TIDMLWDB

RNS Number : 4276O

Law Debenture Corp PLC

02 October 2023

The Law Debenture Corporation p.l.c.

Net Asset Value as at 29 September 2023

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 29 September 2023 was 764.91 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 798.82 pence per share (cum income). The mid-market price at the close of business on 29 September 2023 was 809.00 pence per share.

 
Net Asset Value               Excluding Income (pence)  Including Income (pence) 
NAV with debt at par                            756.38                    764.91 
                              ------------------------  ------------------------ 
NAV with debt at fair value                     790.29                    798.82 
                              ------------------------  ------------------------ 
 

Performance

 
                                                  YTD  1 year  3 years  5 years  10 years 
                                                    %       %        %        %         % 
NAV total return (with debt at par) (2)           5.3    18.5     48.9     32.1     112.1 
------------------------------------------------  ---  ------  -------  -------  -------- 
NAV total return (with debt at fair value) (2)    7.0    19.3     67.9     42.0     125.8 
------------------------------------------------  ---  ------  -------  -------  -------- 
FTSE Actuaries All-Share Index Total Return (3)   4.5    14.4     39.4     19.7      68.6 
------------------------------------------------  ---  ------  -------  -------  -------- 
Share price total return (3)                      7.1    27.8     81.3     59.9     124.1 
------------------------------------------------  ---  ------  -------  -------  -------- 
Change in Retail Price Index (4)                  4.5     9.1     28.4     32.5      50.0 
------------------------------------------------  ---  ------  -------  -------  -------- 
 

(1) The fair value of the IPS business has been calculated as at 30 June 2023.

(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) Share Price source: Refinitiv.

(4) Source: Office for National Statistics, subject to latest published RPI, August 2023.

Geographical Split of investment portfolio

 
Region          % of portfolio     % of portfolio     % of portfolio 
                  29 September   31 December 2022   31 December 2021 
                          2023 
UK                        85.6               83.4               82.6 
Europe                     7.8               10.4               10.0 
North America              5.3                5.1                5.4 
Japan                      1.3                1.1                1.1 
Other                        0                  0                0.2 
Other Pacific                0                  0                0.7 
TOTAL                      100                100                100 
                --------------  -----------------  ----------------- 
 

Full Portfolio Listing

As at 29 September 2023 the full holdings of the portfolio comprised of the following:

