Law Debenture Corp PLC Net Asset Value(s) (2438Q)
24 Febbraio 2021 - 4:23PM
UK Regulatory
TIDMLWDB
RNS Number : 2438Q
Law Debenture Corp PLC
24 February 2021
The Law Debenture Corporation p.l.c.
Net Asset Value as at 23 February 2021
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 February 2021 was 713.58 pence per
share (cum income) which includes the proposed 2020 fourth interim
dividend of 7.5 pence as the shares go ex-dividend on 11 March
2021. With the Corporation's long term debt stated at fair value,
the NAV was 678.18 pence per share (cum income). The mid-market
price at the close of business on 23 February 2021 was 714.00 pence
per share. The fourth interim dividend will be paid on 15 April
2021 to holders on the register at the record date of 12 March
2021.
Net Asset Value Excluding Income (pence) Including Income (pence)
NAV with debt at par 707.15 713.58
------------------------ ------------------------
NAV with debt at fair value 671.74 678.18
------------------------ ------------------------
Performance
YTD 1 year 3 years 5 years 10 years
% % % % %
NAV total return (with debt at par) (2) 2.4 4.7 18.5 68.3 144.1
------------------------------------------------ --- ------ ------- ------- --------
NAV total return (with debt at fair value) (2) 3.9 5.2 17.0 63.6 134.3
------------------------------------------------ --- ------ ------- ------- --------
FTSE Actuaries All-Share Index Total Return (3) 2.9 -6.1 2.1 36.4 71.1
------------------------------------------------ --- ------ ------- ------- --------
Share price total return (3) 3.5 22.5 38.1 94.8 184.6
------------------------------------------------ --- ------ ------- ------- --------
Change in Retail Price Index (4) 0.3 1.4 6.7 13.8 28.6
------------------------------------------------ --- ------ ------- ------- --------
(1) The fair value of the IPS business is consistent with the
most recent formal valuation at 30 June 2020. The fair value at 31
December 2020 is currently being calculated and will be published
as part of our audited results. This, along with other year-end
adjustments, will result in a slight variance between the NAV we
have and the final audited NAV we will disclose in our Annual
Report and Accounts.
(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; January
2021.
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., 8th Floor, 100
Bishopsgate, London, EC2N 4AG (contact Alison Skerritt-Black,
Company Secretariat, 020 7606 5451).
The Law Debenture Corporation p.l.c. LEI number -
2138006E39QX7XV6PP21
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END
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February 24, 2021 10:23 ET (15:23 GMT)
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