City Merchants High Yield Trust plc
As at close of business on 26-March-2012
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value
EXCLUDING undistributed current year revenue 157.63p
INCLUDING current year revenue 156.93p
The fair value of debt is not materially different from
the carrying value.
The NAV above includes a provision for liquidation costs of
GBP 383 000 and a deferred tax asset write-off amounting to
GBP 1 445 000 as reported in the annual financial report
announcement of 22 February 2012 and a restructure
proposal circular published 23 February 2012.