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Majedie Invs.PLC (MAJE)

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Friday 05 February, 2021

Majedie Invs.PLC

Quarterly Majedie Asset Management Valuation

RNS Number : 1967O
Majedie Investments PLC
05 February 2021
 

05 February 2021

LEI: 2138007QEY9DYONC2723

Majedie Investments PLC

Quarterly Majedie Asset Management Valuation

In accordance with the revised valuation basis, the Company's holding in Majedie Asset Management has been valued at £32.6m as at 31 December 2020. This is an increase of 5% from the valuation at 30 September 2020.  On a total return basis, including the dividend received from MAM in December 2020, the return is 15%. The methodology is comprised as follows:

 

 

30.9.20

31.12.20

Earnings after tax (last 3 months annualised)

£11.8m

£11.7m

Peer Group PE multiple

13.7x

15.4x

Liquidity discount

20%

20%

Peer group multiple after liquidity discount

11.0x

12.3x

Performance fee earnings after tax

£1.3m

£2.0m

50% of peer group multiple

6.9x

7.7x

50% of peer group PE multiple after liquidity discount

5.5x

6.2x

Surplus net assets having deducted 200% of Regulatory Capital

£43.7m

£33.4m

Valuation of MAM

£180.7m

£189.7m

Valuation of the Company's 17.2% holding in MAM

£31.0m

£32.6m

 

Enquiries

If you have any enquiries regarding this announcement, please contact Mr William Barlow on 020 7382 8185.

 

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