Net Asset Value(s)

RNS Number : 7852C

Mercantile Investment Trust(The)PLC

19 November 2009

 



DATE: 19 November 2009
JPMORGAN ASSET MANAGEMENT (UK) LIMITED ANNOUNCES THE UNAUDITED NET ASSET VALUES PER SHARE
(NAVS) OF THE FOLLOWING INVESTMENT TRUSTS AS AT CLOSE OF THE BUSINESS ON  18 November 2009
THE NAVS HAVE BEEN CALCULATED IN ACCORDANCE WITH AIC RECOMMENDED PRACTICE.
THE CAPITAL ONLY NET ASSET VALUE PER SHARE IN PENCE, WITH DEBT AT PAR VALUE, AS AT MARKET CLOSE ON
18 November 2009 WAS AS FOLLOWS:
THE MERCANTILE INVESTMENT TRUST PLC *	1,052.90
THE CAPITAL ONLY NET ASSET VALUE PER SHARE IN PENCE, WITH DEBT AT FAIR VALUE, AS AT MARKET CLOSE ON
18 November 2009 WAS AS FOLLOWS:
THE MERCANTILE INVESTMENT TRUST PLC:*	1,031.73
The debt has been fair valued with reference to similar dated Gilt yields plus a margin based on the 5 year average
for the double AA Barclays Sterling corporate bond spread.
* The Mercantile Investment Trust plc is a long standing investor in Cazenove Group Limited ("Cazenove") and has noted the announcement that JPMorgan Chase & Co. has agreed to purchase Cazenove at a price of 535p per share.  The net asset value of The Mercantile Investment Trust plc that has been announced today reflects the agreed Cazenove price. This has enhanced the net asset value by £7.6 million which is equivalent to 7.43p per ordinary share."

DATE: 19 November 2009
JPMORGAN ASSET MANAGEMENT (UK) LIMITED ANNOUNCES THE UNAUDITED NET ASSET VALUES PER SHARE
(NAVS) OF THE FOLLOWING INVESTMENT TRUSTS AS AT CLOSE OF THE BUSINESS ON  18 November 2009
THE NAVS HAVE BEEN CALCULATED IN ACCORDANCE WITH AIC RECOMMENDED PRACTICE.
THE NET ASSET VALUE PER SHARE IN PENCE, INCLUDING INCOME WITH DEBT AT PAR VALUE, AS AT MARKET CLOSE ON
18 November 2009 WAS AS FOLLOWS:
THE MERCANTILE INVESTMENT TRUST PLC *	1,059.24
THE NET ASSET VALUE PER SHARE IN PENCE, INCLUDING INCOME WITH DEBT AT FAIR VALUE, AS AT MARKET CLOSE ON
18 November 2009 WAS AS FOLLOWS:
THE MERCANTILE INVESTMENT TRUST PLC:*	1,038.07
The debt has been fair valued with reference to similar dated Gilt yields plus a margin based on the 5 year average
for the double AA Barclays Sterling corporate bond spread.
* The Mercantile Investment Trust plc is a long standing investor in Cazenove Group Limited ("Cazenove") and has noted the announcement that JPMorgan Chase & Co. has agreed to purchase Cazenove at a price of 535p per share.  The net asset value of The Mercantile Investment Trust plc that has been announced today reflects the agreed Cazenove price. This has enhanced the net asset value by £7.6 million which is equivalent to 7.43p per ordinary share."

 

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