Net Asset Value(s)

RNS Number : 1134J

Lindsell Train Investment Trust PLC

07 April 2020

 

THE LINDSELL TRAIN INVESTMENT TRUST PLC

It is announced that the un-audited Net Asset Value (inclusive of accumulated income) of The Lindsell Train Investment Trust plc, which is managed by Lindsell Train Limited, at the close of business on the below date was as follows:

31 March 2020

£956.6488 per Ordinary share

Please Note: The above NAV figure includes a revised valuation for LTIT's holding of 6,450 shares in Lindsell Train Limited ("LTL"). As at 31 March 2020, these shares were valued at £13,872.68 per share, a decrease of 13.22% from the valuation of £15,986.03 per share as at the previous valuation on 29 February 2020.  Funds under management at LTL at 31 March 2020 stood at £18,240 million.

In calculating the value of Lindsell Train Limited ('LTL') the board has amended its valuation formula for the 31st March valuation by estimating LTL's annual notional earnings based on 31st March 2020 LTL funds under management. This captured the full effect on the earnings of the company from the recent sharp fall in markets.

Previously, monthly valuations have been based on annualised notional earnings of LTL for the three months preceding the month of valuation (December, January and February for the 31st March valuation). If the earnings component of the LTL valuation formula had not been amended LTL's value would have been £15,363.12 per share.

Maitland Administration Services Limited - Corporate Secretary

 

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