TIDMLWDB

RNS Number : 0812S

Law Debenture Corp PLC

01 November 2023

The Law Debenture Corporation p.l.c.

Net Asset Value as at 31 October 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 31 October 2023 was 715.93 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 753.03 pence per share (cum income). The mid-market price at the close of business on 31 October 2023 was 739.00 pence per share.

 
Net Asset Value               Excluding Income (pence)  Including Income (pence) 
NAV with debt at par                            713.01                    715.93 
                              ------------------------  ------------------------ 
NAV with debt at fair value                     750.11                    753.03 
                              ------------------------  ------------------------ 
 

Performance

 
                                                   YTD  1 year  3 years  5 years  10 years 
                                                     %       %        %        %         % 
NAV total return (with debt at par) (2)           -0.4     6.4     44.5     33.7      94.8 
------------------------------------------------  ----  ------  -------  -------  -------- 
NAV total return (with debt at fair value) (2)     1.9     8.6     63.9     45.8     109.5 
------------------------------------------------  ----  ------  -------  -------  -------- 
FTSE Actuaries All-Share Index Total Return (3)    0.3     5.9     39.4     21.1      58.0 
------------------------------------------------  ----  ------  -------  -------  -------- 
Share price total return (3)                      -1.2     3.3     64.9     59.9     102.4 
------------------------------------------------  ----  ------  -------  -------  -------- 
Change in Retail Price Index (4)                   5.0     6.2     28.6     33.0      50.2 
------------------------------------------------  ----  ------  -------  -------  -------- 
 

(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, September 2023.

Geographical Split of investment portfolio

 
Region            % of portfolio     % of portfolio     % of portfolio 
                 31 October 2023   31 December 2022   31 December 2021 
UK                          87.2               83.4               82.6 
Europe                       7.9               10.4               10.0 
North America                3.6                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 31 October 2023 the full holdings of the portfolio comprised of the following:

