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The Merchants Trust PLC announced its net asset values (NAVs) per ordinary share as of close of business on 23 February 2026. The capital NAV was 663.65p based on par value debt and 673.93p based on market value debt, while the cum-income NAV was 673.32p based on par value debt and 683.60p based on market value debt.
| Date | 24 Feb 2026 |
| Time | 13:32:08 |
| Category | Corporate updates |
| ID | 2159U |
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 23 February 2026:
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 663.65p.
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 673.93p.
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 673.32p.
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 683.60p.
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
24 February 2026