Net Asset Value(s)

The Company announces:
Total Assets (including unaudited revenue reserves at 24/05/2018) of £68.54m
Net Assets (including unaudited revenue reserves at 24/05/2018) of £53.79m
The Net Asset Value (NAV) at 24/05/2018 was:
		Number of shares in issue:
Per Ordinary share (bid price) - including unaudited current period revenue*	257.99p	20850000
Per Ordinary share (bid price) - excluding current period revenue*	251.73p
Ordinary share price	262.50p
Premium / (Discount) to NAV	1.75%
Ordinary shares have an undated life
ZDP share	101.73p	14500000
ZDP share price	105.00p
Premium to NAV	3.22%
ZDP shares are held in a subsidiary and have a redemption date of 30/04/2025
*Current period revenue covers the period 01/05/2017 to 24/05/2018