Net Asset Value(s)

RNS Number : 9025R

Law Debenture Corp PLC

03 March 2023

 

The Law Debenture Corporation p.l.c.

Net Asset Value as at 2 March 2023

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 2 March 2023 was 808.35 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 834.16 pence per share (cum income). The mid-market price at the close of business on 2 March 2023 was 852.00 pence per share.

In calculating the NAV, we have updated the value of the IPS business in line with the annual results release on the 28th of February 2023.

Subject to shareholder approval, the final 2022 dividend of 8.75p will be paid on the 13th of April 2023 to shareholders on the register on the record date of the 10th of March 2023.

Net Asset Value	Excluding Income (pence)	Including Income (pence)
NAV with debt at par	805.30	808.35
NAV with debt at fair value	831.10	834.16

Performance

	YTD %	1 year %	3 years %	5 years %	10 years %
NAV total return (with debt at par) 2	8.9	4.8	41.3	45.1	138.1
NAV total return (with debt at fair value) 2	9.5	11.5	55.1	55.8	151.6
FTSE Actuaries All-Share Index Total Return 3	7.0	8.9	30.0	30.3	85.2
Share price total return 3	10.5	10.3	74.7	79.9	163.6
Change in Retail Price Index 4	0.0	12.5	24.0	29.6	45.5

¹ The fair value of the IPS business has been calculated as at 31 December 2022.

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 Share Price source: Refinitiv.

⁴ Source: Office for National Statistics, subject to latest published RPI, January 2023.

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., 8th Floor, 100 Bishopsgate, London, EC2N 4AG (contact Alison Skerritt, Company Secretariat, 020 7606 5451).

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

 

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