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The Merchants Trust PLC announced its net asset values per ordinary share at close of business on 25 February 2025. These included capital NAVs of 548.99p (based on par value of debt) and 558.80p (based on market value of debt). Cum-income NAVs were 557.93p (based on par value of debt) and 567.74p (based on market value of debt), with the company also outlining its methodology for valuing long-term debt at market value.
| Date | 26 Feb 2025 |
| Time | 14:01:25 |
| Category | Corporate updates |
| ID | 5803Y |
The Merchants Trust PLC
LEI: 5299008VJFXCUD2EG312
As recommended by the AIC, net asset values are calculated on both a capital and a cum-income basis.
The Merchants Trust PLC announces that at close of business 25 February 2025:
1) based on the par value of the company's long term debt and preference shares, the capital net asset value per ordinary share was 548.99p.
2) based on the market value of the company's long term debt and preference shares, the capital net asset value per ordinary share was 558.80p.
3) based on the par value of the company's long term debt and preference shares, the cum-income net asset value per ordinary share was 557.93p.
4) based on the market value of the company's long term debt and preference shares, the cum-income net asset value per ordinary share was 567.74p.
In the valuation of the company's long term debt at market value, the margin added to the yield of the relevant reference gilt is derived from the spread of A UK corporate bond yields over gilt yields, with the exception that the Loan Notes issued on 18 December 2017 are valued at the yield over the reference gilt at which they were issued.
Enquiries:
Kelly Nice
Tel: 020 3246 7475
26 February 2025