Net Asset Value(s)

Merchants Trust PLC

08 September 2023

 

The Merchants Trust PLC

LEI: 5299008VJFXCUD2EG312

As recommended by the AIC, net asset values are calculated on both a capital and a cum-income basis.

The Merchants Trust PLC announces that at close of business 07 September 2023:

1)   based on the par value of the company's long term debt and preference shares, the capital net asset value per ordinary share was 503.59p.

2)   based on the market value of the company's long term debt and preference shares, the capital net asset value per ordinary share was 512.42p.

3)   based on the par value of the company's long term debt and preference shares, the cum-income net asset value per ordinary share was 518.37p.

4)   based on the market value of the company's long term debt and preference shares, the cum-income net asset value per ordinary share was 527.20p.

In the valuation of the company's long term debt at market value, the margin added to the yield of the relevant reference gilt is derived from the spread of A UK corporate bond yields over gilt yields, with the exception that the Loan Notes issued on 18 December 2017 are valued at the yield over the reference gilt at which they were issued.

The cum-income net asset values, both with market value of the debt and par value of the debt, previously announced were accurate. However, it has been discovered that due to an administrative error by Merchants' outsourced service provider the capital only net asset values announced, both with market value of the debt and par value of the debt, for the period from 2 February 2023 to 6 September 2023 were incorrectly stated by an immaterial amount. The error has now been corrected and the values stated above for capital only net asset values are accurate.

Enquiries:

Kirsten Salt

Tel: [phone]

08 September 2023

 

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