UK Mortgages Ltd Net Asset Value(s)

 
TIDMUKML 
 
UK MORTGAGES LIMITED 
 (a closed-ended investment company incorporated in Guernsey with registration 
                                 number 60440) 
 
                           LEI 549300388LT7VTHCIT59 
 
Final Net Asset Value 
 
         FUND NAME                  NAV                ISIN             NAV DATE 
 
   UK Mortgages Limited           £0.8007             GG00BXDZMK63  28 February 2021 
 
UKML RNS: Commentary accompanying UK Mortgages Limited February 2021 NAV 
 
The UKML NAV per share was calculated for February 2021 month end at 80.07 
pence per share, a decrease of 0.27 pence per share. 
 
As communicated in the commentary accompanying the January NAV, the sale of the 
Cornhill No. 6 portfolio was completed on 25th February, albeit the loss 
provisioning for the sale price of the assets versus the amortised cost 
valuation was previously included in the NAV published for January in line with 
the Company's accounting policy. As also previously stated, the unwinding of 
the interest rate swap attached to the Cornhill No. 6 transaction was not due 
to be recognised until the current period and this is the key driver for the 
negative impact on the February NAV equating to approximately 0.65 pence per 
share. This was partially offset by the regular monthly income generated by the 
Company's investments. 
 
The net proceeds from this portfolio sale were subsequently returned to 
shareholders by way of a tender at 75 pence per share on 24th March. This is 
expected to add approximately 0.61 pence per share net of costs, which will be 
reflected in the March NAV. 
 
Meanwhile, the Company's investments continue to perform in line with 
expectations. More details will be available in the Company's next factsheet to 
be published shortly. 
 
Enquiries: 
 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Andrew Bonham              44 (0)1481 745302 
 
Date: 29 April 2021 
 
 
 
END

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April 29, 2021 04:50 ET (08:50 GMT)

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