Law Debenture Corp PLC Net Asset Value(s) (4487H)
August 03 2021 - 9:13AM
UK Regulatory
TIDMLWDB
RNS Number : 4487H
Law Debenture Corp PLC
03 August 2021
The Law Debenture Corporation p.l.c.
Net Asset Value as at 2 August 2021
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 2 August 2021 was 805.33 pence per
share (cum income). With the Corporation's long term debt stated at
fair value, the NAV was 770.16 pence per share (cum income). The
mid-market price at the close of business on 2 August 2021 was
761.00 pence per share.
We note that as part of our 2021 half year results, we have
updated the valuation of our IPS business, which has increased from
GBP135.95m to GBP149.71m.
Net Asset Value Excluding Income (pence) Including Income (pence)
NAV with debt at par 795.59 805.33
------------------------ ------------------------
NAV with debt at fair value 760.42 770.16
------------------------ ------------------------
Performance
YTD 1 year 3 years 5 years 10 years
% % % % %
NAV total return (with debt at par) (2) 17.9 49.8 27.1 68.9 171.9
------------------------------------------------ ---- ------ ------- ------- --------
NAV total return (with debt at fair value) (2) 20.5 55.4 25.9 72.0 162.8
------------------------------------------------ ---- ------ ------- ------- --------
FTSE Actuaries All-Share Index Total Return (3) 12.5 27.6 6.3 33.3 92.1
------------------------------------------------ ---- ------ ------- ------- --------
Share price total return (3) 12.5 49.0 40.9 85.0 189.1
------------------------------------------------ ---- ------ ------- ------- --------
Change in Retail Price Index (4) 2.9 3.9 8.0 15.5 29.3
------------------------------------------------ ---- ------ ------- ------- --------
(1) The fair value of the IPS business has been calculated as at
30 June 2021 and was published as part of the half year results
announcement on 29 July 2021.
(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 subject to latest published
RPI; June 2021.
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., 8th Floor, 100
Bishopsgate, London, EC2N 4AG (contact Alison Skerritt-Black,
Company Secretariat, 020 7606 5451).
The Law Debenture Corporation p.l.c. LEI number -
2138006E39QX7XV6PP21
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