The Law Debenture Corporation p.l.c.
Net Asset Value as at 22 March 2024
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
22 March 2024 was
798.88 pence per share (cum
income). With the Corporation's long term debt stated at fair
value, the NAV was 825.72
pence per share (cum income). The mid-market price at the close of
business on 22 March 2024
was 790.00 pence per
share.
In calculating the NAV, we have updated the
value of the IPS business in line with the annual results release
on the 27th February 2024.
Subject to shareholder approval, the final 2023
dividend of 9.125p will be paid on the 11th of April
2024 to shareholders on the register on the record date of the
7th of March 2024.
Net
Asset Value
|
Excluding Income
(pence)
|
Including Income
(pence)
|
NAV with debt at par
|
804.41
|
798.88
|
NAV with debt at fair
value
|
831.24
|
825.72
|
Performance
|
YTD
%
|
1 year
%
|
3 years
%
|
5 years
%
|
10 years
%
|
NAV
total return (with debt at
par)2
|
4.6
|
9.8
|
22.3
|
50.1
|
104.0
|
NAV
total return (with debt at fair
value)2
|
4.6
|
9.9
|
32.2
|
62.1
|
115.0
|
FTSE
Actuaries All-Share Index Total
Return3
|
3.1
|
9.1
|
25.6
|
31.1
|
75.7
|
Share price total
return3
|
-0.2
|
2.7
|
23.4
|
69.5
|
124.7
|
Change in Retail Price
Index4
|
0.5
|
4.5
|
28.7
|
33.7
|
49.9
|
1 The fair value of the
IPS business has been calculated as at 31 December 2023.
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 Share Price source:
Refinitiv.
4 Source: Office for
National Statistics, subject to latest published RPI, February
2024.
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, Company Secretariat, 020 7606 5451).
The Law Debenture Corporation p.l.c. LEI number
- 2138006E39QX7XV6PP21