Net Asset Value and Portfolio Update

RNS Number : 6452P

Law Debenture Corp PLC

01 September 2017

 

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 31 August 2017 was 665.81 pence per share (ex income) and 675.09 pence per share (cum income), which excludes the proposed 2017 interim dividend of 5.50p.  With the Corporation's long term debt stated at fair value, the NAV was 638.12 pence per share (ex income) and 647.40 pence per share (cum income).  The mid-market price at the close of business on 31 August 2017 was 607.50 pence per share.  The interim dividend will be paid on 8 September 2017 to holders on the register at the record date of 11 August 2017.

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 August 2017 are set out below

Top 10 Holdings

The top 10 holdings in the investment portfolio as at 31 August 2017 were:

Rank	Name of Holding	% of portfolio (excl. cash)
1.	Royal Dutch Shell	3.32
2.	HSBC	2.76
3.	Baillie Gifford Pacific	2.27
4.	Senior	2.20
5.	Stewart Investors Pacifc	2.19
6.	Rolls Royce	2.11
7.	GKN	2.01
8.	BP	1.99
9.	Rio Tinto	1.96
10.	Prudential	1.86

Geographical Split of investment portfolio

Region	% of portfolio
UK	61
Europe	8
North America	8
Japan	2
Other Pacific	5
Other	2
Cash and Fixed Interest	14
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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