 
Holding Name                       Location      Sector               Industry                            GBP000  % 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Shell                              UK            Oil & Gas            Oil & gas producers                 33,075  3.86 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BP                                 UK            Oil & Gas            Oil & gas producers                 28,643  3.34 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rolls Royce                        UK            Industrials          Aerospace & defence                 26,780  3.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
HSBC                               UK            Financials           Banks                               25,677  3.00 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
GlaxoSmithKline                    UK            Health Care          Pharmaceuticals & biotechnology     20,258  2.36 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Flutter Entertainment              UK            Consumer Services    Travel & leisure                    19,987  2.33 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rio Tinto                          UK            Basic Materials      Mining                              19,703  2.29 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marks & Spencer                    UK            Consumer Services    General retailers                   17,336  2.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Barclays                           UK            Financials           Banks                               16,187  1.88 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BAE Systems                        UK            Industrials          Aerospace & defence                 14,333  1.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Tesco                              UK            Consumer Goods       Food & Drug Retailers               13,622  1.59 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Senior                             UK            Industrials          Aerospace & defence                 13,344  1.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
National Grid                      UK            Utilities            Gas, water & multiutilities         12,811  1.49 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sanofi                             France        Health Care          Pharmaceuticals & biotechnology     12,719  1.48 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Lloyds Banking Group               UK            Financials           Banks                               11,979  1.39 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
M & G                              UK            Financials           Financial services                  11,889  1.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Chartered                 UK            Financials           Banks                               11,880  1.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Toyota Motor Corporation           Japan         Consumer Goods       Automobiles & parts                 11,584  1.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
NatWest                            UK            Financials           Banks                               11,580  1.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hill & Smith                       UK            Industrials          Industrial engineering              10,969  1.28 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Aviva                              UK            Financials           Life insurance/assurance            10,229  1.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Severn Trent                       UK            Utilities            Gas, water & multiutilities         10,222  1.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Land Securities                    UK            Financials           Real estate investment trusts       10,092  1.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IMI                                UK            Industrials          Industrial engineering              10,072  1.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Irish Continental Group            Ireland       Consumer Services    Travel & leisure                    9,813   1.14 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Herald Investment Trust            UK            Financials           Equity investment instruments       9,636   1.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
DS Smith                           UK            Industrials          General industrials                 9,600   1.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Morgan Advanced Materials          UK            Industrials          Electronic & electrical equipment   9,563   1.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Boku                               UK            Industrials          Support services                    9,438   1.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Anglo American                     UK            Basic Materials      Mining                              9,434   1.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kier                               UK            Industrials          Construction & materials            8,677   1.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Balfour Beatty                     UK            Industrials          Construction & materials            8,531   0.99 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Kingfisher                         UK            Consumer Goods        construction                       8,488   0.99 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hiscox                             UK            Financials           Nonlife insurance                   8,480   0.99 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Johnson Service Group              UK            Industrials          Support services                    8,408   0.98 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cummins                            USA           Industrials          Industrial engineering              8,363   0.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cranswick                          UK            Consumer Goods       Food producers                      8,349   0.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vodafone                           UK            Telecommunications   Mobile telecommunications           8,327   0.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BT Group                           UK            Telecommunications   Fixed Line Telecommunications       8,174   0.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Direct Line Insurance              UK            Financials           Nonlife insurance                   8,170   0.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Dunelm                             UK            Consumer Services    General retailers                   8,093   0.94 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Prudential Corp                    UK            Financials           Life insurance/assurance            8,012   0.93 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ITV                                UK            Consumer Services    Media                               7,820   0.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Scottish Oriental Small Co         UK            Financials           Equity investment instruments       7,681   0.89 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Elementis                          UK            Basic Materials      Chemicals                           7,530   0.88 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marshalls                          UK            Industrials          Construction & materials            7,416   0.86 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hipgnosis Songs Fund               UK            Financials           Equity investment instruments       7,304   0.85 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Babcock                            UK            Industrials          Aerospace & defence                 7,215   0.84 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Mondi                              UK            Basic Materials      Forestry & paper                    6,977   0.81 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Ceres Power                        UK            Oil & Gas             distribution                       6,812   0.79 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Personal Finance     UK            Financials           Financial services                  6,644   0.77 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Haleon                             UK            Health Care          Pharmaceuticals & biotechnology     6,590   0.77 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Spectris                           UK            Industrials          Electronic & electrical equipment   6,588   0.77 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Halfords                           UK            Consumer Services    General retailers                   6,532   0.76 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Phoenix Group Holdings             UK            Financials           Life insurance/assurance            6,353   0.74 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ibstock                            UK            Industrials          Construction & materials            6,304   0.73 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Accsys Technologies                UK            Industrials          Construction & materials            6,241   0.73 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hammerson                          UK            Financials           Real estate investment trusts       5,904   0.69 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Air Products and Chemicals         Canada        Oil & Gas            Oil & gas producers                 5,810   0.68 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Gibson Energy                      Canada        Oil & Gas            Oil & gas producers                 5,806   0.68 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vanquis Banking Group              UK            Financials           Financial services                  5,501   0.64 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Distribution 
 Services                          UK            Industrials          Industrial transportation           5,300   0.62 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
AFC Energy                         UK            Oil & Gas            Alternative Energy                  5,275   0.61 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Chesnara                           UK            Financials           Life insurance/assurance            5,269   0.61 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Oxford Sciences Innovation         UKULM         Financials           Financial services                  5,133   0.60 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vertu Motors                       UK            Consumer Services    General retailers                   5,114   0.60 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Advanced Medical Equipment & 
Oxford Nanopore Technologies       UK            Technology            Technology                         4,969   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Consolidated 
 Airlines                          UK            Consumer Services    Travel & leisure                    4,953   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SSE                                UK            Utilities            Electricity                         4,895   0.57 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Life Aberdeen             UK            Financials           Financial services                  4,705   0.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
TT Electronics                     UK            Industrials          Electronic & electrical equipment   4,613   0.54 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Reach                              UK            Consumer Services    Media                               4,407   0.51 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
