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The Merchants Trust PLC announced its net asset values per ordinary share at the close of business on 18 September 2025. Based on the par value of the company's long-term debt and preference shares, the capital net asset value was 565.79p and the cum-income net asset value was 581.68p. When based on the market value of the company's long-term debt and preference shares, the capital net asset value was 577.68p and the cum-income net asset value was 593.56p.
| Date | 19 Sept 2025 |
| Time | 13:40:32 |
| Category | Corporate updates |
| ID | 1077A |
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 18 September 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 565.79p.
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 577.68p.
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 581.68p.
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 593.56p.
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:
Nira Mistry
Tel: 075 5422 4339
19 September 2025