Net Asset Value

RNS Number : 0382L

Law Debenture Corp PLC

28 April 2020

 

The Law Debenture Corporation p.l.c.

Net Asset Value as at 24 April 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 24 April 2020 was 532.44 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 498.16 pence per share (cum income). The final dividend in respect of the year ended 31 December 2019 of 19.4 pence per share was paid on 16 April 2020. The mid-market price at the close of business on 24 April 2020 was 500.00 pence per share.

Net Asset Value	Excluding Income (pence)	Including Income (pence)
NAV with debt at par	527.05	532.44
NAV with debt at fair value	492.77	498.16

Performance

	YTD %	1 year %	3 years %	5 years %	10 years %
NAV total return (with debt at par) 2	-24.8	-18.6	-9.4	8.5	103.5
NAV total return (with debt at fair value) 2	-26.3	-20.9	-11.3	4.2	91.8
FTSE Actuaries All-Share Index Total Return 3	-23.7	-19.1	-10.2	1.8	58.7
Share price total return 3	-20.3	-14.6	-2.1	18.4	133.8
Change in Retail Price Index 4	0.2	2.6	8.7	13.8	32.6

¹ The fair value of the IPS business has been calculated as at 31 December 2019 and was published as part of the year end results announcement on 27 February 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: Thomson Reuters.

⁴ Source: Bloomberg, subject to the latest published RPI data based on March 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 Debbie Fish, Company Secretariat, 020 7696 5940).

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

 

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