UK Mortgages Ltd Net Asset Value(s)
July 28 2021 - 12:19PM
UK Regulatory
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 £0.7664 GG00BXDZMK63 31 May 2021
UKML RNS: Commentary accompanying UK Mortgages Limited May 2021 NAV
The UKML NAV per share was calculated for May 2021 month end at 76.64 pence per
share, a decrease of 3.02 pence per share.
As previously highlighted, the most significant driver of NAV movement this
month is the realisation of the sale of the Malt Hill No. 2 portfolio -
particularly the unwind cost associated with the termination of the swaps,
which when combined with the legal costs make the impact slightly larger than
initially expected and indicated in the previous announcements.
In addition, as a consequence of the portfolio sale, this month saw a drop in
interest income, although this has been partially offset by the increase in
income received from the ongoing growth in the Cornhill No. 7 portfolio, which
moreover subsequently saw near record completion volumes in June, albeit the
revenue from these loans will only begin to flow through from July or August.
The next NAV to be released for June will see the positive impact of the share
tender at a discount to the NAV, with the impact of this component expected to
be in the region of 0.20 pence per share.
The Company's remaining 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: 28 July 2021
END
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