TIDMLWDB

RNS Number : 4579V

Law Debenture Corp PLC

01 December 2023

The Law Debenture Corporation p.l.c.

Net Asset Value as at 30 November 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 30 November 2023 was 741.17 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 774.84 pence per share (cum income). The mid-market price at the close of business on 30 November 2023 was 780.00 pence per share.

 
Net Asset Value               Excluding Income (pence)  Including Income (pence) 
NAV with debt at par                            738.25                    741.17 
                              ------------------------  ------------------------ 
NAV with debt at fair value                     771.92                    774.84 
                              ------------------------  ------------------------ 
 

Performance

 
                                                  YTD  1 year  3 years  5 years  10 years 
                                                    %       %        %        %         % 
NAV total return (with debt at par) (2)           3.1     2.8     27.0     37.7     100.5 
------------------------------------------------  ---  ------  -------  -------  -------- 
NAV total return (with debt at fair value) (2)    4.8     5.0     41.9     48.3     114.0 
------------------------------------------------  ---  ------  -------  -------  -------- 
FTSE Actuaries All-Share Index Total Return (3)   3.3     1.8     27.3     26.8      63.8 
------------------------------------------------  ---  ------  -------  -------  -------- 
Share price total return (3)                      4.2     3.9     41.9     71.1     111.4 
------------------------------------------------  ---  ------  -------  -------  -------- 
Change in Retail Price Index (4)                  4.8     5.4     28.7     32.7      49.9 
------------------------------------------------  ---  ------  -------  -------  -------- 
 

(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, October 2023.

Geographical Split of investment portfolio

 
Region             % of portfolio     % of portfolio     % of portfolio 
                 30 November 2023   31 December 2022   31 December 2021 
UK                           88.1               83.4               82.6 
Europe                        7.4               10.4               10.0 
North America                 3.2                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 30 November 2023 the full holdings of the portfolio comprised of the following:

