Law Debenture Corp PLC Net Asset Value and Portfolio Update (5425W)

TIDMLWDB

RNS Number : 5425W

Law Debenture Corp PLC

02 August 2018

Net Asset Value

The Law Debenture Corporation p.l.c. announces that its Net Asset Value ("NAV") with borrowings at par and including fair value of IPS businesses on 31 July 2018 was 705.58 pence per share (ex income) and 717.76 pence per share (cum income), which includes the proposed 2018 interim dividend of 6.00p. With the Corporation's long term debt stated at fair value, the NAV was 685.54 pence per share (ex income) and 697.71 pence per share (cum income). The mid-market price at the close of business on 31 July 2018 was 612.00 pence per share. The interim dividend will be paid on 7 September 2018 to holders on the register at the record date of 10 August 2018.

In accordance with listing rule 15.6.8, The Law Debenture Corporation p.l.c. announces that it has no investments in other UK listed investment companies that require to be disclosed. Its top ten holdings, including all holdings with a value greater than 5% of the Corporation's gross assets as at 31 July 2018 are set out below

Top 10 Holdings

The top 10 holdings in the investment portfolio as at 31 July 2018 were:

 
           Name of Holding            % of portfolio 
   Rank                                 (excl. cash) 
 1.       Royal Dutch Shell                     4.24 
 2.       HSBC                                  2.45 
 3.       BP                                    2.33 
 4.       Senior                                2.32 
 5.       GlaxoSmithKline                       2.31 
 6.       Stewart Investors Pacific             2.14 
 7.       Rolls Royce                           2.08 
 8.       Rio Tinto                             2.00 
 9.       Smith (DS)                            1.80 
 10.      Baillie Gifford Pacific               1.68

Geographical Split of investment portfolio

 
                            % of portfolio 
   Region 
 UK                                     65 
 Europe                                  8 
 North America                           8 
 Japan                                   2 
 Other Pacific                           4 
 Other                                   2 
 Cash and Fixed Interest                11 
 
 TOTAL                                 100 
                           ---------------

Released by The Law Debenture Corporation p.l.c., Fifth Floor, 100 Wood Street, London, EC2V 7EX (contact Ian Bowden, Company Secretariat, 020 7696 5285).

The Law Debenture Corporation p.l.c. LEI number - 2138006E39QX7XV6PP21

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