Net Asset Value(s)

RNS Number : 3850D

Law Debenture Corp PLC

27 October 2020

 

The Law Debenture Corporation p.l.c.

Net Asset Value as at 26 October 2020

The Law Debenture Corporation p.l.c. announces that its Net Asset Value ("NAV") with borrowings at par and including the fair value of IPS business¹ on 26 October 2020 was 595.24 pence per share (cum income) which excludes the proposed 2020 second interim dividend of 6.5 pence as the shares went ex-dividend on 24 September 2020.. With the Corporation's long term debt stated at fair value, the NAV was 555.13 pence per share (cum income). The mid-market price at the close of business on 26 October 2020 was 515.00 pence per share. The second interim dividend will be paid on 28 October 2020 to shareholders on the register at the record date of 25 September 2020.

Net Asset Value	Excluding Income (pence)	Including Income (pence)
NAV with debt at par	590.65	595.24
NAV with debt at fair value	550.53	555.13

Performance

	YTD %	1 year %	3 years %	5 years %	10 years %
NAV total return (with debt at par) 2	-14.0	-8.0	-3.5	30.2	121.5
NAV total return (with debt at fair value) 2	-15.9	-9.6	-6.3	24.2	108.5
FTSE Actuaries All-Share Index Total Return 3	-20.1	-15.6	-11.2	13.0	59.5
Share price total return 3	-15.7	-7.8	-2.3	19.5	130.1
Change in Retail Price Index 4	0.8	1.1	7.0	13.4	30.6

¹ The fair value of the IPS business has been calculated as at 30 June 2020 and was published as part of the interim results announcement on 31 July 2020.

² NAV is calculated in accordance with the Association of Investment Companies (AIC) methodology, based on performance data held by Law Debenture including fair value of IPS business and long-term borrowings. NAV is shown with debt measured at par and with debt measured at fair value.

³ Source: Refinitiv.

⁴ Source: Bloomberg, subject to latest published RPI; September 2020.   

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.

Released by The Law Debenture Corporation p.l.c., Fifth Floor, 100 Wood Street, London, EC2V 7EX (contact Alison Skerritt-Black, Company Secretariat, 020 7606 5451).

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

 

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