a scheme of arrangement under section 899 of the Companies Act during March 2009 as approved by the Scheme Stockholders and sanctioned by the Court.
The El Oro Group holds discrete portfolios which are segmented and managed along distinctly different lines and investment styles:
i. the UK portfolio is predominantly an income portfolio that focuses on stocks in relatively mature sectors (e.g. some, but not all,
brewing, utility and mining stocks) which are typically characterised by high yields; and
ii. the Guernsey portfolio holds stocks selected in pursuit of a blended value / growth investment style which seek to identify companies
with good growth prospects that have not yet been fully priced by the market.
Other recent corporate activity in relation to the structure of the Group includes:
The Group holding company prior to El Oro Ltd was El Oro and Exploration Company plc, a company listed on the London Stock Exchange’s AIM market. Cancellation of El Oro and Exploration Company plc’s Stock Units from trading on AIM occurred on 19 March 2009. El Oro and Exploration Company plc moved from the London Stock Exchange, where it had been listed for over 100 years, to an AIM listing on 27 July 2006.
El Oro and Exploration Company plc disposed of a subsidiary company Danby Registrars Limited to a related party (CRW Parish) pursuant to a scheme of arrangement on 20th January 2005.
El Oro and Exploration Company plc was formed by the merger of the El Oro Mining and Exploration Company plc with the Exploration Company plc. Both companies were listed on the London Stock Exchange and the cross holdings between El Oro Mining and Exploration Company plc and The Exploration Company plc were cancelled.
The merged company El Oro and Exploration Company plc commenced trading on the main London Stock Exchange on 8th September 2003.
The two original companies were built by Major Michael Woodbine Parish from a fair value starting point in 1950 of £160,047 for El Oro Mining and Exploration Company plc to £31,414,422 and of £107,261 for The Exploration Company plc to £38,468,620 to 1994, the year of his death. Since that time, and taking into account the mergers, the shares have grown from £267,308 in 1950 to £69,656,561 at 31 December 2009. From 1950 until 31 December 2009 a total of £31,622,589 has been paid out in dividends, from both entities, and a total of £15,627,420 paid in tax to the voracious Government coffers.