Law Debenture Corp PLC Net Asset Value (7141Q)

TIDMLWDB

RNS Number : 7141Q

Law Debenture Corp PLC

23 June 2020

The Law Debenture Corporation p.l.c.

Net Asset Value as at 19 June 2020

The Law Debenture Corporation p.l.c. announces that its Net Asset Value ("NAV") with borrowings at par and including the fair value of IPS business(1) on 19 June 2020 was 605.62 pence per share (cum income) which excludes the proposed 2020 first quarterly dividend of 6.50p as the shares will go ex-dividend on 25 June. With the Corporation's long term debt stated at fair value, the NAV was 568.14 pence per share (cum income). The mid-market price at the close of business on 19 June 2020 was 533.00 pence per share. The first quarterly dividend will be paid, subject to shareholder approval, on 28 July 2020 to holders on the register at the record date of 26 June 2020.

 
Net Asset Value         Excluding Income (pence)  Including Income (pence) 
NAV with debt at par                      596.75                    605.62 
                        ------------------------  ------------------------ 
NAV with debt at fair 
 value                                    559.26                    568.14 
                        ------------------------  ------------------------

Performance

 
                                         YTD  1 year  3 years  5 years  10 years 
                                           %       %        %        %         % 
NAV total return (with debt at par) 
 (2)                                   -14.4    -8.3      0.4     27.2     150.9 
-------------------------------------  -----  ------  -------  -------  -------- 
NAV total return (with debt at fair 
 value) (2)                            -16.0   -10.2     -1.7     21.9     137.1 
-------------------------------------  -----  ------  -------  -------  -------- 
FTSE Actuaries All-Share Index Total 
 Return (3)                            -15.7   -11.1     -2.5     17.7      96.1 
-------------------------------------  -----  ------  -------  -------  -------- 
Share price total return (3)           -15.0    -5.6      3.9     24.1     168.7 
-------------------------------------  -----  ------  -------  -------  -------- 
Change in Retail Price Index (4)         0.1     1.0      7.5     13.0      30.7 
-------------------------------------  -----  ------  -------  -------  --------

(1) The fair value of the IPS business has been calculated as at 31 December 2019 and was published as part of the year end results announcement on 27 February 2020.

(2) NAV is calculated in accordance with the Association of Investment Companies (AIC) methodology, based on performance data held by Law Debenture including fair value of IPS business and long-term borrowings. NAV is shown with debt measured at par and with debt measured at fair value.

(3) Source: Refinitiv.

(4) Source: Bloomberg, subject to the latest published RPI data based on May 2020.

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.

Released by The Law Debenture Corporation p.l.c., Fifth Floor, 100 Wood Street, London, EC2V 7EX (contact Debbie Fish, Company Secretariat, 020 7696 5940).

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 23, 2020 02:00 ET (06:00 GMT)

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