Net Asset Value and Portfolio Update

RNS Number : 4496G

Law Debenture Corp PLC

01 March 2018

 

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 IPS businesses on 28 February 2018 was 666.34 pence per share (ex income) and 679.86 pence per share (cum income), which includes the proposed 2017 final dividend of 11.80p.  With the Corporation's long term debt stated at fair value, the NAV was 644.82 pence per share (ex income) and 658.35 pence per share (cum income).  The mid-market price at the close of business on 28 February 2018 was 586.00 pence per share.  The final dividend will be paid, subject to shareholder approval, on 19 April 2018 to holders on the register at the record date of 16 March 2018.

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 28 February 2018 are set out below

Top 10 Holdings

The top 10 holdings in the investment portfolio as at 28 February 2018 were:

Rank	Name of Holding	% of portfolio (excl. cash)
1.	Royal Dutch Shell	4.10
2.	HSBC	2.67
3.	Senior	2.36
4.	Stewart Investors Pacific	2.24
5.	BP	2.15
6.	Baillie Gifford Pacific	2.10
7.	Rio Tinto	2.08
8.	Rolls Royce	1.96
9.	GlaxoSmithKline	1.94
10.	Prudential	1.90

Geographical Split of investment portfolio

Region	% of portfolio
UK	60
Europe	7
North America	8
Japan	2
Other Pacific	5
Other	2
Cash and Fixed Interest	16
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).

The Law Debenture Corporation p.l.c. LEI number - 2138006E39QX7XV6PP21

 

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