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The Merchants Trust PLC announced its net asset values per ordinary share at the close of business on 21 September 2026. The capital net asset value was 674.81p (based on par value of debt) and 688.11p (based on market value of debt). The cum-income net asset value was 691.68p (based on par value of debt) and 704.99p (based on market value of debt), with the market value of long term debt derived by adding a margin to the relevant reference gilt yield, except for Loan Notes issued on 18 December 2017.
| Date | 22 Sept 2026 |
| Time | 14:08:41 |
| Category | Corporate updates |
| ID | 8386V |
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 21 September 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 674.81p.
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 688.11p.
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 691.68p.
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 704.99p.
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: 07 554 224 339
22 September 2026