Law Debenture Corp PLC Net Asset Value (5400T)
July 21 2020 - 2:00AM
UK Regulatory
TIDMLWDB
RNS Number : 5400T
Law Debenture Corp PLC
21 July 2020
The Law Debenture Corporation p.l.c.
Net Asset Value as at 17 July 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 17 July 2020 was 596.63 pence per share
(cum income) which excludes the proposed 2020 first quarterly
dividend of 6.50p as the shares went ex-dividend on the 25 June
2020. With the Corporation's long term debt stated at fair value,
the NAV was 555.53 pence per share (cum income). The mid-market
price at the close of business on 17 July 2020 was 538.00 pence per
share. The first quarterly dividend will be paid 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 592.96 596.63
------------------------ ------------------------
NAV with debt at fair value 551.85 555.53
------------------------ ------------------------
Performance
YTD 1 year 3 years 5 years 10 years
% % % % %
NAV total return (with debt at par) (2) -14.8 -9.1 -1.1 25.8 138.1
------------------------------------------------ ----- ------ ------- ------- --------
NAV total return (with debt at fair value) (2) -16.9 -11.1 -3.8 20.0 123.5
------------------------------------------------ ----- ------ ------- ------- --------
FTSE Actuaries All-Share Index Total Return (3) -15.9 -13.0 -3.9 14.7 83.0
------------------------------------------------ ----- ------ ------- ------- --------
Share price total return (3) -13.1 -4.5 4.4 22.0 149.7
------------------------------------------------ ----- ------ ------- ------- --------
Change in Retail Price Index (4) 0.3 1.1 7.5 13.1 30.6
------------------------------------------------ ----- ------ ------- ------- --------
(1) The fair value of the IPS business has been calculated as at
31 December 2019. The fair value at 30 June 2020 is currently being
calculated and will be published as part of our half year results
announcement.
(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 latest published RPI based on
June 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
NAVSEUFISESSEIW
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