Law Debenture Corp PLC Net Asset Value (9691I)
07 April 2020 - 4:00PM
UK Regulatory
TIDMLWDB
RNS Number : 9691I
Law Debenture Corp PLC
07 April 2020
The Law Debenture Corporation p.l.c.
Net Asset Value as at 3 April 2020
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 business(1) on 3 April 2020 was 487.73 pence per share
(cum income), which excludes the proposed 2019 final dividend of
19.40p as the shares went ex-dividend on 12 March. With the
Corporation's long term debt stated at fair value, the NAV was
458.81 pence per share (cum income). The mid-market price at the
close of business on 3 April 2020 was 450.00 pence per share. The
final dividend will be paid, subject to shareholder approval, on 16
April 2020 to holders on the register at the record date of 13
March 2020.
Net Asset Value Excluding Income (pence) Including Income (pence)
NAV with debt at par 482.34 487.73
------------------------ ------------------------
NAV with debt at fair value 453.42 458.81
------------------------ ------------------------
Performance
YTD 1 year 3 years 5 years 10 years
% % % % %
NAV total return (with debt at par) (2) -31.1 -25.5 -17.0 -0.6 86.4
------------------------------------------------ ----- ------ ------- ------- --------
NAV total return (with debt at fair value) (2) -32.1 -27.1 -18.3 -4.1 76.7
------------------------------------------------ ----- ------ ------- ------- --------
FTSE Actuaries All-Share Index Total Return (3) -28.9 -24.6 -16.3 -5.1 47.9
------------------------------------------------ ----- ------ ------- ------- --------
Share price total return (3) -28.3 -23.2 -11.9 6.5 110.4
------------------------------------------------ ----- ------ ------- ------- --------
Change in Retail Price Index (4) 0.0 2.5 8.8 13.8 33.2
------------------------------------------------ ----- ------ ------- ------- --------
(1) The fair value of the IPS business has been calculated as at
31 December 2019 and was published as part of the year end results
announcement on 27 February 2020.
(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: Thomson Reuters.
(4) Source: Bloomberg, subject to the latest published RPI data
based on February 2020.
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., Fifth Floor,
100 Wood Street, London, EC2V 7EX (contact Debbie Fish, Company
Secretariat, 020 7696 5940).
The Law Debenture Corporation p.l.c. LEI number -
2138006E39QX7XV6PP21
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contact rns@lseg.com or visit www.rns.com.
END
NAVSSDFMMESSEDL
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