Net Asset Value and Portfolio Update

RNS Number : 6208Z

Law Debenture Corp PLC

04 September 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 31 August 2018 was 694.06 pence per share (ex income) and 702.89 pence per share (cum income), which excludes the proposed 2018 interim dividend of 6.00p.  With the Corporation's long term debt stated at fair value, the NAV was 673.23 pence per share (ex income) and 682.06 pence per share (cum income).  The mid-market price at the close of business on 31 August 2018 was 608.00 pence per share.  The interim dividend will be paid on 7 September 2018 to holders on the register at the record date of 10 August 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 31 August 2018 are set out below

Top 10 Holdings

The top 10 holdings in the investment portfolio as at 31 August 2018 were:

Rank	Name of Holding	% of portfolio (excl. cash)
1.	Royal Dutch Shell	4.22
2.	Senior	2.43
3.	GlaxoSmithKline	2.38
4.	HSBC	2.34
5.	BP	2.33
6.	Stewart Investors Pacific	2.32
7.	Rolls Royce	2.20
8.	Smith (DS)	1.85
9.	Rio Tinto	1.82
10.	Microsoft (USA)	1.72

Geographical Split of investment portfolio

Region	% of portfolio
UK	65
Europe	8
North America	8
Japan	1
Other Pacific	4
Other	1
Cash and Fixed Interest	13
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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