16. Investments in Subsidiaries

Subsidiary undertakings

Cost and net book value
At 1st July 2012, 2013 and 30th June 201414,36114,361

The principal subsidiary undertakings of the Company are summarised below. The companies listed include all those which principally affected the earnings and assets of the Group.

Country of
registration or
ClassShares held
Animalcare LtdEnglandOrdinary90
Naychem LimitedEnglandOrdinary100

The principal activity of these undertakings for the last financial year was as follows:

Principal activity
Animalcare LtdSale of companion animal products and services
Naychem LimitedNon-trading