Law Debenture Corp PLC Net Asset Value(s) (0532A)
September 24 2020 - 10:21AM
UK Regulatory
TIDMLWDB
RNS Number : 0532A
Law Debenture Corp PLC
24 September 2020
The Law Debenture Corporation p.l.c.
Net Asset Value as at 23 September 2020
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 23 September 2020 was 566.99 pence per
share (cum income) which includes the proposed 2020 second interim
dividend of 6.5 pence as the shares will go ex-dividend on 24
September 2020. With the Corporation's long term debt stated at
fair value, the NAV was 526.17 pence per share (cum income). The
mid-market price at the close of business on 23 September 2020 was
498.50 pence per share. The second interim dividend will be paid on
28 October 2020 to shareholders on the register at the record date
of 25 September 2020.
Net Asset Value Excluding Income (pence) Including Income (pence)
NAV with debt at par 557.78 566.99
------------------------ ------------------------
NAV with debt at fair value 516.97 526.17
------------------------ ------------------------
Performance
YTD 1 year 3 years 5 years 10 years
% % % % %
NAV total return (with debt at par) (2) -19.0 -13.8 -7.1 26.5 114.2
------------------------------------------------ ----- ------ ------- ------- --------
NAV total return (with debt at fair value) (2) -21.2 -15.6 -10.2 20.1 100.5
------------------------------------------------ ----- ------ ------- ------- --------
FTSE Actuaries All-Share Index Total Return (3) -19.8 -16.5 -9.2 18.7 64.1
------------------------------------------------ ----- ------ ------- ------- --------
Share price total return (3) -13.0 -4.1 2.2 29.6 138.6
------------------------------------------------ ----- ------ ------- ------- --------
Change in Retail Price Index (4) 0.5 0.5 6.8 12.9 30.6
------------------------------------------------ ----- ------ ------- ------- --------
(1) The fair value of the IPS business has been calculated as at
30 June 2020 and was published as part of the interim results
announcement on 31 July 2020.
(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) Source: Refinitiv.
(4) Source: Bloomberg, subject to latest published RPI; August
2020.
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., Fifth Floor,
100 Wood Street, London, EC2V 7EX (contact Debbie Fish, Company
Secretariat, 020 7696 5940).
The Law Debenture Corporation p.l.c. LEI number -
2138006E39QX7XV6PP21
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END
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