Scottish Investment Trust PLC Net Asset Value(s) (5771T)
January 06 2017 - 9:45AM
UK Regulatory
TIDMSCIN
RNS Number : 5771T
Scottish Investment Trust PLC
06 January 2017
To: RNS
From: The Scottish Investment Trust PLC
Date: 6 January 2017
Net asset values per share (NAVs) at 5 January
2017
Cum - income
NAV with borrowings at market value 875.6p
NAV with borrowings at par 902.6p
Ex - income Discount
NAV with borrowings at market value 855.3p 8.0%
NAV with borrowings at par 882.3p
Notes:
In line with our reporting policy, the NAVs
are calculated taking the valuation of investments
at closing bid or last price as the case
may be. NAVs are unaudited.
Borrowings at market value is the company's
estimate of the "fair value" of its borrowings.
The current estimated fair value of the company's
borrowings is based on the redemption yield
of the relevant existing reference gilt plus
a margin derived from the spread of BBB UK
corporate bond yields (15 years+) over UK
gilt yields (15 years+). The reference gilt
for the secured bonds is the 6% UK Treasury
Stock 2028 and the reference gilt for the
perpetual debenture stocks is the longest
dated UK Treasury stock listed in the Financial
Times.
"Borrowings at par" is the nominal value of the
borrowings less any unamortised issue expenses.
For further information please contact:
Michael Woodward / Philip Rorke
0131 550 3761 / 3762
R&H Fund Services Limited
This information is provided by RNS
The company news service from the London Stock Exchange
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