 
Holding Name                       Location      Sector               Industry                            GBP000  % 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rolls Royce                        UK            Industrials          Aerospace & defence                 33,466  3.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Shell                              UK            Oil & Gas            Oil & gas producers                 31,994  3.50 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BP                                 UK            Oil & Gas            Oil & gas producers                 27,300  2.98 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
HSBC                               UK            Financials           Banks                               26,106  2.85 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rio Tinto                          UK            Basic Materials      Mining                              20,246  2.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marks & Spencer                    UK            Consumer Services    General retailers                   20,120  2.20 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
GlaxoSmithKline                    UK            Health Care          Pharmaceuticals & biotechnology     19,730  2.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Flutter Entertainment              UK            Consumer Services    Travel & leisure                    19,174  2.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Barclays                           UK            Financials           Banks                               17,348  1.90 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Senior                             UK            Industrials          Aerospace & defence                 14,589  1.59 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Tesco                              UK            Consumer Goods       Food & Drug Retailers               14,435  1.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BAE Systems                        UK            Industrials          Aerospace & defence                 13,644  1.49 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
NatWest                            UK            Financials           Banks                               13,507  1.48 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
National Grid                      UK            Utilities            Gas, water & multiutilities         13,445  1.47 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Lloyds Banking Group               UK            Financials           Banks                               13,041  1.43 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sanofi                             France        Health Care          Pharmaceuticals & biotechnology     12,568  1.37 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
M & G                              UK            Financials           Financial services                  12,552  1.37 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Chartered                 UK            Financials           Banks                               12,314  1.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Toyota Motor Corporation           Japan         Consumer Goods       Automobiles & parts                 12,312  1.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hill & Smith                       UK            Industrials          Industrial engineering              11,981  1.31 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Anglo American                     UK            Basic Materials      Mining                              11,776  1.29 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Land Securities                    UK            Financials           Real estate investment trusts       11,067  1.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Shaftesbury Capital PLC            UK            Financials           Real estate investment trusts       10,863  1.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Morgan Advanced Materials          UK            Industrials          Electronic & electrical equipment   10,859  1.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Herald Investment Trust            UK            Financials           Equity investment instruments       10,824  1.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IMI                                UK            Industrials          Industrial engineering              10,739  1.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Aviva                              UK            Financials           Life insurance/assurance            10,738  1.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Direct Line Insurance              UK            Financials           Nonlife insurance                   10,179  1.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Severn Trent                       UK            Utilities            Gas, water & multiutilities         10,010  1.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Boku                               UK            Industrials          Support services                    9,998   1.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
DS Smith                           UK            Industrials          General industrials                 9,781   1.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Irish Continental Group            Ireland       Consumer Services    Travel & leisure                    9,723   1.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kier                               UK            Industrials          Construction & materials            9,367   1.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hiscox                             UK            Financials           Nonlife insurance                   9,190   1.00 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cranswick                          UK            Consumer Goods       Food producers                      9,176   1.00 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marshalls                          UK            Industrials          Construction & materials            8,994   0.98 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Balfour Beatty                     UK            Industrials          Construction & materials            8,989   0.98 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BT Group                           UK            Telecommunications   Fixed Line Telecommunications       8,907   0.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Kingfisher                         UK            Consumer Goods        construction                       8,884   0.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Johnson Service Group              UK            Industrials          Support services                    8,658   0.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Dunelm                             UK            Consumer Services    General retailers                   8,649   0.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cummins                            USA           Industrials          Industrial engineering              8,344   0.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Prudential Corp                    UK            Financials           Life insurance/assurance            8,059   0.88 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vodafone                           UK            Telecommunications   Mobile telecommunications           7,845   0.86 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Scottish Oriental Small Co         UK            Financials           Equity investment instruments       7,743   0.85 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ITV                                UK            Consumer Services    Media                               7,663   0.84 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Elementis                          UK            Basic Materials      Chemicals                           7,530   0.82 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Mondi                              UK            Basic Materials      Forestry & paper                    7,384   0.81 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Babcock                            UK            Industrials          Aerospace & defence                 7,285   0.80 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hammerson                          UK            Financials           Real estate investment trusts       7,281   0.80 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Spectris                           UK            Industrials          Electronic & electrical equipment   7,163   0.78 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Ceres Power                        UK            Oil & Gas             distribution                       7,067   0.77 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hipgnosis Songs Fund               UK            Financials           Equity investment instruments       6,869   0.75 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ibstock                            UK            Industrials          Construction & materials            6,732   0.74 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Haleon                             UK            Health Care          Pharmaceuticals & biotechnology     6,600   0.72 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Phoenix Group Holdings             UK            Financials           Life insurance/assurance            6,513   0.71 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Distribution 
 Services                          UK            Industrials          Industrial transportation           6,310   0.69 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
AFC Energy                         UK            Oil & Gas            Alternative Energy                  6,134   0.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Halfords                           UK            Consumer Services    General retailers                   6,125   0.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Accsys Technologies                UK            Industrials          Construction & materials            6,123   0.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vertu Motors                       UK            Consumer Services    General retailers                   5,719   0.63 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Personal Finance     UK            Financials           Financial services                  5,639   0.62 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Gibson Energy                      Canada        Oil & Gas            Oil & gas producers                 5,570   0.61 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SSE                                UK            Utilities            Electricity                         5,489   0.60 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Air Products and Chemicals         Canada        Oil & Gas            Oil & gas producers                 5,358   0.59 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Chesnara                           UK            Financials           Life insurance/assurance            5,322   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vanquis Banking Group              UK            Financials           Financial services                  5,291   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Workspace Group PLC                UK            Financials           Real estate investment trusts       5,280   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Consolidated 
 Airlines                          UK            Consumer Services    Travel & leisure                    5,261   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Next Fifteen Communications Group  UK            Consumer Services    Media                               5,208   0.57 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Oxford Sciences Innovation         UKULM         Financials           Financial services                  5,133   0.56 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IP Group                           UK            Financials           Financial services                  4,985   0.54 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Life Aberdeen             UK            Financials           Financial services                  4,897   0.54 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Smith & Nephew                     UK            Health Care          Health care equipment & services    4,808   0.53 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
