Net Asset Value(s)

RNS Number : 6018K

Mercantile Investment Trust(The)PLC

22 December 2008

 



DATE  22ND DECEMBER 2008

JPMORGAN ASSET MANAGEMENT (UK) LIMITED ANNOUNCES THE UNAUDITED NET ASSET VALUES PER SHARE (NAVS) OF THE FOLLOWING INVESTMENT TRUST AS AT CLOSE OF BUSINESS ON 19TH DECEMBER 2008. THE NAVS HAVE BEEN CALCULATED IN ACCORDANCE WITH AIC RECOMMENDED PRACTICE.

THE NET ASSET VALUE IN PENCE, INCLUDING INCOME, WITH DEBT AT FAIR VALUE, AS AT MARKET CLOSE ON 19TH DECEMBER 2008 WAS AS FOLLOWS:

THE MERCANTILE INVESTMENT TRUST PLC:  Following the successful outcome, in June 2007, of the action brought to declare that VAT should not be charged on management fees for investment trust companies, the Board is pleased to announce that it has reached agreement with the Company's manager, on the recovery of past VAT. The total recovery is £10,132,165, of which £5,842,732 had been previously recognised in the Company's net asset values. The full amount is now reflected in the Company's net asset value.  The VAT recovery has been credited to the Company's revenue and capital accounts in accordance with the Board's policy for allocation of management fees and finance costs for each of the periods for which VAT is recovered.

684.22

THE CAPITAL-ONLY NET ASSET VALUE PER SHARE IN PENCE, WITH DEBT AT PAR VALUE, AS AT MARKET CLOSE ON 19TH DECEMBER 2008 WAS AS FOLLOWS:

THE MERCANTILE INVESTMENT TRUST PLC:  Following the successful outcome, in June 2007, of the action brought to declare that VAT should not be charged on management fees for investment trust companies, the Board is pleased to announce that it has reached agreement with the Company's manager, on the recovery of past VAT. The total recovery is £10,132,165, of which £5,842,732 had been previously recognised in the Company's net asset values. The full amount is now reflected in the Company's net asset value.  The VAT recovery has been credited to the Company's revenue and capital accounts in accordance with the Board's policy for allocation of management fees and finance costs for each of the periods for which VAT is recovered.

675.65

 

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