Net Asset Value(s)

RNS Number : 8662U

Majedie Investments PLC

07 December 2021

 

Majedie Investments PLC

Legal Entity Identifier: 2138007QEY9DYONC2723

7 December 2021

Net Asset Value (NAV)

The unaudited net asset value per share at the close of business on 6 December 2021 was as follows:

With debentures at par value: 281.16 per share

With debentures at fair value: 275.73 per share

The net asset value published is on a cum-income basis and the net asset value is calculated on 52,998,795 ordinary shares, being the number of shares in issue.

On 7.12.21, Liontrust Asset Management PLC (Liontrust) announced that it had entered into a conditional sale and purchase agreement to acquire the entire share capital of Majedie Asset Management Limited (MAM), for cash and Liontrust shares, and therefore the carrying value of the Company's investment in MAM has been reduced to £22.370m from £24.756m. Future NAVs will reflect the relevant market price of the Liontrust shares. Additionally, both the MAM value and the NAV do not include the deferred consideration of up to £5.569m. The deferred consideration is contingent and is not due until 2025.

Lastly, the fair value of the March 2025 debenture is calculated by using the yield of UK Treasury Bonds of an equal duration plus a 2.5% risk premium.  The Board sees this mechanism as transparent, market related and consistent with best practice.

Enquiries

William Barlow

Majedie Investments PLC

Ph: 020 7382 8185

 

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