 
Holding Name                       Location      Sector               Industry                            GBP000  % 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Shell                              UK            Oil & Gas            Oil & gas producers                 32,575  3.49 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BP                                 UK            Oil & Gas            Oil & gas producers                 30,290  3.25 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
HSBC                               UK            Financials           Banks                               27,967  3.00 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rolls Royce                        UK            Industrials          Aerospace & defence                 27,502  2.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Flutter Entertainment              UK            Consumer Services    Travel & leisure                    20,755  2.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
GlaxoSmithKline                    UK            Health Care          Pharmaceuticals & biotechnology     20,736  2.22 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Barclays                           UK            Financials           Banks                               19,550  2.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rio Tinto                          UK            Basic Materials      Mining                              19,403  2.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marks & Spencer                    UK            Consumer Services    General retailers                   18,928  2.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
NatWest                            UK            Financials           Banks                               15,314  1.64 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sanofi                             France        Health Care          Pharmaceuticals & biotechnology     14,978  1.61 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Chartered                 UK            Financials           Banks                               14,294  1.53 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Senior                             UK            Industrials          Aerospace & defence                 13,907  1.49 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Tesco                              UK            Consumer Goods       Food & Drug Retailers               13,349  1.43 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Lloyds Banking Group               UK            Financials           Banks                               13,311  1.43 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BAE Systems                        UK            Industrials          Aerospace & defence                 12,969  1.39 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
National Grid                      UK            Utilities            Gas, water & multiutilities         12,830  1.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Toyota Motor Corporation           Japan         Consumer Goods       Automobiles & parts                 12,120  1.30 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
M & G                              UK            Financials           Financial services                  11,838  1.27 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hill & Smith                       UK            Industrials          Industrial engineering              11,462  1.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Caterpillar                        USA           Industrials          Industrial engineering              11,191  1.20 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IMI                                UK            Industrials          Industrial engineering              10,780  1.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Ceres Power                        UK            Oil & Gas             distribution                       10,566  1.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Land Securities                    UK            Financials           Real estate investment trusts       10,461  1.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Morgan Advanced Materials          UK            Industrials          Electronic & electrical equipment   10,413  1.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Herald Investment Trust            UK            Financials           Equity investment instruments       10,284  1.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Anglo American                     UK            Basic Materials      Mining                              10,195  1.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Irish Continental Group            Ireland       Consumer Services    Travel & leisure                    10,157  1.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Boku                               UK            Industrials          Support services                    10,068  1.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Aviva                              UK            Financials           Life insurance/assurance            10,028  1.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kier                               UK            Industrials          Construction & materials            9,901   1.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Direct Line Insurance              UK            Financials           Nonlife insurance                   9,299   1.00 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marshalls                          UK            Industrials          Construction & materials            9,102   0.98 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Severn Trent                       UK            Utilities            Gas, water & multiutilities         9,101   0.98 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hiscox                             UK            Financials           Nonlife insurance                   9,091   0.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
DS Smith                           UK            Industrials          General industrials                 9,089   0.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Kingfisher                         UK            Consumer Goods        construction                       9,042   0.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Johnson Service Group              UK            Industrials          Support services                    8,895   0.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Balfour Beatty                     UK            Industrials          Construction & materials            8,873   0.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cummins                            USA           Industrials          Industrial engineering              8,798   0.94 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Dunelm                             UK            Consumer Services    General retailers                   8,707   0.93 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ITV                                UK            Consumer Services    Media                               8,651   0.93 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cranswick                          UK            Consumer Goods       Food producers                      8,488   0.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BT Group                           UK            Telecommunications   Fixed Line Telecommunications       8,457   0.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vodafone                           UK            Telecommunications   Mobile telecommunications           8,450   0.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hipgnosis Songs Fund               UK            Financials           Equity investment instruments       8,321   0.89 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Prudential Corp                    UK            Financials           Life insurance/assurance            8,301   0.89 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Scottish Oriental Small Co         UK            Financials           Equity investment instruments       8,216   0.88 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Elementis                          UK            Basic Materials      Chemicals                           7,898   0.85 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Babcock                            UK            Industrials          Aerospace & defence                 7,632   0.82 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Spectris                           UK            Industrials          Electronic & electrical equipment   7,212   0.77 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Mondi                              UK            Basic Materials      Forestry & paper                    7,203   0.77 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Accsys Technologies                UK            Industrials          Construction & materials            7,085   0.76 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Haleon                             UK            Health Care          Pharmaceuticals & biotechnology     6,814   0.73 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hammerson                          UK            Financials           Real estate investment trusts       6,765   0.73 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Phoenix Group Holdings             UK            Financials           Life insurance/assurance            6,749   0.72 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Personal Finance     UK            Financials           Financial services                  6,489   0.70 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Halfords                           UK            Consumer Services    General retailers                   6,453   0.69 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Reckitt Benckiser Group            UK            Health Care          Health care equipment & services    6,371   0.68 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Applied Materials                  USA           Technology           Technology hardware & equipment     6,241   0.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
AFC Energy                         UK            Oil & Gas            Alternative Energy                  6,238   0.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vanquis Banking Group              UK            Financials           Financial services                  5,995   0.64 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ibstock                            UK            Industrials          Construction & materials            5,905   0.63 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Air Products and Chemicals         Canada        Oil & Gas            Oil & gas producers                 5,809   0.62 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Chesnara                           UK            Financials           Life insurance/assurance            5,739   0.62 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Distribution 
 Services                          UK            Industrials          Industrial transportation           5,477   0.59 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Gibson Energy                      Canada        Oil & Gas            Oil & gas producers                 5,429   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IP Group                           UK            Financials           Financial services                  5,222   0.56 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
General Motors                     USA           Consumer Goods       Automobiles & parts                 5,136   0.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Oxford Sciences Innovation         UKULM         Financials           Financial services                  5,133   0.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Consolidated 
 Airlines                          UK            Consumer Services    Travel & leisure                    5,088   0.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vertu Motors                       UK            Consumer Services    General retailers                   5,026   0.54 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Advanced Medical Equipment & 
Oxford Nanopore Technologies       UK            Technology            Technology                         5,018   0.54 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
TT Electronics                     UK            Industrials          Electronic & electrical equipment   4,963   0.53 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Reach                              UK            Consumer Services    Media                               4,933   0.53 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SSE                                UK            Utilities            Electricity                         4,829   0.52 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Smith & Nephew                     UK            Health Care          Health care equipment & services    4,806   0.52 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