General Motors                     USA           Consumer Goods       Automobiles & parts                 4,405   0.51 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Smith & Nephew                     UK            Health Care          Health care equipment & services    4,328   0.50 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IP Group                           UK            Financials           Financial services                  4,319   0.50 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Next Fifteen Communications Group  UK            Consumer Services    Media                               4,214   0.49 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Redde Northgate                    UK            Industrials          Support services                    3,916   0.46 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
i3 Energy                          UK            Oil & Gas            Oil & gas producers                 3,880   0.45 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
VH Global Sustainable Energy 
 Opportunities                     UK            Other                Sustainable Energy                  3,840   0.45 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bristol-Myers Squibb               USA           Health Care          Pharmaceuticals & biotechnology     3,815   0.44 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
ITM Power                          UK            Oil & Gas             distribution                       3,775   0.44 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Johnson Matthey                    UK            Other                Sustainable Energy                  3,734   0.43 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Inchcape                           UK            Industrials          Support services                    3,663   0.43 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ricardo                            UK            Industrials          Support services                    3,662   0.43 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Weir Group                         UK            Industrials          Industrial engineering              3,411   0.40 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grit Real Estate Income Group      Guernsey      Financials           Real estate investment trusts       3,344   0.39 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Bellway                            UK            Consumer Goods        construction                       3,129   0.36 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Epwin Group                        UK            Consumer Goods        construction                       3,128   0.36 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SigmaRoc                           UK            Industrials          Construction & materials            3,100   0.36 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Nestle                             Switzerland   Consumer Goods       Food producers                      3,075   0.36 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Novo Nordisk                       Denmark       Health Care          Pharmaceuticals & biotechnology     3,072   0.36 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Jubilee Metals Group               UK            Basic Materials      Mining                              3,004   0.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Castings                           UK            Industrials          Construction & materials            2,835   0.33 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Roche                              Switzerland   Health Care          Pharmaceuticals & biotechnology     2,551   0.30 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SAP                                Germany       Technology           Software & computer services        2,298   0.27 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Munchener Rueckver                 Germany       Financials           Nonlife insurance                   2,206   0.26 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Surface Transforms                 UK            Consumer Goods       Automobiles & parts                 2,193   0.26 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Indus Gas                          UK            Oil & Gas            Oil & gas producers                 2,059   0.24 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Plant Health Care                  USA           Basic Materials      Chemicals                           2,033   0.24 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Airbus SE                          Netherlands   Industrials          Aerospace & defence                 2,001   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Safran SA                          France        Industrials          Aerospace & defence                 1,983   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ASML                               Netherlands   Technology           Technology hardware & equipment     1,881   0.22 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Renold                             UK            Industrials          Industrial engineering              1,680   0.20 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
UniCredit                          Italy         Financials           Banks                               1,661   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Moncler                            Italy         Consumer Goods       Personal goods                      1,660   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
LVMH                               France        Consumer Goods       Leisure Goods                       1,660   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
XP Power Ltd                       UK            Technology           Technology hardware & equipment     1,644   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Deutsche Boerse                    Germany       Financials           Financial services                  1,548   0.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Watkin Jones                       UK            Consumer Goods        construction                       1,493   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SGS SA                             Switzerland   Industrials          Support services                    1,425   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Amundi                             France        Financials           Financial services                  1,399   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
DSM-Firmenich AG                   Netherlands   Basic Materials      Chemicals                           1,378   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Heineken NV                        Netherlands   Consumer Goods       Beverages                           1,348   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Invinity Energy Systems            UK            Oil & Gas            Alternative Energy                  1,330   0.15 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cellnex Telecom                    Spain         Telecommunications   Mobile telecommunications           1,297   0.15 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Zoo Digital Group                  UK            Technology           Software & computer services        1,189   0.14 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Danone SA                          France        Consumer Goods       Food producers                      1,119   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marstons                           UK            Consumer Services    Travel & leisure                    1,067   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Arbuthnot Banking Group            UK            Financials           Financial services                  1,051   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sig Combibloc                      Switzerland   Industrials          General industrials                 1,022   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BNP Paribas SA                     France        Financials           Banks                               986     0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
EDP Renovaveis SA                  Spain         Other                Sustainable Energy                  974     0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allied Minds                       UK            Financials           Financial services                  971     0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Logistics Development Group        UK            Industrials          Industrial transportation           880     0.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kistos                             UK            Oil & Gas            Oil & gas producers                 824     0.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Arkema SA                          France        Basic Materials      Chemicals                           801     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ilika                              UK            Oil & Gas            Alternative Energy                  761     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ASM International NV               Netherlands   Industrials          Electronic & electrical equipment   756     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Adidas                             Germany       Consumer Goods       Leisure Goods                       720     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bawag                              Austria       Financials           Banks                               650     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Universal Music Group              Netherlands   Consumer Services    Media                               648     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allfunds Group                     UK            Other                Other                               642     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grifols                            Spain         Health Care          Pharmaceuticals & biotechnology     627     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Serica Energy                      UK            Oil & Gas            Oil & gas producers                 582     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Gelion                             UK            Other                Sustainable Energy                  547     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
First Tin                          UK            Basic Materials      Mining                              540     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Longboat Energy                    UK            Oil & Gas            Oil & gas producers                 510     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ondine Biomedical Inc.             Canada        Health Care          Pharmaceuticals & biotechnology     500     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Brockhaus Capital Management       Germany       Financials           Financial services                  478     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sartorius AG                       Germany       Health Care          Health care equipment & services    463     0.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Deltic Energy                      UK            Oil & Gas            Oil & gas producers                 333     0.04 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Libertine Holdings                 UK            Other                Sustainable Energy                  263     0.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SIMEC Atlantis Energy              UK            Utilities            Electricity                         163     0.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Velocys                            UK            Oil & Gas             distribution                       138     0.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Carclo                             UK            Basic Materials      Chemicals                           120     0.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
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 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
 

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

November 01, 2023 09:49 ET (13:49 GMT)

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