Law Debenture Corp PLC Net Asset Value (2214U)

TIDMLWDB

RNS Number : 2214U

Law Debenture Corp PLC

28 July 2020

The Law Debenture Corporation p.l.c.

Net Asset Value as at 24 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 24 July 2020 was 580.07 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 538.24 pence per share (cum income). The mid-market price at the close of business on 24 July 2020 was 523.00 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                            576.39                    580.07 
                              ------------------------  ------------------------ 
NAV with debt at fair value                     534.57                    538.24 
                              ------------------------  ------------------------

Performance

 
                                                    YTD  1 year  3 years  5 years  10 years 
                                                      %       %        %        %         % 
NAV total return (with debt at par) (2)           -17.1   -11.6     -3.9     22.3     131.5 
------------------------------------------------  -----  ------  -------  -------  -------- 
NAV total return (with debt at fair value) (2)    -19.4   -13.9     -6.8     16.3     116.6 
------------------------------------------------  -----  ------  -------  -------  -------- 
FTSE Actuaries All-Share Index Total Return (3)   -17.8   -14.9     -6.0     12.2      79.0 
------------------------------------------------  -----  ------  -------  -------  -------- 
Share price total return (3)                      -15.6    -7.2      1.5     18.6     142.7 
------------------------------------------------  -----  ------  -------  -------  -------- 
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.

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July 28, 2020 02:00 ET (06:00 GMT)

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