Net Asset Value

RNS Number : 2771Y

Law Debenture Corp PLC

01 March 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 IFS businesses on 28 February 2017 was 629.55 pence per share (ex income) and 643.12 pence per share (cum income), which includes the proposed 2016 final dividend of 11.50p.  With the Corporation's long term debt stated at fair value, the NAV was 603.87 pence per share (ex income) and 617.44 pence per share (cum income).  The mid-market price at the close of business on 28 February 2017 was 556.00 pence per share.  The final dividend will be paid, subject to shareholder approval, on 20 April 2017 to holders on the register at the record date of 17 March 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 28 February 2017 are set out below

Top 10 Holdings

The top 10 holdings in the investment portfolio as at 28 February 2017 were:

Rank	Name of Holding	% of portfolio (excl. cash)
1.	Royal Dutch Shell	3.30
2.	Rio Tinto	2.39
3.	HSBC	2.35
4.	GKN	2.25
5.	Rolls Royce	2.22
6.	Baillie Gifford Pacific	2.16
7.	Stewart Investors Pacifc	2.06
8.	BP	2.00
9.	GlaxoSmithKline	1.70
10.	Prudential	1.63

Geographical Split of investment portfolio

Region	% of portfolio
UK	64
Europe	7
North America	11
Japan	2
Other Pacific	5
Other	2
Cash and Fixed Interest	9
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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