Honeycomb Investment Trust PLC Net Asset Value - Change to NAV calculation basis (4118N)
25 October 2016 - 10:15PM
UK Regulatory
TIDMHONY
RNS Number : 4118N
Honeycomb Investment Trust PLC
25 October 2016
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, ANY MEMBER STATE OF THE
EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM), CANADA,
AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER
JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE
UNLAWFUL
Honeycomb Investment Trust plc (the "Company")
Change to Basis of Calculation of Net Asset Values
The Company announces that it has revised the basis on which its
unaudited Net Asset Value ("NAV") is calculated on a cum-income and
on an ex-income basis.
From the date of this announcement:
-- the Company's reported NAV (Cum-Income) will include all
year-to-date income (both revenue and capital income), less the
value of (i) any dividends paid in respect of the year-to-date and
(ii) any dividends which have been declared and marked ex dividend
during the year-to-date but not yet paid; and
-- the Company's reported NAV (Ex-Income) will be the NAV
(Cum-Income) excluding net year-to-date income (both revenue and
capital income). For this purpose, net year-to-date income will
comprise all year-to-date income, less the value of (i) any
dividends paid in respect of the year-to-date and (ii) any
dividends which have been declared and marked ex dividend during
the year-to-date but not yet paid.
Any income which is undistributed at the end of a financial year
will be moved to reserves on the first business day of the
immediately following year, meaning that each figure for NAV
(Ex-Income) reported during a financial year will equate to the NAV
(Cum-Income) less year-to-date undistributed income.
The Company has today published its monthly investor report for
the month ended 30 September 2016, which can be accessed at
http://www.honeycombplc.com/investor-relations
The monthly investor report includes revised NAV figures for the
months ended 31 August and 30 September 2016, being each month in
respect of which the Company has previously reported NAV
(Cum-Income) and NAV (Ex-Income). Investors should note that the
basis on which these previously reported NAV figures were
calculated differs from that set out above, and from the basis used
to calculate NAV (Cum-Income) and NAV (Ex-Income) as reported in
the Company's interim financial statements in respect of the six
months ended 30 June 2016.
Investors are directed to the following restated NAV per share
figures, calculated on the basis set out in this announcement,
which shall replace each previously reported NAV per share figure
in respect of the relevant period, including those most recently
announced by the Company on 14 October 2016:
Month ended NAV (Cum-Income) NAV (Ex-Income)
per share per share
-------------- ----------------- ----------------
31 August
2016 1,020 984
30 September
2016 1,009 984
These NAVs have been calculated by Apex Fund Services (UK)
Ltd.
This document is made available for information purposes only
and does not contain any representations or constitute an offer to
sell or the solicitation of an offer to acquire or subscribe for
any securities of the Company. All investments are subject to risk.
Prospective investors are advised to seek expert legal, financial,
tax and other professional advice before making any investment
decision. The value of investments may fluctuate and past
performance is no guarantee of future results.
This announcement contains inside information.
For further information about this announcement please
contact:
Apex Fund Services (UK) Ltd
Priya Dhaliah/Paul Spendiff/Robert Kelly
020 3697 5368
Pollen Street Capital
Chris Palmer/Johnathan Moyes
020 3728 6740/6743
Liberum
Simon Atkinson/Chris Clarke/Joshua Hughes
020 3100 2000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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