i3 Energy                          UK            Oil & Gas            Oil & gas producers                 4,703   0.50 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Life Aberdeen             UK            Financials           Financial services                  4,682   0.50 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grit Real Estate Income Group      Guernsey      Financials           Real estate investment trusts       4,560   0.49 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
ITM Power                          UK            Oil & Gas             distribution                       4,413   0.47 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bristol-Myers Squibb               USA           Health Care          Pharmaceuticals & biotechnology     4,283   0.46 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ricardo                            UK            Industrials          Support services                    4,162   0.45 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Johnson Matthey                    UK            Other                Sustainable Energy                  4,070   0.44 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Jubilee Metals Group               UK            Basic Materials      Mining                              4,024   0.43 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Redde Northgate                    UK            Industrials          Support services                    3,945   0.42 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
VH Global Sustainable Energy 
 Opportunities                     UK            Other                Sustainable Energy                  3,860   0.41 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Weir Group                         UK            Industrials          Industrial engineering              3,803   0.41 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Next Fifteen Communications Group  UK            Consumer Services    Media                               3,612   0.39 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Bellway                            UK            Consumer Goods        construction                       3,423   0.37 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Epwin Group                        UK            Consumer Goods        construction                       3,227   0.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Nestle                             Switzerland   Consumer Goods       Food producers                      3,224   0.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Novo Nordisk                       Denmark       Health Care          Pharmaceuticals & biotechnology     2,930   0.31 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SigmaRoc                           UK            Industrials          Construction & materials            2,893   0.31 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Roche                              Switzerland   Health Care          Pharmaceuticals & biotechnology     2,708   0.29 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Inchcape                           UK            Industrials          Support services                    2,655   0.28 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Castings                           UK            Industrials          Construction & materials            2,600   0.28 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Plant Health Care                  USA           Basic Materials      Chemicals                           2,566   0.28 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Surface Transforms                 UK            Consumer Goods       Automobiles & parts                 2,417   0.26 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SAP                                Germany       Technology           Software & computer services        2,204   0.24 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Munchener Rueckver                 Germany       Financials           Nonlife insurance                   2,135   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Indus Gas                          UK            Oil & Gas            Oil & gas producers                 2,025   0.22 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Airbus SE                          Netherlands   Industrials          Aerospace & defence                 2,004   0.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Safran SA                          France        Industrials          Aerospace & defence                 1,996   0.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Renold                             UK            Industrials          Industrial engineering              1,866   0.20 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Moncler                            Italy         Consumer Goods       Personal goods                      1,854   0.20 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ASML                               Netherlands   Technology           Technology hardware & equipment     1,836   0.20 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
LVMH                               France        Consumer Goods       Leisure Goods                       1,755   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Watkin Jones                       UK            Consumer Goods        construction                       1,678   0.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Deutsche Boerse                    Germany       Financials           Financial services                  1,621   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
UniCredit                          Italy         Financials           Banks                               1,589   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Invinity Energy Systems            UK            Oil & Gas            Alternative Energy                  1,540   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cellnex Telecom                    Spain         Telecommunications   Mobile telecommunications           1,536   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Amundi                             France        Financials           Financial services                  1,509   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SGS SA                             Switzerland   Industrials          Support services                    1,472   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
DSM-Firmenich AG                   Netherlands   Basic Materials      Chemicals                           1,284   0.14 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Heineken NV                        Netherlands   Consumer Goods       Beverages                           1,187   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Zoo Digital Group                  UK            Technology           Software & computer services        1,160   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sig Combibloc                      Switzerland   Industrials          General industrials                 1,148   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Arbuthnot Banking Group            UK            Financials           Financial services                  1,142   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marstons                           UK            Consumer Services    Travel & leisure                    1,118   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BNP Paribas SA                     France        Financials           Banks                               1,093   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Danone SA                          France        Consumer Goods       Food producers                      1,034   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Logistics Development Group        UK            Industrials          Industrial transportation           1,033   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
EDP Renovaveis SA                  Spain         Other                Sustainable Energy                  994     0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allied Minds                       UK            Financials           Financial services                  971     0.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kistos                             UK            Oil & Gas            Oil & gas producers                 959     0.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Arkema SA                          France        Basic Materials      Chemicals                           844     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ASM International NV               Netherlands   Industrials          Electronic & electrical equipment   770     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ilika                              UK            Oil & Gas            Alternative Energy                  761     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
First Tin                          UK            Basic Materials      Mining                              744     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Adidas                             Germany       Consumer Goods       Leisure Goods                       715     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grifols                            Spain         Health Care          Pharmaceuticals & biotechnology     707     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allfunds Group                     UK            Other                Other                               696     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Universal Music Group              Netherlands   Consumer Services    Media                               691     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bawag                              Austria       Financials           Banks                               669     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sartorius AG                       Germany       Health Care          Health care equipment & services    629     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Serica Energy                      UK            Oil & Gas            Oil & gas producers                 619     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Gelion                             UK            Other                Sustainable Energy                  571     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Velocys                            UK            Oil & Gas             distribution                       505     0.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Brockhaus Capital Management       Germany       Financials           Financial services                  497     0.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Longboat Energy                    UK            Oil & Gas            Oil & gas producers                 495     0.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Deltic Energy                      UK            Oil & Gas            Oil & gas producers                 404     0.04 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ondine Biomedical Inc.             Canada        Health Care          Pharmaceuticals & biotechnology     375     0.04 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Libertine Holdings                 UK            Other                Sustainable Energy                  263     0.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SIMEC Atlantis Energy              UK            Utilities            Electricity                         181     0.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Carclo                             UK            Basic Materials      Chemicals                           147     0.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
LDIC Investments                   UK            Financials           Financial services                  100     0.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Better Cap                         UK            Financials           Equity investment instruments       25 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Barryroe Offshore Energy           Ireland       Oil & Gas            Oil & gas producers                 12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Permanent TSB                      Ireland       Financials           Banks                               7 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
 

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, Company Secretariat, 020 7606 5451).

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

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END

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(END) Dow Jones Newswires

October 02, 2023 11:49 ET (15:49 GMT)

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