Net Asset Value and Portfolio Update

RNS Number : 9421T

Law Debenture Corp PLC

01 April 2016

 

Net Asset Value

The Law Debenture Corporation p.l.c. announces that its Net Asset Value ("NAV") with borrowings at par and including fair value of IFS businesses on 31 March 2016 was 528.05 pence per share (ex income) and 531.44 pence per share (cum income), which excludes the proposed 2015 final dividend of 11.00p.  With the Corporation's long term debt stated at fair value, the NAV was 515.15 pence per share (ex income) and 518.54 pence per share (cum income).  The mid-market price at the close of business on 31 March 2016 was 457.00 pence per share.  The final dividend will be paid, subject to shareholder approval, on 21 April 2016 to holders on the register at the record date of 18 March 2016.

In accordance with listing rule 15.6.8, The Law Debenture Corporation p.l.c. announces that it has no investments in other UK listed investment companies that require to be disclosed. Its top ten holdings, including all holdings with a value greater than 5% of the Corporation's gross assets as at 31 March 2016 are set out below

Top 10 Holdings

The top 10 holdings in the investment portfolio as at 31 March 2016 were:

Rank	Name of Holding	% of portfolio (excl. cash)
1.	Royal Dutch Shell	2.68
2.	Henderson Japan Capital Growth	2.63
3.	Henderson Asia Pacific Capital Growth	2.11
4.	Senior	2.07
5.	GKN	2.06
6.	BP	1.93
7.	Baillie Gifford Pacific	1.93
8.	Stewart Investors Pacifc	1.92
9.	Hill & Smith	1.86
10.	Smith (DS)	1.77

Geographical Split of investment portfolio

Region	% of portfolio
UK	68
Europe	6
North America	10
Japan	3
Other Pacific	6
Other	2
Cash and Fixed Interest	5
TOTAL	100

Released by The Law Debenture Corporation p.l.c., Fifth Floor, 100 Wood Street, London, EC2V 7EX (contact Ian Bowden, Company Secretariat, 020 7696 5285).

 

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