- Title:
Replacement: Net Asset Value(s) - Time:
11:38:01 - Date:
25 Feb 2021 - Category:
Corporate updates - ID:
3712Q
The Law Debenture Corporation p.l.c.
REPLACEMENT:
The Law Debenture Corporation p.l.c. is presenting a replacement announcement of its Net Asset Value for the 23rd of February 2021. Previous announcement shall be disregarded.
Net Asset Value as at 23 February 2021
The Law Debenture Corporation p.l.c. announces that its Net Asset Value ("NAV") with borrowings at par and including the fair value of IPS business1 on 23 February 2021 was 713.58 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 678.18 pence per share (cum income). The mid-market price at the close of business on 23 February 2021 was 714.00 pence per share.
| Net Asset Value |
Excluding Income (pence) |
Including Income (pence) |
| NAV with debt at par |
707.15 |
713.58 |
| NAV with debt at fair value |
671.74 |
678.18 |
Performance
| |
YTD % |
1 year % |
3 years % |
5 years % |
10 years % |
| NAV total return (with debt at par)2 |
2.4 |
4.7 |
18.5 |
68.3 |
144.1 |
| NAV total return (with debt at fair value)2 |
3.9 |
5.2 |
17.0 |
63.6 |
134.3 |
| FTSE Actuaries All-Share Index Total Return3 |
2.9 |
-6.1 |
2.1 |
36.4 |
71.1 |
| Share price total return3 |
3.5 |
22.5 |
38.1 |
94.8 |
184.6 |
| Change in Retail Price Index4 |
0.3 |
1.4 |
6.7 |
13.8 |
28.6 |
1 The fair value of the IPS business is consistent with the most recent formal valuation at 30 June 2020. The fair value at 31 December 2020 is currently being calculated and will be published as part of our audited results. This, along with other year-end adjustments, will result in a slight variance between the NAV we have and the final audited NAV we will disclose in our Annual Report and Accounts.
2 NAV is calculated in accordance with the Association of Investment Companies (AIC) methodology, based on performance data held by Law Debenture including fair value of IPS business and long-term borrowings. NAV is shown with debt measured at par and with debt measured at fair value.
3 Source: Refinitiv.
4 Source: Bloomberg, subject to latest published RPI; January 2021.
In accordance with listing rule 15.6.8, The Law Debenture Corporation p.l.c. announces that it has no investments in other UK listed investment companies that require to be disclosed.
Released by The Law Debenture Corporation p.l.c., 8th Floor, 100 Bishopsgate, London, EC2N 4AG (contact Alison Skerritt-Black, Company Secretariat, 020 7606 5451).
The Law Debenture Corporation p.l.c. LEI number - 2138006E39QX7XV6PP21
Replacement: Net Asset Value(s)11:38:0125 Feb 2021Corporate updates3712Q