Net Asset Value and Portfolio Update

RNS Number : 8933O

Law Debenture Corp PLC

04 February 2019

 

Net Asset Value

The Law Debenture Corporation p.l.c. announces that its preliminary unaudited Net Asset Value ("NAV") with borrowings at par and including fair value of IPS businesses* on 31 January 2019 was 645.33 pence per share (ex income) and 660.53 pence per share (cum income).  With the Corporation's long term debt stated at fair value, the NAV was 623.80 pence per share (ex income) and 639.00 pence per share (cum income).  The mid-market price at the close of business on 31 January 2019 was 580.00 pence per share. 

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 January 2019 are set out below.

Top 10 Holdings

The top 10 holdings in the investment portfolio as at 31 January 2019 were:

Rank	Name of Holding	% of portfolio (excl. cash)
1.	Royal Dutch Shell	4.27
2.	GlaxoSmithKline	2.45
3.	HSBC	2.43
4.	BP	2.40
5.	Rio Tinto	2.26
6.	Rolls Royce	2.10
7.	Prudential	2.00
8.	Senior	1.91
9.	Stewart Investors Pacific	1.91
10.	Relx	1.82

Geographical Split of investment portfolio

Region	% of portfolio
UK	65
Europe	7
North America	8
Japan	1
Other Pacific	4
Other	1
Cash and Fixed Interest	14
TOTAL	100

* The IPS fair value is the value that has been applied consistently since the most recent formal valuation at 30 June 2018.  The fair value at 31 December 2018 is still being calculated and will be published as part of our annual results.

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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