General Motors                     USA           Consumer Goods       Automobiles & parts                 4,755   0.52 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Advanced Medical Equipment & 
Oxford Nanopore Technologies       UK            Technology            Technology                         4,716   0.52 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
VH Global Sustainable Energy 
 Opportunities                     UK            Other                Sustainable Energy                  4,608   0.50 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
TT Electronics                     UK            Industrials          Electronic & electrical equipment   4,321   0.47 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Redde Northgate                    UK            Industrials          Support services                    4,190   0.46 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Reach                              UK            Consumer Services    Media                               4,127   0.45 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ricardo                            UK            Industrials          Support services                    3,879   0.42 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Johnson Matthey                    UK            Other                Sustainable Energy                  3,875   0.42 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Weir Group                         UK            Industrials          Industrial engineering              3,746   0.41 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bristol-Myers Squibb               USA           Health Care          Pharmaceuticals & biotechnology     3,520   0.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Inchcape                           UK            Industrials          Support services                    3,482   0.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Bellway                            UK            Consumer Goods        construction                       3,477   0.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Epwin Group                        UK            Consumer Goods        construction                       3,476   0.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
i3 Energy                          UK            Oil & Gas            Oil & gas producers                 3,241   0.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Castings                           UK            Industrials          Construction & materials            3,166   0.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Novo Nordisk                       Denmark       Health Care          Pharmaceuticals & biotechnology     3,120   0.34 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Nestle                             Switzerland   Consumer Goods       Food producers                      3,119   0.34 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SigmaRoc                           UK            Industrials          Construction & materials            3,030   0.33 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
ITM Power                          UK            Oil & Gas             distribution                       3,000   0.33 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Jubilee Metals Group               UK            Basic Materials      Mining                              2,891   0.32 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SAP                                Germany       Technology           Software & computer services        2,622   0.29 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Roche                              Switzerland   Health Care          Pharmaceuticals & biotechnology     2,579   0.28 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Munchener Rueckver                 Germany       Financials           Nonlife insurance                   2,260   0.25 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Safran SA                          France        Industrials          Aerospace & defence                 2,152   0.24 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Airbus SE                          Netherlands   Industrials          Aerospace & defence                 2,138   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grit Real Estate Income Group      Guernsey      Financials           Real estate investment trusts       2,128   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Gelion                             UK            Other                Sustainable Energy                  2,114   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
XP Power Ltd                       UK            Technology           Technology hardware & equipment     2,075   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Indus Gas                          UK            Oil & Gas            Oil & gas producers                 2,059   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ASML                               Netherlands   Technology           Technology hardware & equipment     2,055   0.22 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Renold                             UK            Industrials          Industrial engineering              2,009   0.22 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Watkin Jones                       UK            Consumer Goods        construction                       1,966   0.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
UniCredit                          Italy         Financials           Banks                               1,736   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Deutsche Boerse                    Germany       Financials           Financial services                  1,721   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
LVMH                               France        Consumer Goods       Leisure Goods                       1,713   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Zoo Digital Group                  UK            Technology           Software & computer services        1,711   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Moncler                            Italy         Consumer Goods       Personal goods                      1,706   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cellnex Telecom                    Spain         Telecommunications   Mobile telecommunications           1,625   0.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Amundi                             France        Financials           Financial services                  1,591   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SGS SA                             Switzerland   Industrials          Support services                    1,435   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
DSM-Firmenich AG                   Netherlands   Basic Materials      Chemicals                           1,386   0.15 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Plant Health Care                  USA           Basic Materials      Chemicals                           1,233   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Danone SA                          France        Consumer Goods       Food producers                      1,164   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Arbuthnot Banking Group            UK            Financials           Financial services                  1,160   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Surface Transforms                 UK            Consumer Goods       Automobiles & parts                 1,146   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ilika                              UK            Oil & Gas            Alternative Energy                  1,116   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marstons                           UK            Consumer Services    Travel & leisure                    1,098   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
EDP Renovaveis SA                  Spain         Other                Sustainable Energy                  1,066   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sig Combibloc                      Switzerland   Industrials          General industrials                 1,047   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BNP Paribas SA                     France        Financials           Banks                               1,039   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Invinity Energy Systems            UK            Oil & Gas            Alternative Energy                  1,015   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allied Minds                       UK            Financials           Financial services                  971     0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ASM International NV               Netherlands   Industrials          Electronic & electrical equipment   907     0.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Logistics Development Group        UK            Industrials          Industrial transportation           903     0.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kistos                             UK            Oil & Gas            Oil & gas producers                 855     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Arkema SA                          France        Basic Materials      Chemicals                           838     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allfunds Group                     UK            Other                Other                               765     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bawag                              Austria       Financials           Banks                               734     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grifols                            Spain         Health Care          Pharmaceuticals & biotechnology     724     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Heineken NV                        Netherlands   Consumer Goods       Beverages                           719     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Universal Music Group              Netherlands   Consumer Services    Media                               671     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
First Tin                          UK            Basic Materials      Mining                              576     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sartorius AG                       Germany       Health Care          Health care equipment & services    576     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Serica Energy                      UK            Oil & Gas            Oil & gas producers                 572     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Longboat Energy                    UK            Oil & Gas            Oil & gas producers                 555     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Brockhaus Capital Management       Germany       Financials           Financial services                  514     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Adidas                             Germany       Consumer Goods       Leisure Goods                       389     0.04 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Saietta Group                      UK            Consumer Goods       Automobiles & parts                 373     0.04 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Deltic Energy                      UK            Oil & Gas            Oil & gas producers                 365     0.04 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ondine Biomedical Inc.             Canada        Health Care          Pharmaceuticals & biotechnology     333     0.04 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Libertine Holdings                 UK            Other                Sustainable Energy                  263     0.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SIMEC Atlantis Energy              UK            Utilities            Electricity                         199     0.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Carclo                             UK            Basic Materials      Chemicals                           115     0.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Velocys                            UK            Oil & Gas             distribution                       114     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                 11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
 

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

December 01, 2023 11:21 ET (16:21 GMT)

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