Net Asset Value and Portfolio Update

RNS Number : 6938Q

Law Debenture Corp PLC

01 March 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 29 February 2016 was 511.20 pence per share (ex income) and 523.29 pence per share (cum income), which includes the proposed 2015 final dividend of 11.00p.  With the Corporation's long term debt stated at fair value, the NAV was 503.78 pence per share (ex income) and 515.87 pence per share (cum income).  The mid-market price at the close of business on 29 February 2016 was 450.50 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 29 February 2016 are set out below

Top 10 Holdings

The top 10 holdings in the investment portfolio as at 29 February 2016 were:

Rank	Name of Holding	% of portfolio (excl. cash)
1.	Henderson Japan Capital Growth	2.68
2.	Royal Dutch Shell	2.66
3.	Henderson Asia Pacific Capital Growth	2.06
4.	GKN	2.01
5.	BP	1.99
6.	Senior	1.93
7.	Stewart Investors Pacifc	1.91
8.	Baillie Gifford Pacific	1.84
9.	HSBC	1.75
10.	Smith (DS)	1.74

Geographical Split of investment portfolio

Region	% of portfolio
UK	69
Europe	6
North America	10
Japan	4
Other Pacific	6
Other	1
Cash and Fixed Interest	4
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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