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The Merchants Trust PLC announced its net asset values per ordinary share at the close of business on 02 December 2025. These values included a capital net asset value of 594.87p (par value debt) and 604.70p (market value debt), and a cum-income net asset value of 608.56p (par value debt) and 618.39p (market value debt).
| Date | 3 Dec 2025 |
| Time | 14:14:01 |
| Category | Corporate updates |
| ID | 1216K |
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 02 December 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 594.87p.
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 604.70p.
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 608.56p.
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 618.39p.
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
03 December 2025