Net Asset Value

RNS Number : 3673G

Law Debenture Corp PLC

17 March 2020

 

The Law Debenture Corporation p.l.c.

Net Asset Value as at 13 March 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 13 March 2020 was 533.07 pence per share (cum income), which excludes the proposed 2019 final dividend of 19.40p as the shares went ex-dividend on 12 March. With the Corporation's long term debt stated at fair value, the NAV was 502.82 pence per share (cum income). The mid-market price at the close of business on 13 March 2020 was 534.00 pence per share. The final dividend will be paid, subject to shareholder approval, on 16 April 2020 to holders on the register at the record date of 13 March 2020.

Net Asset Value	Excluding Income (pence)	Including Income (pence)
NAV with debt at par	530.09	533.07
NAV with debt at fair value	499.85	502.82

Performance

	YTD %	1 year %	3 years %	5 years %	10 years %
NAV total return (with debt at par)2	-24.7	-15.6	-8.4	9.3	104.7
NAV total return (with debt at fair value)2	-25.6	-17.1	-9.6	6.1	94.6
FTSE Actuaries All-Share Index Total Return3	-27.9	-21.5	-15.5	-1.0	47.8
Share price total return3	-14.9	-7.6	7.8	23.8	147.0
Change in Retail Price Index4	-0.4	2.7	9.5	13.8	33.8

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: Bloomberg.

⁴ Source: Bloomberg, subject to the latest published RPI data based on January 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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